The only southern hemisphere country to appear on the rich list. Rich in mining and agriculture. Exports a lot of shoes, cars and corned beef.
Tourism is a new industry in Brazil, increasing by 30 per cent in the last year alone, and the property market is hot on its heels. And, despite being rather new on the international property-buying radar, this South American country seems to be ticking all of the right boxes for investors, holiday homers and retirees alike. A diverse landscape, rich culture, idyllic climate and affordability (the cost of living in Brazil is just 20 per cent of the UK) are just some of the reasons why British buyers have started flocking here – but property prices are the reason they are staying. The natural beauty of these area have been complimented by a range of high-quality developments and inward investment, meaning that capital growth is on the up. But a purchase here isn’t all about money – some of the purest water and cleanest air in the continent has been found here. Glorious beaches and an excellent climate, compliment good value for money – a mix which many purchasers believe will pay dividends in the long run.
Investment potential
Today Brazil ranks as the 10th largest economy in the world, following a recent boost in GDP. And such growth is set to continue, with the nation’s economy predicted to become the fifth biggest on the planet by 2035. Such figures bode well for investors and, when coupled with the fact that rental yields in tourist destinations range from between six and 12 per cent.
However, many investors are choosing Brazil for potential capital growth. Some areas of North Eastern Brazil, especially around NATAL, are currently attracting as much as 20 per cent annual capital appreciation – and other areas are expected to rise too.
In addition, investment syndicates are well provided for – as up to ten names are allowed to be registered on the title deeds – meaning that you may be able to get on the Brazilian property ladder for even less than you bargained for.
Keys Facts for travellers to Brazil:
Visas, residency and work permits
If you wish to obtain a permanent residence permit you will need to prove that you have funds in excess of US$50,000 (£25,000), but even then this visa is only issued on a five-year conditional basis. In order to re-validate your visa you must show the Federal Police how you have invested in, and therefore improved, the local economy. However, if you are planning on employing Brazilian staff, whether in the home or workplace, then this initial investment figure may be reduced.
Meanwhile, if you are thinking of retiring to Brazil then you must be over 50 and receive a monthly pension of over $2,000 (£1,000) per calendar month. Of course, if you are only planning to stay in Brazil for short periods of time, then a tourist visa will suffice. Tourist visas forbid you from working, and you are only allowed to stay in the country for up to 90 days. You will also need to produce a return ticket on arrival
Transport
As you would expect from a popular tourist destination, transport in Brazil is of a good standard. The government’s commitment to opening up the country to tourism has resulted in the upgrading of several new airports, and there has been further investment into new roads and general infrastructure.
Many airlines fly to Brazil from the UK – including the national carriers Varig and Tam. Both of these firms also offer a range of domestic services, however be aware that even domestic flights are subject to departure tax in Brazil. Due to the sheer size of the country, however, you may be left with little choice.
Although, if you are determined to stay on the ground, there are a number of options available to you. Despite lacking serious investment, the train services in Brazil boast some truly scenic journeys, which can prove a popular choice if time is on your side. For shorter distances it is feasible to hire a car, however be aware that this may not be the safest option available to you. Tourists are generally advised to carry plenty of water and a detailed map – and not to stop at red lights if you can help
