Brazil property ‘benefits from open market’
There are no restrictions to pose as barriers to British investors buying property for sale in Brazil, it is being claimed.
A Place in the Sun Magazine revealed that unlike other emerging markets such as China and India, there are no restrictions preventing foreigners buying property in Brazil, which could give Brazil real estate the upper hand against rivals markets.
Richard Way, editor of the publication, said property in Brazil is all freehold as well which "is good" as there is no leasing.
According to BuyAssociation, Brazilian property is attracting investors, retirees and those looking for holiday homes despite being relatively new on the international real estate-buying scene.
It claims Brits are attracted by the "diverse landscape, rich culture, idyllic climate and affordability" as the cost of living in Brazil is 20 per cent of what it is in the UK
The International Monetary Fund’s World Economic Outlook: Housing and the Business Cycle 2008 report, found growth boomed in Brazil last year, amid strong employment and sustained declines in real interest rates. It predicts growth in Latin America will moderate to 4.4 per cent in 2008.
