Brazil’s federal government prepares mega sale of real estate starting this month

The first phase of the federal government's real estate privatization program begins in Rio de Janeiro, followed by São Paulo and other cities; more than 3,750 homes, lots, and farms are mapped out.

RIO DE JANEIRO, BRAZIL - The Brazilian government owns about 750,000 properties nationwide, much of which is unused, encroached upon, or simply in irregular commercial use.

These range from land and apartments in the best cities such as São Paulo and Rio de Janeiro to farms and land throughout the country.

Many of these assets ended up in the federal government's hands because of unpaid financing, fines, and other pending legal issues. A purge has filtered out properties that can now be made available and sold.

Later this month, a mega auction will be held for the properties . . .

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