Brazilian government attracting property investors

The Brazilian government is making efforts to render the process of buying property in the country more straightforward for overseas investors, according to an expert.

Paul Collins, property editor at BuyAssociation, said that entering the property market in Brazil is set to become "easier and easier" for foreign buyers on account of the government's ongoing attempt to attract overseas investment.

He explained that although tourism remains the main focus of the authorities, they are also aiming to boost the market for "residential tourism", whereby people visit the country and then purchase a home.

"As more people invest in Brazil it will become easier and easier because the processes will become more and more streamlined," Mr Collins said.

"There wasn't a Ministry of Tourism in Brazil until 2005, so they have only just actively started attracting people to the country."

Shelter Offshore recently reported that the relatively low cost of living is one reason for Brazil's popularity with European property buyers.

Figures published by Halifax this week show that the value of the pound against the Brazilian real has risen by 15.3% over the last six months.

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