Seeking Advice: Buy/Invest in Rio de Janeiro

Discussion in 'Brazil Property' started by Raimundo, Feb 3, 2008.

  1. Dotty

    Dotty Banned

    This whole discussion started when i said you can now purchase in the UK e decent 2 bed apt for the same price as a purchase in Natal . I have no idea what you get for 100k in Bahia or the South ,but I know what you can get here.I spend my time viewing properties,infact a viewed a few yesterday!Roughly ,95 meters 350,000 reais,nice location ,dark apt,small balcony,wrong position ,small outdoor facilities!Another-
    150 mets 420,000 ,overlooks other tower blocks,deadful surroundings,yet close to all amenities , ideal location.

    Viewing Cliveemson's webpage I came up with several decent homes at auction to purchase for investments,of course it's not the only options,but it's definately a buyers market and a sellers nightmare with 1000,s for sale.
     
  2. JMBroad

    JMBroad New Member

    As I said earlier Dotty, I'd like to see which properties you are looking at. We don't have anything which would interest you at the moment (we don't deal in luxury developments) but I'm curious to see where you are looking if everything you are looking at is that expensive.

    Are you only looking at finished developments or are you also looking at off-plan? Coffee and orange juice is on me...

    (I just brought 20 kg of oranges I got at the market for 17 R$ last week into the office so we can have freshly squeezed orange juice all day for a while)
     
  3. robh

    robh Administrator Staff Member Premium Member

    Dotty,

    I don't stay in Pipa Paradise, I own a place next door. Also I grew up in Australia and I am not English so I drink beer not lager, even though most australian beer is technically lager :)





     
  4. DGM42

    DGM42 New Member

    Rob
    Just goes to show how much Dotty knows.
    Some people might say Austrailian beer is Knats xxxx but that is a differnt conversation. :D only joking
    As I said to my ex - why let the truth get in the way, you will will say what you want and not jusify it, just fluffy comments with no proof.

    One thing we can all agree on though, whether north or south Brazil it is a great country and I love it - and no brit lager louts :D
     
  5. robh

    robh Administrator Staff Member Premium Member

    Funny you should mention xxxx there is an australian beer called XXXX which is a good name for it considering how bad it tastes :)
     
  6. DGM42

    DGM42 New Member

    I know that is why I put them, Castlemaine yes taste horrible.
    I like the Braziian beer though, Skol, Brahma and Itapava.
    Mind you the Bramha that you get in UK is not the real thing it is different and brewed for the UK market by Imbev unless you import it from Brazil.
     
  7. timatthebeach

    timatthebeach New Member

    Bohemia is the best in brazil for me...............................
     
  8. DirkBrasil

    DirkBrasil New Member

    Experience in Rio

    I am new to this forum, and found it very interesting to read about your experiences with Real Estate in Brasil. I ( Dutch nationality) live here more than 10 years and my wife is a Brazilian lawyer . Of this time I have lived more than 7 years in Copacabana, and have met many real estate brokers, of which 95 % would not survive a day in Europe: no respect for their clients, bad behavior , dressed in dirty T-shirts always in search of a possibility for a rip-off if the client is a foreigner. Not to forget the absolute lack of knowledge of a foreign language. Not all applies for each of them, but it certainly does in combinations of these facts.
    Lately ( last 5 years ) we have seen an increase of Portuguese and Italian investment buyers, and also the Germans are seeking advice for their purchases, where the here discussed elements of mortgage very often is a topic, and those who purchase their apartment, prefer a direct full payment .
    In a few situations, we have seen that someone purchases one ‘good apt’ and a cheaper second one and works on some modifications, to give it a European appearance. Then with some furniture included, it is rented out for ‘temporada’. Something which in Rio is an attractive investment, due to a higher percentage of occupation / year than the north east of Brasil. Also, the re-sale value in Rio is much higher , should someone want to sell it quickly if necessary. Interesting for such situations are the two bedroom apts. , of about 60 – 80 m2 , which at two blocks from the beach in Copacabana go for about R$ 250k to R$ 280k. Ipanema and Leblon have higher prices, but the furnished rented apts have a better turn-over in Copacabana.
     
  9. JMBroad

    JMBroad New Member

    Hi Dirk and welcome to the forums - thanks for sharing your experience in Rio.

    Regards

    John
     
  10. maclarke

    maclarke New Member

    Hello all. you may remember some of my earlier posts in regards to buying in brazil. Just to inform you all that i will be travelling to brazil (rio) in september to get a better idea of places to buy and what is on offer. I will apply for my CPF number in the mean time.

    One question to all...where do i find official information about when the Brazilian banks/government will offer foreigners mortgages?

    I am going to buy here in the UK before this time comes and hopefully make a stronger foundation (financially speaking) in London
    obrigado

    Matthew
     
  11. JMBroad

    JMBroad New Member

    Hi Matthew.

    I don't think you'll be able to find any official information regarding mortgages for foreigners from Brazilian banks simply because the mortgage market is so new. I'e been trying for a while and have spoken to numerous banks and bank managers, examined every development which claimed to offer mortgages for foreigners and so far never found any information to claim that it is possible. At most you might be able to get a mortgage from a developer but that is more like a loan than a mortgage - tends to be very short periods and very high interest rates (as much as 24% in some cases).

    If you do find any information though, please let me know - I'm hoping banks will start mortgages to foreigners either this year or next year but it's probably wishful thinking on my behalf.
     
  12. robh

    robh Administrator Staff Member Premium Member

    Matt,

    I have seen foreigners manage to get a mortgage by using a fairly complex company structure, but the interest rates are very high and the company structure is very expensive.

    Once the credit market frees up a bit more I am going to try and set up mortgages for foreigners once again but that will be a while away yet.

    Regards,
    Rob.
     
  13. DirkBrasil

    DirkBrasil New Member

    Private house to be sold

    Hi John,
    It happens that for health reasons of my wife ( very high blood pressure) I suddenly have to leave my house in the mountains in the south of Minas Gerais ( city of Itamonte, near the Parque Nacional de Itatiaia) , just over the border from Rio. It is located 230 km from Rio and 270 km from S Paulo. We are in the final stages of construction ( see //dirkmid myphotoalbum com) and has a constructed 310 m2 on 860m2 area. I want to get it sold as soon as possible and find a place more at sea level... even thinking of Natal. Do you happen to have any contacts for whom this might be an interesting investment? I accept anything above R$ 300k.
    Dirk
     
  14. maclarke

    maclarke New Member

    Hello All/John,

    Just to keep you informed, I went to the Brazilian Embassy 2 weeks ago and applied for my CPF (national insurance number). Once that comes through and when the time is right I will try to pursue opening a bank account in Brazil - i'm sure this will be a long process.

    I'm very committed to Brazil, so much so that I am considering taking a 3-4month sabatical from work to learn Portuguese in Country to assist with my future plans.

    Any, just kkeping you up-to-date and welcome feedback/updates that would be of interest

    thanks
     
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