“DON’T BUY IN BRAZIL” says AIPP Award-winning agent specialising in Brazil
Brazil specialist agent SPC Overseas has won the coveted AIPP award for Best Small Agent 2011 by warning potential clients not to buy property in the South American country.
Anthony Fernandes, director of SPC Overseas says: “Brazil Buyers Beware! There are a huge number of projects springing up in Brazil and many simply “don’t make the investment grade”.
Investors can once again hold confidence in the Brazilian land market as the President of the ADIT (Association for Real Estate and Tourism Development in the north east of Brazil) has dismissed worries over proposed new restrictions on foreign nationals owning land.
Concerns over protection of Brazil’s natural resources led to President Lula da Silva reportedly calling upon ministers to tighten the laws on foreign ownership of land however ADIT President, Felipe Cavalcante, speaking with trade publication, OPP, commented that “these proposals only apply to agricultural land – any changes in the future would have no impact at all on people who have already invested in real estate.”