Brazilian property ‘is the goal’ for sports stars
Overseas property in emerging markets, such as Brazil, is increasingly becoming the goal for sporting stars, according to new reports.
In recent months Rio Ferdinand, John Terry and Gary Neville have reserved properties in Morocco while England’s test cricket captain, Michael Vaughan, has bought a four-bedroom villa on an island in Venezuela.
However, it is not just sporting stars that are benefiting from the bargains that can be discovered in the emerging property markets
A leading property expert has said that whereas previously British buyers, for example, would have only been prepared to invest in France or Spain due to their locality new trends show they are looking further afield for their perfect overseas property.
Expert in overseas real estate, Jay Patel, said: "It is little wonder that buyers are straying from the British property market. Overseas, first-time buyers are looking at prices from £47,000 in Brazil for off-plan properties.
"In the UK, those wishing to enter the buy-to-let market are struggling to make a return on their investment, whereas overseas investors can be guaranteed a rental income over a specific number of years for certain developments and with capital appreciation at around ten per cent to 15 per cent in Brazil and 15 per cent to 25 per cent in Morocco."
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