Purchasing Brazil Real Estate
Brazil real estate can be purchased by foreigners, that meet the necessary requirements.If you wish to purchase property here, you must first start out by securing a CPF.To obtain this, visit the website of your local Brazilian embassy (there are embassies throughout the United States and in most other countries.)You can also visit the consulate’s office in Brazil when you are visiting there.You will need to work with an estate agent from Brazil to purchase the property.
There are various areas of the country that you may want to consider purchasing in.
First, realize that many of the most expensive cities in terms of property are those located along the coast.
Brazil real estate is very much driven by the tourism market of the city.Therefore, take a city away from the beach and you will be in close driving distance but away from the costly expense of tourism.
Options of Places to Live
A good place to consider is Rio de Janeiro.This is the largest tourist town in the country, but you can look just outside of the city for good opportunities.For example, there is a neighborhood up the hills a bit called Santa Teresa where you can find very affordable housing.In Brazil real estate here, as well as in other smaller local towns, property will be affordable; a new townhouse for example will likely start at US $49,000.Land itself usually starts at US $19,000 in this region.If you move towards the ocean more, including oceanfront homes, you’ll pay US $29,000.
I just did an interview with a friend who lived there for about a year and she advises to really carefully look at the area you decide to live in, as there are often slums right beside more established areas and as crime is very real in Brazil you want to make sure to be in the safest location possible.
Hot Property Market
Currently, there is a large demand for property here from foreign investors.You’ll find that while property prices are still very low, in many situations they are growing fast.For example, in the area of Buzios you will pay about US $150,000 for a good house, perhaps one near the ocean.But, the current appreciation rates here are outstanding.In just five years, that number could double or even more making for some interesting investment opportunities.
A very affordable location to find Brazil real estate is Bahia, which is commonly known as the soul of the country.Here, you will find amazing old architecture that will take your breath away, and with property costs starting at around US $35,000 for an oceanfront home.In the more modern areas of this city, you should expect to pay much more for the same quality of housing.
Brazil real estate is marvelous in its design and look.It many areas, it is investment property too; because of just how rapidly it will appreciate.
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