Brazilian property gamble pays off for British couple
A British couple who invested in Brazilian property are now bringing in up to £1,800 per week for its rental.
Colin and Valerie Barber, from Brentwood, Essex, told the Daily Mail that they originally saw the beachfront property on Praia da Pipa, Natal, in the north-east corner of the country, on the last day of their holiday in Brazil.
Six months later they returned to see that the property was still for sale at £150,000. Despite complications with the legal paperwork being incomplete, the couple pressed ahead with plans to buy their own Brazilian property.
After 18 months of building work, the house is now complete and worth double what they bought it for.
They told the source that they are now charging holidaymakers £500 a week to rent the picturesque Brazilian property, rising to £1,800 during carnival week in February.
David Cox, director of Property Frontiers, said that Natal is shaping up as a favourite for Brazilian property investment in 2010, thanks to it being a host city for the World Cup in 2014, and with a host of infrastructure improvements on the horizon, including a new airport.
