Why invest in Brazilian property?
Brazil is a growing country - and, given its stunning coastal locations, exotic reputation and varied landscapes, it should come as little surprise that tourism is booming.
Associated with this rise in the tourism sector is an associated increase in foreign property ownership - with many foreigners opting to buy holiday homes or purchase a property as they look to emigrate to the South American nation.
Foreigners still only make up a small proportion of the total number of property buyers in Brazil - as restrictions are placed on the size and area in which you can buy a house if you are not Brazilian. Foreign nationals also need to be approved by the Brazilian government before they buy a house in the country - and a tax registration number from the Cadastro de Pessoa Fisica is required.
Good rental yields are achievable in the larger cities. A smaller apartment in Sao Paulo can be expected to yield around 9.6 per cent per annum - while smaller units generally yield between 5.4 per cent and 7.2 per cent. In Rio de Janeiro, apartments are more expensive but generally give better returns of between 7.5 per cent to 9.6 per cent.
Yields in other major cities such as Bahia and Fortazella can also be substantial - between four per cent and seven per cent usually.
Landlord and tenant law favours the landlord in Brazil - with landlords protected from non-payment by the presence of a guarantor should the tenant fail to pay due rent. Transaction costs stand at around 11 per cent of the property.
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