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Brazilian beach-front land 'a hit with investors'

Article Date : Monday, April 16, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

There has been growing activity from foreign investors in the Brazilian property market in the last 12 months, Homesgofast.com has said.

According to Nicholas Marr, spokesperson for the online firm, investments in land, particularly beach-front land, is becoming increasingly popular, while off-plan investments are now less favoured.

He added that rather than multi-national companies buying up land, private investors "with a bit of money" are starting to take control of the market.

In particular, the fishing village of Cumbuco, which is famous for its beach, is proving to be an appealing prospect for land investors.

However, he warned that for anyone considering buying property or land in Brazil, it is imperative to seek advice from a lawyer.

"You definitely, definitely need a lawyer, because title can sometimes be an issue. You need to get a CPF number [individual taxpayer identification number] and to get that you need your birth certificate," he stated.

"It's not that straight-forward, it's quite bureaucratic. You definitely need someone who knows what they're talking about."

Last month, property firm Escapes2 said that newly developing markets, such as Brazil, are a good place for investors to make a profit, especially where property demand outweighs supply.
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