The Influential British property blog, Global Property News, has long-recommended
investing in the strong Brazilian market: with the caveat that prospective investors seek expert local advice.
According to expert Richard Warren, a property writer for both the BBC and the South China Morning Post: “foreigners are free to buy property anywhere in Brazil. However, they ought to seek expert advice when doing so, because little English is spoken, the legal system is different to that found in most other countries and scams abound.”
Brazil offers myriad attractions for international property investors, with very strong growth rates, a booming domestic market and agricultural and industrial prowess. According to Henry Madden, partner at Dehouche
Land, its property market is also “considerably underrated” in comparison to the other
BRIC countries (Russia, India and China), offering unparalleled opportunities for growth.
Brazil's robust legal system is also on a par with western democracies, and its political system is healthy too, as shown by the recent free and
fair election when power was peacefully transferred from the popular Luiz Inacio Lula da Silva to Dilma Rouseff. Free from the political upheavals and natural disasters that plague many traditional areas of overseas property investment, such as the Caribbean, Brazil offers stable and secure opportunities.
The flip-side of Brazil's stable government and strong rule of law is its robust, and at times stifling, bureaucracy. Potential investors need to ensure that they are properly registered with the relevant agencies and comply with stringent environmental protections. As with all property markets, there are unscrupulous sellers and scams out there, so its essential to work with CRECI-registered agents and well-established companies with international links.
As Nick Barnes, residential research partner at Knight Frank estate agency, stresses, “due diligence is absolutely vital on a project” and buyers need local expertise to help them buy and manage properties, as “it's a long way away, so investors are entirely in the trust of local managers to manage the property.”
From gaining a CPF tax ID form to tying up all the legal loopholes, the experts agree that it's essential for international investors to seek the best expert advice. With in-depth local knowledge and international experience,
Brazil Bahia Property (IBBI) is the leading specialist for locals and global investors looking to buy in Bahia, one of Brazil's fastest-growing and beautiful regions.
With great returns, but some pitfalls, Brazil offers a brilliant investment opportunity: as long as you have the right advice.
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