Brazil Real Estate Popular with the British
The climate, culture, low prices and some of the best beaches in the world are attracting overseas investors looking for a great deal, vacation home, rental property or a place to retire. A recent report indicates that Brazil is now in the top ten markets for British investors buying oversees property.
Currencies Direct (www.currenciesdirect.com), a British foreign exchange company, recently listed Brazil as the ninth most popular investment spot for British overseas property purchases. Mark O’Sullivan, head of trading at Currencies Direct, notes that Brazil’s “tropical climate, dramatic scenery, upbeat culture and potential annual occupancy rates of about 30 weeks, present plenty of reasons to buy property in Brazil.”
Brazil has abundant land resources, the largest economy in Central and South America and a large labor force. It has almost anything an international investor could want, from spectacular beachfront property to acres of land inland for farming or ranching. The economy is diversified and is on the upswing.
While the large cities in southern Brazil such as Rio de Janerio and Sao Paulo have traditionally been popular places to buy, there is a trend in recent years to purchase northward along the coast. Some of the most popular areas for foreigners looking to buy include the cities and states along the northeast coast and Amazon Delta. These areas are still much less populated than the southern cities and states, crime is significantly lower, prices are very reasonable and the value of property is increasing at high rates. All of these reasons, as well as those mentioned above, make it a great place to invest.
Bahia state is one of the hottest places in Brazil right now for investors. It has the longest coastline of any Brazilian state and its capital city of Salvador is a popular tourist destination for both local and international visitors. Other popular areas include the states of Sergipe, Rio Grande do Norte and Ceara. Cities in these states that are drawing visitors and property purchasers include Aracaju, Fortaleza and Natal.
There are a number of new developments currently under construction in these states and many more planned. There is also quite a bit of beachfront land, and land not far from the beach, available for those who want expansive private views and a place to build. With so much to offer, Brazil should continue to be a popular place for British real estate purchasers for a long time to come.