You’ve been to Rio de Janeiro, cherished your holiday, likely to return often therefore you are currently contemplating buying real estate for both an investment and a domicile. Your strategy can’t be any greater because Rio’s real estate property has been really good and most probably will proceed through 2016.

For somebody not really acquainted to the area, the language or the culture, it is extremely recommended that you use a real estate broker. It won’t cost you anything because the owner will pay the broker fee on the purchase. In Brazil, property agents are part of a specialized organization and ought to be able to produce an identity card that consists of their CRECI license number. Moreover, it is recommended that you likewise utilize a real estate lawyer to confirm the legal owner of the apartment and that there are absolutely no outstanding liens.

To no surprise, acquiring a penthouse apartment in Rio de Janeiro’s most affluent areas such as Leblon, Ipanema and Copacabana can be very expensive. Throughout the last five years, their worth have drastically climbed. Normally, flats in these locations go for R$6,000 to R$10,000 (R$=Reais) per square meter (M2). The higher of the rates belonging to flats in close proximity to the beaches. A 90 M2 unit which is around 1,000 sq ft can average R$720,000.

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If you need a mortgage loan, Brazil is a rather effortless location to qualify. First you will require a CPF number. This would be the equivalent to a social security number in the United States. You can aquire this at your local Brazilian consulate or in the post office in Brazil. 2nd, you will need the minimum down payment of 20%. The more you place down, the better given that the rate of interest in Brazil is 12%. The last component is a Brazilian banking account along with proof of income. The lender will generally need to view 6 months of deposits equaling your stated cash flow. With all these ingredients in position, you are prepared to buy your dream vacation apartment in Rio de Janeiro.

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