Brazilian property ‘not restricted’
Investors can buy property for sale in Brazil without restriction, it has been claimed.
Global real estate brokers Eychner Associates maintained that the legal aspects of buying property in Brazil are handled by a notary and fees should range from between two and three per cent, according to the New York Times.
Bob Eychner, president of the firm, told the newspaper Brazilian property investors will also have to pay a three per cent transfer tax.
He advised buyers to borrow from a Brazilian branch of an international bank as the nation’s mortgage industry is relatively robust despite the current global downturn.
"It helps if you are already an established client of the international bank in your home country," he added.
Meanwhile, Brazilian President Luiz Inacio Lula da Silva was last confident ahead of the G20 meeting with world leaders.
Lula claimed the event was a promising start to solving the financial crisis.
