Buying real estate in Brazil

4 min

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Buying Brazilian real estate is interesting not only to business people who intend to profit from their investment but also to potential immigrants who want to live or occasionally relax on the ocean shore. The Brazilian real estate market offers a wide range of properties – from beach houses in resort areas and apartments in the capital to agricultural land. Due to the high demand among foreigners, real estate in Brazil is growing in value by about 5% every year.

Buying real estate in major Brazilian cities is a relatively safe investment. It should be noted that Brazil has a secure, organized property registration system. Thanks to a well-developed real estate market, buying a home in Brazil today is not a problem for foreign citizens.

The real estate market in Brazil is represented by upscale penthouses, family houses, conventional apartments, and commercial real estate. Moreover, it is often possible to buy luxury apartments and even villas quite cheaply – prices for them vary greatly.

You can buy cheap property in Brazil, but its cost will depend on what type of housing you are interested in. In addition, you can purchase a piece of land and, if time and money permit, build it up of your own free will.

Pros of buying a home in Brazil

Buying real estate in Brazil is primarily of interest to foreign businessmen. Major cities such as Rio de Janeiro, Brasilia, Sao Paulo, and Belo Horizonte are the most popular for investors. On the other hand, Brazil is a popular country not only in terms of international trade and business but also in terms of recreation. Therefore, many foreigners buy real estate in resort areas along the coastline of the Atlantic Ocean in order to enjoy the tropical climate and “eternal summer” at any time. In addition, buying a villa on the coast can be quite a lucrative investment if rented out to tourists.

Market offers

If you look at the photos and prices for real estate in Brazil, you will notice one important pattern: the closer it is to the coastline, the higher its value. But in addition to the proximity of the ocean and stunning views from the windows, housing prices are also determined by its condition, service life, the number of square meters, the presence of a yard and a pool.

For example, a two-room apartment in a new building with an area of 70 sq. meters in one of the major cities in Brazil can be purchased for an average of 75 000 US dollars. An apartment with an area of 127 sq. meters with three rooms in a new house can be bought for an average of 150 000 US dollars. Elite offers and penthouses on the primary market start at US $ 300,000 and up.

If a three-room apartment in a new building costs about 200 000 US dollars, then in the secondary market the same apartment will cost 150 000 US dollars, that is, it will cost 25% less.

Buying houses and villas

Prices for houses and villas in Brazil largely depend on their location. If you take, for example, a house in Rio de Janeiro, then for a mansion in the city center with 5 bedrooms they ask for $ 1.5 million. However, you can consider housing options near major cities and buy a house in Brazil much cheaper. For example, in the town of Buzios, which is 200 km from Rio de Janeiro, an 8-bedroom house can be purchased for $ 550,000.

Prices in Sao Paulo

São Paulo is considered the unofficial capital of the country, it is the largest business and financial center. Locals (and not only) call it “Latin American Chicago”. Sao Paulo is considered one of the most attractive cities for real estate investment in the world and the most stable market in Brazil. Average cost of 1 sq. meter of real estate in Sao Paulo is about 2,800 US dollars. The most expensive housing is located on the coast of the Billings reservoir, where the minimum cost of a two-room apartment is about 200 000 US dollars. Most sought after in the area are oceanfront villas from Praia Grande to Peruibi. Houses and townhouses by the ocean cost from 200 000 US dollars and more, the minimum cost of a villa in Sao Paulo is 500 000 US dollars.

Prices in Rio de Janeiro

The most expensive real estate today is located in Rio de Janeiro, a city that combines beach and metropolitan traffic, making it extremely attractive to foreign investors.

If you are looking to buy a home in Rio de Janeiro, you should keep in mind that this city is the most expensive in Brazil.

The skyrocketing housing prices have been particularly impacted by the hosting of the 2020 FIFA World Cup and the 2020 Summer Olympics. 1 sq. a meter of living space in Rio de Janeiro today costs approximately $ 3,500, and a two-bedroom apartment in a new building will cost approximately $ 210,000.

How much an apartment in Rio de Janeiro costs depends primarily on the area. So, the northern zone of the city is the Brazilian slums, favelas. It is mainly home to the poor. And although housing in such an area is relatively cheap, there are few applicants for such real estate.

If you want to live closer to the historic city center, areas such as Lapa and Santa Teresa are worth considering. The most prestigious areas of the city are Ipanema, Copacabana, Leblon, Botafoga and Flamengo, located in the southern zone. If you are ready to consider elite options, then, for example, you can buy an apartment in Leblon Rio de Janeiro for about $ 1 million, and a villa on the ocean for $ 800 000.

Purchasing Process

Buying real estate in Brazil requires several requirements:

  1. it is necessary to issue a taxpayer number by registering with the tax office: individuals must issue a CPF (Cadastro de Pessoa Fisica), and legal entities – CNPJ (Cadastro Nacional da Pessoa Jurídica);
  2. register a purchase document with a notary and pay a commission of 2-5% of the total purchase amount;
  3. pay a state fee;
  4. pay tax on the transfer of ownership of property.

Required documents

Before starting the transaction registration process, you should check the status of the acquired property in a special document Matricula. This document is a kind of passport of the object – it contains data on all previous owners, transactions and encumbrances associated with housing.

If everything is in order with the housing status, the buyer can start preparing the following documents:

  • CPF;
  • translation of the passport, certified by a notary;
  • a document confirming the registration of a foreigner in the state register.

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