Brazil has one of the fastest-growing economies in the world. And with its growing and stable economy, a booming tourist industry as well as fairly low property prices in the country, Brazil provides a great opportunity for foreign real estate investors. Read on to learn more about Brazil property market.
Why Buy Property in Brazil
You may be probably asking yourself why you should buy property in Brazil and not the other countries in South America. Well, there are numerous incredible reasons why you should buy Brazil apartments. First, any person can buy property in Brazil, whether you are a citizen or not.
Furthermore, real estate investments, especially for foreign investors, have great tax options. For instance, you will incur a low purchase tax when you buy property in Brazil, if you are a non-resident. Furthermore, all properties in Brazil are sold on a freehold basis, which means that you will get 100 percent of land ownership.
Another reason why you should consider buying a property in Brazil is that the demand for vacation Brazil villas and holiday homes is rapidly growing – thanks to the Government’s investment in the tourism sector. Also, retirees who have a certain pension rate are granted permanent residence permits. Consequently, the demand for retirement communities has increased significantly, thus offering another great opportunity for real estate investors.
Where to Buy Property in Brazil
Currently, Brazil has one of the fastest-growing real estate markets in the world. And with a coastline of more than 7,000 kilometers, Brazil offers plenty of investment opportunities for holiday homes. Currently, Sao Paulo and Rio De Janeiro are considered the best places to buy property in Brazil. Rio De Janeiro is quite popular with real estate investors, due to its business appeal and a growing number of tourists. Sao Paulo is also a promising real estate market, owing to the increasing number of local and international companies relocating to that area. Whether you opt for Sao Paulo, Rio De Janeiro or both, you can never go wrong with any of these two areas.
Buying Property in Brazil
Before buying a property in Brazil, you first need to decide whether you want to use it as a holiday home, for renting purposes or as a holiday home. If you intend to buy the property for renting, then you should choose one of the above two cities. The most important thing is to first do some research on the prices in the region and compare different properties. Also, ensure you conduct thorough due diligence before parting with your money, to avoid scammers.