The Brazilian economy shows the highest rate of development in South America. This large country with a comfortable climate is perfect for investing and doing business. And if you are thinking about moving to the country, we advise you to study real estate in Rio de Janeiro – a modern city with developed infrastructure.
Real estate in Rio de Janeiro: rules for buying a home
People who are thinking about investing in real estate in Brazil, primarily consider options for objects in major cities: Rio de Janeiro, São Paulo, the capital of Brasilia. For vacationers are attractive apartments or comfortable villas overlooking the coast. Many people buy local real estate in order to rent out and get high additional income.
The difficulty in buying housing for foreigners is the lack of dual citizenship. Therefore, if you plan to move to a country, you will need to pass the procedure of renouncing one citizenship and obtaining another.
During 5 years the real estate market shows stable growth. For the World Cup in 2014 were built new facilities, modern transport interchanges, and improved infrastructure. The cost of housing increased by almost 20%, but after the championship the situation at the real estate market stabilized slightly and the growth slowed down.
The most expensive city in Brazil is Rio de Janeiro. It has clean beaches, a huge selection of luxury mansions on the oceanfront. On average, a square meter of living space costs 3500 dollars. The price of a two-room apartment in the new house is 180-200 thousand dollars. At the secondary market similar housing can be purchased a little cheaper – by 10-25%.
Luxury real estate in Rio de Janeiro starts from 1 million dollars. And if you intend to buy a villa on the ocean, you will have to pay from 800 thousand dollars. Rent of apartments starts from 800-1000 dollars.
For foreigners, the procedure of buying an apartment or house in the country does not cause difficulties. Buying real estate here, they get a reusable visa. In addition, a residence permit can be issued by a simplified scheme.
Once you have chosen a suitable facility, you must register with the local tax office to obtain the taxpayer number. The procedure is mandatory for both legal entities and individuals.
Sale and purchase agreement must be registered by a notary. For its services it must pay 2-5% of the total cost of housing. Another type of expenses is the state duty, which also makes 2-5% of the total amount. Tax on the transfer of property rights is another 3%.
An important point to consider before buying a property in Rio de Janeiro – the availability of a passport for housing. To avoid fraud on the part of the seller, it is better to ask about this document and take a certificate from the appropriate authority.