Everything you need to know about Living, Traveling and Doing Business in Latin America
Real Estate
Brazil Real Estate Classifieds | Brazil Real Estate for Sale
Brazil Real Estate classifieds selected for you by Go 2 Latin America. Read more below to find the information you need on buying houses, apartments, flats, condominiums, townhouses, tourism development properties and islands.
The largest country in Latin America, Brazil offers unlimited real estate investment opportunities. From beachfront paradises on the northeastern coast to 5-star condominiums with full services and amenities in São Paulo. Whether you are looking for a vacation or an investment property, Brazil, with its splendid weather, breathtaking landscape and jovial people as well as favorable currency exchange and permission for foreigners to buy and own real estate properties, is the place of choice for your future "home away from home".
“Foreign buyers are attracted as ever to the prices, weather and beaches in this vast and tropical country, and demand has been increased by the recent popularity of all things Brazilian.” - International Herald Tribune.
Click on the menu above to start researching a property.
Why Buy Real Estate Properties in Brazil?
Brazil offers promising investment opportunities in property, business, and potential future developments. Property prices, especially in the Northeast states of Bahia, Sergipe, Pernambuco, Rio Grande do Norte, Ceará, are for example, remarkably lower than in Southern Europe.
Some of the main reasons and factors that justify investing in Brazil are:
- The economy. It is commonly acknowledged that Brazil will be one of the future economic leaders along with Russia, India and China.
- The tourism industry is booming and foreign hotel groups and property developers along with multinational companies (tourism and other sectors) are already making huge investments, especially in the northeastern region of Brazil.
- The exchange rate continues to be very favorable.
- Cost of living is 20% to 40% of that in Europe and the U.S.A.
- Brazil is a low risk country in terms of natural disasters, terrorism and armed conflicts.
- The country's 8,000 Km of coastline, still reserves vast virgin areas that are available for property developments. A great part of the hinterland remains unexplored.
- There are several opportunities for buying off-plan properties (i.e. before or during construction), when prices are still low (investors can expect an increase of 15 to 60 per cent in property value when work is completed and profits on sales can range from 40 to 100 per cent).
Thanks to Alex Willi from Bahia Real Estate Ltda for some of the above information.
See also our Becoming an Expat pages > Settling in > Finding Accommodation
Useful Information for Buying Real Estate Properties in Brazil
"Brazil is a fantastic country that can offer some outstanding life-style opportunities for the right person. Unfortunately, there is not much information available for people looking into something more than a brief tourist adventure. Property purchase requires detailed understanding of the requirements of the law and the dynamics of the search, negotiation and buying processes.
This article is not intended to serve as an authoritative source of information related to dealing with a variety of situations in Brazil. Instead, it serves the purpose of answering some of the most common questions pertaining to a number of areas as well as orienting you in respect to the possibilities of situation assessment, requirements and, of course, action.
I am a strong believer in pre-emptive approach to solving problems. It is much easier and a lot less expensive to take some evasive and precautionary actions than to deal with full-blown unanticipated problem. It is even truer in any country where you have numerous disadvantages of unfamiliarity with judicial process and law, language and culture.
Here are some of the terms and requirements of conducting Real Estate transactions in Brazil:
- Can foreigners buy or rent Real Estate Property in Brazil?
Yes, we can. Foreigners are permitted to buy, own and rent Real Estate Property. By law Brazilians and foreigners are on almost equal footing when it comes to property ownership and tenant rights. Non-Brazilians are subject to certain limitations dictated by national and security interests. Foreign Governments can't own Real Estate Property except buildings and properties used for consulate or embassy sites.
Sources and further information:
Constitution of Federal Republic of Brazil Article 5, Item XXII. Any local Cartório [Public Notary] Office
- What documents do I need to buy or rent property in Brazil?
Your travel passport is usually enough in order to sign a rent lease agreement. To buy a property CPF (Cadastro da Pessoa Física / Tax Identification Number) is also required. CPF is easily obtainable by foreigners (see our Becoming an Expat pages).
- Who can I use as a rental/real estate agent?
There are numerous business establishments and licensed individuals who can offer your services of apartment rental brokers or for sale property listings.
- "Administradoras" - Business specializing in administering Real Estate properties for individual owners or condominiums.
- "Imobiliárias" - Essentially Real Estate Agencies
- "Procuradores" - (Real Estate Brokers) Businesses specializing in locating desired properties.
All these businesses can be found in local Yellow Pages under "Administração de Bens", "Administração de Condomínios", and "Imobiliárias".
Needless to say, references and direct referrals can save you from unscrupulous operators. In case of untried and unknown agent you might want to verify that the individual or business you are dealing with are members of CRECI.
- What is CRECI (Conselho Regional de Corretores Imobiliários) or Regional Council of Property Managers?
CRECI is the Professional Organization regulating career Property Managers and Real Estate brokers. Only registered members are legally allowed to work as Corretores (Property Managers). While CRECI membership is not a guarantee against dishonest actions by certain individuals or companies, it provides you with at least additional leverage and official complaint organ.
- Do I need a local lawyer to conduct Real Estate transactions in Brazil?
It is not mandatory, but recommended.
- Can I lose the rights to my property?
Yes, under certain circumstances you can.
- What is a "Registro Imobiliário"?
"Registro Imobiliário" is the statute of Real Estate Property. In order to claim possession of a Real Estate Property you have to register the transaction of property ownership transfer at "Registro Imobiliário". Usually takes place at "Cartório do Registro de Imóveis" located in the same jurisdiction as the property, but can also be conducted at any location by an authorized official.
There is an expression "quem não registra não é dono" (Who doesn't register is not the owner). Your contracts and agreements are not valid until they are registered in Cartório [Public Notary].
- What is the extent of the degree of publicity about ownership of property in Brazil?
It literally means that anybody can have access to property ownership information without any reason or authorization.
- What is "Matrícula"?
Matrícula is the passport of a Real Estate Property; the only legal relationship between the property and its "Matrícula" is one-to-one. Besides uniquely identifying a property, "Matrícula" contains detailed description and historical records of all legal, judicial and financial transactions pertaining to the property and full information, such as description of the property, its precise address and location, past and present owner information, mortgages etc.
- Do all Real Estate Properties have Matrícula?
No, not all of them do. Only properties that were constructed or involved in some type of legal or financial transactions since December 31, 1973 have one.
- What happens if the property was altered through construction or natural causes and doesn't correspond to the description contained in "Matrícula" any more?
Property description needs to be changed through a judicial process called "Processo de Retificação". Unless you are willing to plunge into legal quagmire, verify that the property description contained in "Matrícula" corresponds exactly to reality. To be specific, you buy what is on the paper, not the Real Estate property itself.
- What documents do I need to request from property seller before considering buying a property?
At a minimum the documents you should ask for are:
- A copy of "Certidão de registro da Incorporação no Cartório de Registro de Imóveis".
- A copy of "Convenção de Condomínio".
- A copy of License of Construction ("Alvará").
- A Copy of Architectural Plan of the construction approved by the Mayor's Office.
- What do I need to do when I find a property that I'd like to purchase?
- Check for "Matrícula" of the real estate property. "Matrícula" is a document that contains information about all transactions directly related to the property since its construction. IPTU [Urban Territorial Tax] values, owner information, ownership transfers… It takes about R$ 10 and three days to obtain a "Matrícula" through a local "Cartório de Registro de Imóveis".
- Verify that the property is debt and lien free. In order to verify IPTU payment complacency check with the "Prefeitura" [City Hall] by submitting the "número do contribuinte" (registration number) indicated in "Matrícula do imóvel".
- Verify that the condominium fees are paid off. Any debts on the property can and should be taken into consideration during the negotiation.
- How much should I give for a "Sinal"?
"Sinal" (down payment) can range anywhere from 5 percent to 20 percent of the agreed value of the property.
- Can I pay for my property in currency other then Real?
No, always pay in local currency.
- What is an acceptable commission paid to the Real Estate agent for sale or exchange of a property?
The standard fee is 6 percent of the value of the deal (property). In case of property exchange, commission is usually split up between the parties involved. In sale, the seller pays.
This article was originally published in Brazzil Magazine, Jan 2002. Thanks to the author Boris Goldshmit and the Consulate General of Brazil in Los Angeles for making this article available.