Brazilian government looking to attract foreign buyers

The Brazilian government is increasing its efforts to attract foreign property buyers to the country, it has been claimed.

According to property editor for BuyAssociation Paul Collins, authorities in Brazil are making it easier for developers to build in the country, as they look to improve so-called "residential tourism".

"As more people invest in Brazil it will become easier and easier [to do so] because the processes will become more and more streamlined," he explained, noting that the process of attracting people to the country only began as recently as 2005.

However, Mr Collins also noted that while the authorities are doing "whatever they can" to increase investment, the activity is still being controlled as developers are not allowed to "build anywhere".

Recent BuyAssociation research revealed that larger land plots in the country are often undervalued, with areas in a well-established development costing approximately GBP20,000 for a 1,000 square metre site.

Like this? Then share with your friends and colleagues!