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Real Estate News Releases
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(EMAILWIRE.COM, October 30, 2008 ) Brazil - TheMoveChannel.com, the leading international property portal, announces a number of new properties in Brazil:
· Oasis –From £26,680, 2 Bed development in Parnaiba, 750 metres from Atalaia beach
· Ceara – From £5,700, beachfront land plot, from 30m to 500m from the ocean, year round sunshine
Properties in Brazil are unlikely to be an investment opportunity UK investors have considered in the past, so TheMoveChannel.com provides an overview of buying property in Brazil.
Buying in Brazil
It is important to note that for the transferring of the title deed for properties in Brazil into your name it is necessary for both parties to be present, along with some relevant documentation at the Cartorio (public registry). If you cannot be present in Brazil this can be done by proxy.
The payment can often be made all at once or in instalments of between one and four years. But be wary that interest rates can be very high. If you opt to pay in instalments, bear in mind there is also a currency risk and if the value of the Brazilian currency Real goes down, your property becomes cheaper, and vice versa.
Deposits to guarantee the property are normally around 10 per cent of the purchase price and non-refundable if the buyer gives up the property sale.
The funds should be transferred directly from your own bank to the seller's bank account in Brazil, via the Central Bank of Brazil.
The bank records your funds entering into the country and in order to release the funds, the seller must present the contract to the bank. It is highly recommended to use only this official route, or you may have complications transferring funds out of Brazil when you sell your property in the future.
There are generally no limitations to returning funds overseas provided they were originally registered with the Central Bank at the time of purchase.
Purchasing costs will vary depending on property type and location of property, but as a general rule you can expect to pay approximately seven to nine per cent of the price of the property in transaction fees.
Brazilian mortgages are still being developed, so currently it is advisable to organize finance from your home country.
Some developers of new build and off-plan developments offer instalment plans between 12 and 60 months. The charges applicable vary according to developer and repayments are usually index linked. If you are buying a property off-plan you will only be able to transfer the title deed into your name once the property is finalised and the official licence issued.
After buying within a development, you can expect maintenance costs and monthly service charges of between £50-200, depending on the size of the property.
The annual property tax, (UK council tax equivalent) is 0.6 per cent, which is tax based on a value far inferior to the value of the property, i.e. the tax is minimal.
Income earned from property in Brazil is taxable whether the investor is resident or non-resident in Brazil. Non-residents are usually subject to a capital gains tax rate of 15 per cent on any gains they make on properties in Brazil but both these taxation facts are subject to alteration depending on any double taxation treaties in place between Brazil and the investors country of residence, as well as any future change in legislation.
Dan Johnson, Managing Director, comments:
“Lively cities, vast jungles and pure beaches, Brazil is a country with stunning beauty.”
For more information on Brazilian Properties and the market in general, please visit http://brazil.themovechannel.com/.
-ENDS-
Notes to editors:
TheMoveChannel.com is a property website that was founded in 1999 as an online resource for buying, selling and learning about property. It now receives as many as 300,000 visits per month and advertises over 50,000 properties in nearly 90 countries, which are listed by over 500 partner organisations.
For further information as well as images and interview possibilities, please contact:
Dan Johnson
Managing Director
www.TheMoveChannel.com
0207 952 7650
TheMoveChannel.com
Jon Moore
020 7952 7658
j.moore@themovechannel.com 
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