By Lisa Flueckiger, Senior Contributing Reporter
RIO DE JANEIRO, BRAZIL – Buying a piece of real estate in Brazil not only secures a place to live in, but can also be an excellent investment opportunity. However, there are many hurdles to overcome in the process of buying property as a foreigner, so Alessandra Marzano from real estate company Rio Exclusive will take the opportunity to talk about it in more detail at the The Rio Times TALKS event on Wednesday, May 27th at La Calaca restaurant in Leblon.
Securing a home near one of the wonderful beaches in Rio de Janeiro or investing in the future are usually the main reasons of buying property in Rio or Brazil in general. The first step and usually the main question many have is about the financing possibilities foreigners have to do so.
Alessandra Marzano, from the Rio Exclusive Sales department, agrees: ” [The first question is] definitely how to bring money in the country to purchase a property, and how to send back the money after a sale.”
However, she cautions: “There are no financing options for foreigners, they obligatory have to pay cash. At first they need the deposit amount (usually, between ten and twenty percent) then it could take up to three months to close so they would have to bring the remaining [amount] then.”
Currently, the real estate market is becoming more attractive for investments, as prices are slowly coming down after years of soaring. In Rio de Janeiro, purchase real estate prices have only increased 0.68 percent in the four months of 2015, while inflation had been at around 4.5 percent in the same period.
Asked about the best opportunities in the next two to five years in Rio, Marzano says: “It is very hard to tell, but our estimate is that Barra da Tijuca will continue to have the best price for value overall, and in the Zona Sul [South Zone], probably Copacabana.”
In addition to the expert discussion on buying property in Brazil, Mathieu Piques from Europartner will speak about setting up a business in Brazil and Amit Ramnani from Ipanema Wealth will speak about financial planning strategies in Brazil for foreigners. The event will be moderated by Kim Levone from Improbable Comedy, and include a short comedy introduction by her team.
Entrance to this event will be limited to fifty places, and a guaranteed seat requires pre-purchasing a ticket for R$50 online. If seating is still available on the night of the event, entrance will be R$80 (cash only). In addition, the hosts La Calaca will have a small R$30 minimum consumption with special promotions of: R$10 margaritas and R$20 gourmet taco plates.
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What: The Rio Times TALKS Series
When: Wednesday, May 27th, 7-9:30 PM
Where: La Calaca Restaurant, Av. Ataulfo de Paiva, 1240, Leblon, RJ
Entrance: R$50 reserved online/R$80 without (cash only), plus R$30 minimum consumption