Be wary of poor property deals, Brits warned
Date added: 17th July, 2009 at 09:04
(view all articles from July, 2009)
Categories: Property News
British people thinking of investing in property in Brazil and other international destinations have been warned to make sure they do not fall victim to scams.
The National Association of Estate Agents (NAEA) International said that many "dressed up timeshare schemes" are coming to light during the recession because people may think that they are a better deal.
However, spokesperson Linda Travella said that such fractional ownership schemes may not be as beneficial for investors as properties that they can own themselves, which are likely to generate better returns.
"I do not think that fractional is necessarily the way to go because of the recession. The economic downturn means that you can easily find a property for [£85,857.10] and even for [£42,915.24] in some countries, even if it's not quite so luxurious," she pointed out.
However, Ms Travella said that this need not put people off investing in property altogether - rather they should do their research and speak to a reputable firm in order to come to a good decision.
"It should be gone into with careful planning and look at all the options. For some people it could be perfect," the expert concluded.
Traditional timeshares only give investors usage of the property for an allotted period of time each year with no claim to ownership of the property.
For anyone confused about investing in property in Brazil, Property Bond International could be an ideal place to start.
The firm has offices near Canary Wharf in London and specialises in unique development opportunities and sales in Brazil. It deals with properties in the popular north eastern part of the Latin American country - including Salvador, Fortaleza, Joao Pessoa and Natal - since it believes this to be the best location to generate returns.
Property Bond International provides services for a wide portfolio of clients, from small private investors to large corporate investors, so Britons should feel confident about approaching them, even if they are considering a small purchase such as an apartment.
Importantly, it will also provide assistance and full support throughout the purchase of the property, which includes applying for all legal documentation and transferring money internationally.
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