Thinking about a Second Home in the Sun? Think Brazil

Thinking about a Second Home in the Sun? Think Brazil

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With the cost of living sitting at around 1/5 of that in Britain, Brazil is right now one hot real estate market. It isn’t hard to see though why Brazil suddenly sits in the international spotlight as the new darling for overseas investors.

With year round sunshine, a stable political economy and many undervalued homes due to Brazil’s economic stagnation and currency volatility in the late 1990s, property investors have their eyes set on Brazil.

The growing infrastructure as well as an ever increasing international flight network make Brazil close to a fast stop over even for Europeans. A flight from Portugal to Natal, the capital city of the Rio Grande do Norte takes only 7 hours. You could have breakfast in Portugal and dinner in Brazil if it wasn’t for the time difference.

Many European, Middle East and U.S. developers have seen the opportunities in the Brazilian market and acted accordingly by building luxury resorts and developments on the north eastern coast especially. The weather is reminiscent of the Caribbean here and chances of hurricanes are nil.

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How to buy Brazil property

Buying property in Brazil is a relative straightforward event. As a foreigner you can buy real estate and your rights as property owners will be similar to those of locals.

We found some interesting information on regards to property purchase in Brazil.

Rules of the Game

Buying Property in Brazil

These two links should inform you more closely on the legal needs of property ownership as an overseas investor in Brazil.

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Where to buy Brazil property

Brazil’s three major hot spots are already seeing some 20% increases p.a. 2008 is looking promising and said to become the best year ever for Brazilian property investments.

Market analysts predict a major property boom and while the rest of the world (or many nations) lick their property doom wounds, Brazil’s market hasn’t even started to peak. It’s now or never as the saying goes and here are some reasons why you should look to invest now:

  • Brazil experienced a 150% rise in tourism in north east Brazil between 2002 and 2005
  • Short flying time from mainland Europe
  • Cost of living 1/5th of UK
  • Investors can experience excellent cuisine, a lively atmosphere and some of the world’s best beaches
  • Perfect climate with over 300 days of sun per year. Average temperatures are 28°C ensuring year-round tourism and rental market
  • This year some 9 million visitors are expected placing NE Brazil in the top 20 most popular tourism destinations in the world
  • A total of 96% of first-time visitors vow to return
  • Natal will have the biggest commercial airport in Latin America (4th largest in the world) by 2010. It will act as a continental hub with 5 million passengers a year passing through
  • Brazil has over 7000 miles of mainly semi-virgin coastline
  • Natal officially has the purest air in Latin America and the 2nd purest in the world.
  • 1.8 billion US$ earmarked for foreign investment in tourism infrastructure over the next 5 years (hotels, golf courses, condos, resorts)
  • Brazil is also free from hurricanes, volcanic eruptions and earthquakes
  • The Brazilian government recently invested $750 million to improve tourism infrastructure such as airports, roads, marinas and environmental preservation while creating over 200,000 new jobs in 2007

Hot spots

Natal

Natal is the capital city of Rio Grande do Norte, the sunshine state of Brazil. Being hailed as the Caribbean of South America, Natal is home to some of the best beaches in the world.

There is a lively and bustling atmosphere and investors will find this to be a great opportunity since the new international airport will be situated in Natal. It is the focal point of investment in Brazil providing investors with tons of opportunities right now.

Pipa

Pipa or Praia de Pipa as it is locally known was discovered in the 1970s by surfers. Today, Pipa Beach is the epitome of trendy living. You can find a vast range of bars, restaurants, shops and activities to keep you entertained.

Also called Global Village, Pipa Beach is considered a high end market with many southern rich Brazilian investors buying property locally.

Strong local building laws keep the landscape and overall attraction of this area pristine.

Bahia

With hundreds of miles of semi virgin coastline and many islands dotted along the way, Bahia is the “secret state” of Brazil. If you are truly looking for paradise island, you might just get lucky in Bahia.

Flying time to Salvador de Bahia (the capital) is just under 8 hours from mainland Europe making it popular for a growing range of tourists.

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Get independent legal advice

While it isn’t necessary to use a local attorney, it is highly recommended. many online companies offer a packaged service such as buying, legal and rental.

When investing in any market it always pays to be cautious, regardless of the hype or the promises made to you. Good research can mean peace of mind later down the track.

To find a suitable lawyer, we suggest you do a Google search or start with the links we have provided.

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