Brazil Mortgages for overseas Buyers

On a recent trip to Brazil I came across an interesting way to obtain a Brazil mortgage, this is for non residents actually a 100% off plan Finance model.

I have not come across anything similar anywhere in the world I have travelled extensively and purchased property in other emerging real estate markets.

I could not afford a large depsosit of 40% but I could afford monthly payments to get me to the 40% needed, I flew to fortaleza to Inspect the site.and met with some local brokers who arranged the whole thing

The brokers showed me a way of buying which is paying monthly over the build period which will take the amount paid to 30% when the property is ready. What a fantastic way to get into Brazilian real estate

I paid a $2000 arrangement fee which included all my legals and CPF number; my monthly payments are $1200.

In thirty six months the building is compleated and I will be able to rent the property, I can finance the ballance over 16 years if need be but more than likley i will pay it off in 5.

I will have the option to Sell rent or use the property myself If i rent this will give me an income to pay off the Mortgage in I will also get capitol growth

Allways try to find a location that has a high demand for rental opertunities location location location,

I settled on Fortaleza as my city in Brazil as regular flights from Europe TAP have 66 flights a week arriving from Portugal, In December Delta will fly direct from Atlanta.

I watched them work on the new golf coarse in Fortaleza which is nearly completed it will open early 09

There is a new shopping center and 8 new 5 star Hotels underway in the same beach location as the golf coarse

The up coming world cup in 214 should have some games in Fortaleza one of the Riquirements is a metro system and they are building that now, It will be ready by 214

If you are buying for a holiday home then more than likley you will want the beach. I try to cover Holiday home and Investment as you only make your money when you sell so buy in a popular location

I chose brazil to buy as the market internaly is very good they predict that because of the local credit market being so good prices will grow by 20% this year and carry on for 10 years more

to contact the english speaking brokers I used www.brazillandconsult.com

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!