Off Plan property Finance Brazil
Did you know that it is now posible to get a Mortgage in Brazil to finance an off plan property this is a 100% off plan finance model, .
I dont belive that you can buy property in this method anywhere in the world I have not seen it in other emerging market
The brokers showed me a way of buying which is paying monthly over the build period which will take the amount paid to 30% when the property is ready. What a great way to get into Brazilian real estate
I met with a Local english speaking Broker who took me to visit a site and see a project that has a payment plan of paying 30% of the purchase price over construction this means I can keep money in My bank and not Agents and Builders
My monthy payments are $1200 usd and the fees with Legals came to $2000 this includes my CPF number
In thirty six months the building is compleated and I will be able to rent the property, I can finance the ballance over 16 years if need be but more than likley i will pay it off in 5.
I will pay off the ballance be renting to long term tennants or vacation rentals, This will be on compleation and I will have only paid 30%
I look for properties that will have a high demand for rentals always remember the first rule of property location location, prices come second to me.
Delta starts flying direct to Fortaleza in December from Atlanta, and TAP have daily flights from Libon in Portugal this is why i think Fortaleza is currently the ideal investment
The first golf course in North east Brazil will be open in December the first 9 holes the other 9 holes will be in the new year of 09.
Also there will be eight five star hotels and a shopping centre right on the beach work has already started on this I was there in September,
Fortaleza should be one of the Host cities for the 214 world cup one of the FIFA requirements is a metro train link for public transport or Tube this will be one of only a few in Brazil,
Think about who will buy your property when you sell make sure to buy in an area where you will be able to sell to a local person not just a tourist
I look at countries that have a very good internal market, that’s why I chose Brazil They predict that the local market is so good property prices will increase by 20% for the next 10 years
To find out more on 100% off plan finance contact link www.brazillandconsult.com
Before you buy in brazil talk to the experts we will save you moneyhttp://tinyurl.com/4xtv54brazil mortgage Get a totally unique version of this article from our article submission service
Thomas Katzovitz on October 7th 2008 in Real Estate