Think realistically 'when purchasing Brazilian property'
Date added: 1st April, 2011 at 10:48
(view all articles from April, 2011)
Categories: Property News
People considering spending their later years in a Brazilian property should try to be realistic with their expectations.
This is the opinion of Maria Johnston, director at Retirement Today, who explained that some people may visit a country during the summer and think they want to move there, but it is important to experience other times of year to be sure expats will enjoy it all year round.
"We're all looking for a utopia … but people have to be realistic," she said.
There are many barriers to those moving abroad and people purchasing Brazilian property should be prepared to overcome them.
"If you're going to a country where you don't speak the language and you can't communicate, things can get very difficult very quickly," Ms Johnston warned.
Other problems could arise if expats do not have enough money to enjoy a comfortable standard of living in their new nation of residence, she continued, cautioning that it may not be that easy to return to the UK if people change their minds.
The expert recently said that older people are becoming more adventurous when they choose a country to live in after retirement, with some going further afield than traditional European destinations like France or Spain.
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Numbers of hotels for sale in Brazil to rise?
Hotel Interactive reported on the comments of senior vice-president of Lodging Econometrics Bruce Ford, who explained at the BITAC luxury event that the World Cup and the Olympic Games, which are soon to be hosted by the nation, will give the industry a boost.
"They have some tremendous events coming up in Brazil over the next several years … and they will need to build hotels and they will need to become more branded," he said.
In 2014, the World Cup will be played over 12 cities in the country, while the Olympics will be held in Rio de Janeiro in 2016.
Mr Ford said that developers' plans are "largely unannounced" at the moment but he predicted that 30,000 rooms could be under construction by the end of next year.
"The more branded that they become the more that banks are going to get interested, the more that international investors are going to get interested," he asserted.
Currently, there are around 11,000 rooms being built, the news provider noted, with another 15,000 more announced as part of new projects this year.
Hotel Interactive stated that changes in the Brazilian population may also be positive news for the sector.
Indeed, the Brazilian Institute of Geography and Statistics (IBGE) recently revealed that usual real income among its people had reached R$1,540.30 (£588.57) in February compared with R$1,485.94 at the same point a year earlier, representing a 3.7 per cent annual increase.
This may reflect the increasing number of individuals in work in the country, as the figures also showed the unemployment rate dropped to 6.4 per cent last month, compared with 7.4 per cent 12 months previously.
In February, there were around 10.7 million people with jobs with formal contracts – a 6.9 per cent rise on statistics from a year earlier, or an extra 687,000 roles.
Other positive changes in Brazil reflected in statistics from the IBGE include a 1.2 per cent increase in retail sales in January compared with the month before, the ninth hike seen in as many months.
Meanwhile, nominal revenue in the sector grew by 1.1 per cent, rising for the 13th consecutive month....
Date added: 31st March, 2011 at 10:03
(view all articles from March, 2011)
More people to retire to Brazilian property?
Date added: 29th March, 2011 at 14:00
(view all articles from March, 2011)
"Massive" investment in Brazilian property reported
Date added: 29th March, 2011 at 10:32
(view all articles from March, 2011)