Introduction -
The purchase of a holiday home or second home in Brazil is only now beginning to
take off, property prices remain on the low size but as airfares, seem to be
dropping all the time this is encouraging more and more Europeans to invest in
the country. In fact, Brazil seems to be becoming more popular almost on
weekly basis. There has been a large amount of positive information in the
press, magazines and on specialist property investment television stations, all
over people in the United Kingdom are discussing the merits of buying in the
country. Until very recently, Brazil was associated with much negative sentiment
and certainly not the place an overseas investor would like to spend money. This
notion is changing rapidly, Brazil has made a commitment to fiscal and political
overhaul, and is taking great steps to promote the nation as a desirable and
safe place to visit, invest, do business and live. Land and property are cheap
and the scenery is beautiful
The Holiday Home Market in Brazil - Statistics have recently revealed that
travel and tourism in the country is growing at a very fast rate and with it the
demand for quality holiday home property, during 2007 it has grown at a rate of
7.2% – almost 3% higher than the global average increase – and that for the next
decade this increasing intensity of demand is expected to remain exceptionally
strong. Although home prices remain low compared to European standards, they are
being fuelled by the influx of overseas residential and commercial investors,
multinational corporations and property developers who are all keen to latch on
to the Brazil success story. Probably what most people do not realise is
that insurance for your holiday home or second home in
Brazil is available from the United Kingdom in a policy wording that is written
in English and will cover a wide range of insurance including property owners
liability Insurance. If you are going to rent your property our, making sure you
have adequate insurance protection is essential. Further, If you decide to let
your property, then make sure you ask a solicitor with local knowledge if there
are any special rules and regulations relating to letting property to tenants.
Why Invest in Brazil - Brazil, is a giant of a country, it covers nearly
half of South America and is the continent's largest nation, historically, it is
the only country in South America that derives its language and culture from
Portugal. It borders every nation on the continent except Chile and Ecuador and
is the fifth largest country in the world, behind Russia, Canada, China, and the
U.S.A. This massive diverse country has an area of eight and a half million
square kilometres. Geographically, Brazil Brazil may be divided into the
Brazilian Highlands, or plateau, in the south and the Amazon River Basin in the
north. The dominant feature of the country is the Amazon river and its more than
200 tributaries. The Amazon is navigable for ocean boats to Iquitos, Peru, some
3,700 km upriver. Even though, this is a country of vast proportions, most of
its population is concentrated in the major cities located on the coast. The
vast urban areas of Rio de Janeiro and Sao Paulo dominate the southern coast. On
the north, towns such as Salvador and João Pessoa have managed to keep the old
style colonial feel and are well worth a visit. As far as property
investment goes, is the northeast of the country that seem to be receiving the
bulk of the attention, in recent years , it has become far more accessible, it
is able to boast low crime levels and you don't need to study too many photos to
understand why is is highly desirable as a holiday location, thankfully, there
is lots of property on sale. Climatically the winter lasts from June until
August and summer is considered to be between December & February.
Buying Property in Brazil - Like most other countries, property in Brazil is
mainly purchased via an agent and you should of course obtain your own
independent solicitor who can advise you on the procedure. Before you will be
allowed to buy property, you will need a Brazilian identity card called a CPF.
To obtain this document, you will need your birth certificate to be translated
into Portuguese by a certified translator and legalized by the Brazilian
Consulate in your home country. This will then need to be taken to the
Banco De Brazil with your passport and birth certificate in order to formally
apply for the document . There is a small charge for this service and it is
usually very quick. Initially a verbal offer to buy is made and as the
bulk of property being sold at the moment is new build, you should enquire from
the developer as to the exact procedure. You will find that in many cases it
varies from developer to developer. As far as legal costs go, they are fairly
reasonable and shouldn't set you back more than a £1000.00. Remember to budget
for the on going costs of Brazilian holiday home insurance. For his or her
money, your solicitor should check a number of things including the following;
-
That the current owners has the correct title to
the property being sold.
-
Will perform checks to see if there are any charges
and liabilities outstanding on the property
-
Check the contract and be able to advise on the
obligations for both parties.
-
Provide you with assistance to transfer the payment
funding.
-
Oversee the registering of the property in your
name.
-
Related purchase cost will vary from region to
region but expect between 3 & 7% to be normal
So if you are seeking an holiday home insurance quote for a property in
cities like Amsterdam, Rotterdam, Eindhoven and Tilburg why not see if we can
help? In addition, Assetsure provide overseas property insurance and
holiday home insurance for other countries including Australia, Austria,
Belgium, Bulgaria, Brazil, Canada, Cape Verde, Chile, Croatia, Cyprus, Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece,
Egypt, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Liechtenstein,
Luxembourg, Malta, Monaco, Montenegro, Morocco, Netherlands, New Zealand,
Norway, Poland, Portugal, Romania, Slovakia, Slovenia, South Africa, Spain,
Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom
(UK) and Venezuela.
Guide to Holiday Home Insurance Brazil