We decided we should send one of our intrepid reporters over there to see what all the fuss is about, you'll find the resultant article is extremely informational. Times overseas property writer, Gordon Miller, is the reporter who got the enviable job of travelling around this huge country and he was impressed where he didn't expect to be and unimpressed where he felt he would be. To read the article click here.
If you want to get your hands on a listing of Brazilian property you'll find it here.
For news articles on Brazil click here.
For news from Agents on what is new in Brazil click here.
For a full listing of agents selling property in Brazil click here.
Remember, if you want to be updated on any of the above categories all you need to do is log in to your account and use the 'Save Search' link at the top of each search page to be updated when anything new is loaded to that specific category. It couldn't be simpler.
Haven't got an account, then click here and register, you'll be able to save searches to have the site provide you with the information you need and you'll receive our highly acclaimed monthly newsletter.
If you want to be updated on what is happening in this blog just click on the Atom or RSS feed links at the bottom of the page and you'll be able to read this blog on your own RSS reader (you can get one free from google if you don't have one).
www.OverseasCafe.com
1 comment:
A property hotspot yes - but also a region with several potential pitfalls, particularly for foreign investors 'gringos'. Although the Brazilian economy has made incredible strides over the past few years, the legal and land registration systems have lagged behind and continue to create uncertainty for investors. This is particularly true in less developed regions of the country, such as the Amazon and the Northeast, where many foreign investors are now focused. For example, over 500 European investors lost their shirts investing in a luxury resort near Natal. The developers had plans for 30,000 homes, a marina, golf course, sports centre, spa, heliport, shopping centre and a plastic surgery clinic, all on an idyllic beach and around a lagoon. The problem was that nothing was ever built, none of the investors’ funds every reached the project, and the developer is now sitting in a Spanish prison (see this article). In rural areas, land grabbers have an “investment” strategy called grilagem, from the Portuguese word for ‘cricket’. People have been known to falsify a deed and then store it in a box full of crickets to make the paper seem older (and thus more authentic). In addition to fraud, title issues can arise when mistakes are made in transferring property. For example, if a spouse or child is left out of a deed, the person not included could show up later on and challenge the rights of the property’s current occupant. In less developed regions, the boundaries between properties can be based on physical objects that can move or disappear (i.e.: “Start at the old tree, then take 50 steps to the stream…”). Squatters such as the Landless Peasant Movement could obtain possessory rights over land even if they do not appear in any registry. Although your attorney or the cartorio could theoretically be liable for mistakes, an investor would need to prove negligence in order to win a lawsuit, which is no easy matter for a foreigner up against well-connected local attorneys. Even if the investor wins the lawsuit, the Brazilian courts can easily delay the date of judgment for decades. These are just some examples of risks faced by real estate investors.
Not to be overly negative, it is becoming clear that Brazil has much potential - there is just a need to be extra vigilent when approaching any kind of investment in the country.
Post a Comment