Currency fluctuations ‘have massive impact’ on foreign property
An improvement in the performance of the pound will see more people buying foreign homes, including Brazilian property, according to an expert.
Marc Da-Silva, a freelance property journalist and the editor of HomesOverseas.co.uk, said that currency fluctuations have "an absolutely massive" impact on people’s purchasing options.
People thinking of buying property in Brazil were also told that an improvement in the domestic housing market would also see foreign sales increase.
"Having said that, there are some individual circumstances; there are a lot more people trying to buy overseas for tax purposes [because] of the new higher rate of tax coming into play next year," he added.
Last week, a spokesperson for the commercial section of the Brazilian embassy said that people looking to buy housing in the South American country should make sure they research the country’s taxation system.
He added that the amount of Brazilian property investment over the last few years shows that the rate of tax there is favourable.
