'Research thoroughly' before buying Brazilian property
Date added: 11th May, 2011 at 10:45
(view all articles from May, 2011)
Categories: Property News
People considering an investment in Brazilian property should make sure they do their research.
This is the opinion of Peter Mindenhall, researcher at IPINGlobal.com, who explained that regulations can be very different in one country compared with another.
"Due diligence cannot be stressed enough," he said. "The volume of investors that have problems that could have been avoided by doing a little more research prior to making an investment is vast."
Although there are some risks to buying property overseas, the expert suggested that these could be worth taking.
He explained that foreign real estate investment offers more diversity than purchasing locally, but warned that the additional complications of exchange rates, taxes and interest rates can affect returns.
These are some of the factors that some people may overlook when they buy property overseas, Mr Mindenhall added.
Director at Shelter Offshore Rhiannon Davies recently recommended that those investing in foreign real estate visit the country they are interested in outside of the peak tourist season to get a realistic feel for the place.
Property Bond was established in 2003 to sell Brazilian Property to overseas investors, guiding buyers throughout the purchase process. It also offers a consultancy service for clients wishing to enter into Brazil or make contacts with suppliers.
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