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Brazil, who wouldn’t want to own a slice of it?

05 October 2010 - www.holprop.com - news

Brazil, a truly vibrant culture from the dancing to the stunning beaches, to the hypnotic rhythms and gregarious living. Some would say Brazil is filled with the most beautiful land and people in the world, who wouldn’t want to own a slice of it?

In a world wide property market where investors are cautious, Brazil has been a stand out success story. This has been due to several factors including a strong natural economy that is not over reliant on tourism. Brazil has an abundance of natural resources, including oil, which gives the economy stability that investors look for. Brazil also has a huge population (just under 200 million) and is well pegged to become a future super economy. Plus great climate, beaches and a vast wealth of different landscapes. Favorable currency conversion for westerners, (1.00 GBP = 2.67 BRL/ 1.00 USD = 1.69 BRL & 1.00 EUR = 2.33 BRL)* and of course great property at great prices.

Over the last 5 years, government reformation has enabled Brazil to make significant improvements in social sectors. Average earnings have been on the rise, as has employment possibilities for a country looking to better itself. This has brought about more disposable cash flow and in turn, better interest rates and a greater desire for Brazilians themselves to purchase their own properties. Presently Brazil is the largest economy in South America, with increased incomes and a thriving economy driven internally and internationally. Thankfully Brazil has not tightened the belt on foreign nationals purchasing within their borders. President of ADIT (Association for Real Estate and Tourism Development in the North East of Brazil), Felipe Cavalcante, has let it be known that any worry over new legislation concerning Brazil’s natural resources will only affect agricultural land and will have no bearing whatsoever on investments made into real estate.

Where a purchase is made with the right foresight on up and coming areas, such as Natal in the North East, which has been an unbridled success story in the international property world. A mixture of the right location, with good access to road, airports and local facilities can prove an essential mix for a profitable investment, as these are the properties that are in demand for vacation rentals.

It has not been unusual for buyers over the last 5 years to have experienced 100% growth on initial investment and now with a current interest rate of 9.5% and having recently made mortgages available to foreign buyers, further boom in Brazilian real estate is expected. Brazil is a genuine opportunity.

A pledge has been made by Brazilian president Luiz Inacio Lula da Silva, to meet the demands of the flourishing market, his government will spend up to $18bn USD on a million new homes in the country by end of 2011.

With the world cup around the corner in 2014 and having arguably the greatest football team ever, playing in their home country, also hosting the 2016 Olympic games, all eyes will be on Brazil as they finally step out from the shadow of a developing nation and show the world they are now one of the finest, most progressive places to be in the world. With property prices still currently at a fraction of those in more developed nations, now would be a wise time to invest indeed.

How to buy a property in Brazil:
• Foreign ownership of land and property is permitted. Investment in property may be made from abroad as direct ownership or via a vehicle such as a resident company, partnership or investment fund. Possible restrictions may apply to purchase of rural land regarding desired size of area for purchase.
• You will need a tax registration number known as a Catastro de Pessao Fisica (CPF). This can be obtained from any foreign Brazilian embassy or in Brazil via a lawyer.
• The amount of your Brazilian property purchase must be wired into the country to the Banco Central do Brasil, as this bank allows the Government to record all overseas investment.
• After finding the property you want to buy, you need a Certidao de Onus Reais. These certificates are to be applied for, however, they are not needed for purchase of off plan properties.
• If buying off plan, be sure to undertake all due diligence, ensuring land is properly registered, building licenses are in place and a ‘copia da escritura publica’ certificate has been issued from the notary.
• Deposits are usually paid at this point from buyer to vendor and are non refundable.
• Drawn up at this stage is the sales contract, detailing full conditions of sale and acting as receipt for deposit funds paid.
• Final stage is the drawing up of the property sales deed of completion (‘escritura’). This will usually be carried out at the notary. Once in possession of this deed, take it to the Real Estate Registry Office to effect registry.

By www.holprop.com
Brazil Property | Brazil Holiday rentals | Brazil Lettings



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