Country Guide: Brazil
Why buy property in Brazil?
Brazil is a massive country with a decent economy, cheap property prices and a low cost of living. In addition to the huge football culture, the South American country now boasts numerous festivals and cultural attractions and there is always something going on. The coast is stunning and the beach life fun and relaxing: consequently, almost two thirds of the Brazilian population live by the sea.
What's Brazil's property market like?
The economy is strong and the property market is continuing to grow which makes the country a great place to invest. Due to this, there are a lot of ‘pure investors’, who buy to capitalise on Brazil's strong economy.
Samantha Gore, sales manager from uv10.com, said: "Brazil clearly provides a platform for excellent investment returns, especially when considering the low interest rates in the UK."
Popular areas in Brazil in which to invest
With its colourful carnivals and 45 miles of white sandy beaches, Rio de Janeiro is an obvious choice for many. This popularity means it is a great place to invest in property to let out to tourists.
If you're looking for the business and financial centre of the country then Sao Paolo is the place for you, as it is where the government sits and most major commerce takes place. This would be a great place to stay on business trips, or alternatively to let out to business people.
The northern beach resorts are naturally stunning and are full of high-quality developments and investment opportunities, making it a fairly affluent area. The city of Natal is a particular hotspot, with the highest quality of life and lowest crime rate in the nation.
Bahia is also attracting a lot of attention from British investors at the moment. The beaches and weather are superb and it is not too expensive to buy in this state.
The property-buying process in Brazil
You must gain your taxpayer identification number and acquire a good, independent lawyer before beginning the buying process. Once the property has been chosen and all the necessary checks carried out, you need to open a local bank account. All monetary transactions will need to be registered as a foreign investment with the bank of Brazil.
Once your offer is accepted, you will be required to pay a deposit of between five and 20 per cent. The balance is paid once all the paperwork has been completed and the entire process is overseen by a notary.
