Buyers of property in Brazil 'must check currency rates'
Date added: 12th March, 2010 at 09:24
(view all articles from March, 2010)
Categories: Property News
People who are considering buying a second home abroad may need to check the currency rates before they make their purchase, it has been stated.
Property journalist Marc Da-Silva explained that the issue of currency fluctuations "cannot be overlooked", as it is "fundamental".
"Currency is huge - basically, it can almost offset any price reduction," he commented.
People who are thinking of buying property in Brazil may therefore wish to take this into consideration.
Mr Da-Silva added that some people may find that buying a house abroad may be a good way to avoid the higher tax rate which is being introduced in the UK next year.
This comes after the latest Primelocation International Search Index showed that more people are searching for international properties online.
The research found that between January 2009 and January 2010 there was an increase of 134 per cent in the number of people looking to buy a house abroad.
According to the Brazilian Embassy, people who are thinking about buying property in Brazil should get advice from a lawyer about taxation issues.
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