buying property for investment in brazil good idea or not anybody out there done it

I havnt done it but I had vaguely thought about it. Depends on what you want really. For an investment I reckon places like Bulgaria, Romania, Turkey, Budapest are better prices will go up more quickly coz of the Euro. I would much rather go to brazil than any of these places though.

quote:

Originally posted by solath sar:
buying property for investment in brazil good idea or not anybody out there done it

Yes, São Paulo. Good idea.

Hi there. We've just put down a deposit on an apartment in Maracajau North East Brazil. The location is stunning - white sands, swaying palms, coral reefs etc etc and the prices are low. Lots of government investment in tourism so we're feeling pretty enthusiastic about the whole thing. Looked into Morocco and even booked an inspection trip. But had a really really bad feeling about all the stuff we were finding out on forums but weren't being told by agents. Brazil has been better - much more information on which to make a decision and lots of independent tourists' views (all very very positive). Established tourism already amongst Portugese, Spanish and Scandanavians so don't feel like we're pioneering/taking undue risks. We're going out to visit in a few weeks - can't wait!!

quote:

Originally posted by JuneR:
We've just put down a deposit on an apartment in Maracajau North East Brazil. ..... don't feel like we're pioneering/taking undue risks........We're going out to visit in a few weeks - can't wait!!

Can you clarify, are you saying:

You've placed a deposit on a property you've never seen, in a district you've never been to?



You are more brave/pioneering than me!

quote:

Originally posted by BTLOptingOut:
You've placed a deposit on a property you've never seen, in a district you've never been to?



You are more brave/pioneering than me!

This is a classic example of victim of real estate propaganda. Buy properties in places one does not know just because the brochures were nicely coloured.

The good news is that in Brazil the prices are very low so there is not so much to be lost...

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Originally posted by taraca:
This is a classic example of victim of real estate propaganda. Buy properties in places one does not know just because the brochures were nicely coloured.

The good news is that in Brazil the prices are very low so there is not so much to be lost...

Well unless JuneR responds we won't know what she has paid nor what stage she is at, but...

I did a quick search of the development in question. It appears that apartments are priced from €44K to €90K.

They are wanting a €1K reservation fee prior to 30% (of final cost) on exchange of contracts. I assume that contract hasn't been exchanged and all she has done is downpay the reservation fee.

I note that 70% of purchase price must be paid before even completion of the property!

quote:

Originally posted by BTLOptingOut:
Well unless JuneR responds we won't know what she has paid nor what stage she is at, but...

I did a quick search of the development in question. It appears that apartments are priced from €44K to €90K.

They are wanting a €1K reservation fee prior to 30% (of final cost) on exchange of contracts. I assume that contract hasn't been exchanged and all she has done is downpay the reservation fee.

I note that 70% of purchase price must be paid before even completion of the property!

Unless you buy something already constructed ! In any case, you can get an insurance to grant your money back in case the construction is not completed in time, can't you?

Phil