russell

[russell danish]

hi, I have spent a good part of today viewing this foram as a guest and decided to join. I would like to buy an apartment in rio but most web sites cocentrate on the north east.I am not rich so it would have to be a studio or one bedroom place ( I know property here is considerately more expensive than the north east)
I go to rio once or twice per year and have many brasilian friends there so I know the city quite well. I also have a reasonable grasp of the language ( although I am not fluent). My questions are these: Are there any good websites for property in Rio or am I better off looking when out there? Can I get finance in england as I understand the mortgage business in Brasil is in its infancy. Are there any particular pitfalls to avoid when buying. I am not looking just to make a quick buck but a sound investment would be nice! Any advice would be greatly appreciated

[robh]

Originally Posted by russell danish

hi, I have spent a good part of today viewing this foram as a guest and decided to join. I would like to buy an apartment in rio but most web sites cocentrate on the north east.I am not rich so it would have to be a studio or one bedroom place ( I know property here is considerately more expensive than the north east)
I go to rio once or twice per year and have many brasilian friends there so I know the city quite well. I also have a reasonable grasp of the language ( although I am not fluent). My questions are these: Are there any good websites for property in Rio or am I better off looking when out there? Can I get finance in england as I understand the mortgage business in Brasil is in its infancy. Are there any particular pitfalls to avoid when buying. I am not looking just to make a quick buck but a sound investment would be nice! Any advice would be greatly appreciated

Hi Russell,

First of all what sort of budget do you have? I have seen a Brazilian/US company who specialise in refurbishing apartments in Copacabana and Leblon area. The pricing seems reasonable and their standards seem top notch.

The only mortgage you can get that isn't ridiculous is an equity release on your property in the UK.

Pitfalls: I believe in Rio there is a lot of leasehold which is owned by wealthy families, so that needs to be checked out, I think also title insurance is worthwhile to have down there.

The age of the building: I also believe there is some law about paying extra taxes on buildings built before 1975, so check this out as well.

Sorry I can't help you much more but we really don't do any business in Rio, this is just what I have picked up from half seriously looking at property down there.

Regards,
Rob.

[Lysos]

Russell,

You would be far better off asking your Brazilian friends than asking on here.