HOMES and LAND FOR SALE
Wish you were here...?
Brazilian law allows for foreign non-residents to own homes and land in Brazil, with few restrictions, and tourist visas allow visits of up to 6 months a year. Many foreigners own on the island – either for personal use, rental income (or a combination of both), or purely for investment purposes. A few foreign owners live here permanently, more visit for between 2 weeks and 6 months a year, and some are just leaving their investments to appreciate.
See here: https://www.youtube.com/watch?v=qE7_n-X05fw&t=63s and here: https://www.youtube.com/watch?v=nMqYq6n9YYc&t=119s to watch drone videos of the island and developments to get a better idea of what to expect.
While the process to buy and sell is certainly bureaucratic by western standards, when using local English-speaking experts it can be a stress-free and enjoyable experience. Prices are surprisingly low for a home on the beach of a tropical island, and land banking is also popular for the medium to long term investor.
All real estate purchases and sales are conducted in the Brazilian Real (R$) currency, with contracts written in Portuguese, although translations can be asked for. It is important to follow the correct procedures, and to appreciate international foreign exchange laws, so getting professional advice, in English, is absolutely essential.
Visit here: http://www.pfci.com.br/pfci-english/ for an English language real estate website operated by an independent local licensed broker.
To talk to an English speaking independent licensed Brazilian attorney, specialising in real estate and immigration, email Mrs Adriana Freire Colares at email@example.com
Using exchange rates of US$5.50, £7.20 and €6.50, some examples of homes and land for sale on the island are:
3 suite beach front apartment, unfurnished R$315,000 ($57,300, £43,750, €48,500)
2 bed 2 bath beach front apartment, fully furnished and equipped R$335,000 ($60,900, £46,500, €51,500)
3 bed 2 bath beach front apartment, unfurnished R$350,000 ($63,600, £48,600, €53,850)
900sqm building land, with excellent ocean view from the top of a hill R$60,000 ($11,000, £8,350, €9,250)
16,000sqm building land, with 180° ocean views, and close to the beach R$950,000 (£173,000, £132,000, €146,000)
+ various detached and semi-detached houses, on or close to the beach (most may benefit from some renovation/modernisation work), from R$250,000 – R$1,000,000 ($45,500 – 182,000, £34,750,000 – 139,000, €38,500 – 154,000)
There are English speaking property and rental management services on the island, who can look after your investment in your absence. Short and long term rentals are common in the Brazilian market here, so you will not have to rely just on foreign visitors for bookings.
Naturally a detached house with a pool may appear more desirable, but the associated holding (running) costs are considerably greater, as are the taxes and annual maintenance, and these houses are harder to rent out part-time. Most foreigners invest in low-rise beachfront condominiums, with the idea of some personal usage, and rental income to offset costs when they are not here – and with the big advantage of in-house property management.
Whatever you may consider, property management and a schedule of maintenance is essential.