Finding Your Special Penthouse Apartment In Rio De Janeiro's Ipanema and Copacabana Beaches
Tuesday, July 12, 2011
By Arturo Vasco
You have been to Rio de Janeiro, loved your vacation holiday, aiming to go back frequently so you are at this time thinking of acquiring real estate for both a good investment and a residence. Your plan can't be any greater since Rio's real estate has been on fire and in all probability will continue on through 2016.
For an individual not necessarily familiar to the area, the language or the customs, it is extremely recommended that you use a real estate property broker. It won't cost you anything because the seller pays the commission on the sale. In Brazil, property agents are part of a professional organization and need to be able to produce an identification card that contains their CRECI license number. Furthermore, it's highly recommended that you also employ a real-estate lawyer to authenticate the legal proprietor of the residence and that there are absolutely no outstanding liens.
To no surprise, obtaining a penthouse apartment in Rio de Janeiro's most prosperous divisions such as Leblon, Ipanema and Copacabana is going to be quite expensive. During the last 5 years, their worth have considerably appreciated. Typically, flats in these zones go for R$6,000 to R$10,000 (R$=Reais) per sq meter (M2). The larger of the rates belonging to apartments in the vicinity of the beaches. A 110 M2 unit which is around 1,200 sq ft can average R$880,000.
If you have 100% of the cash, there are deals to be uncovered. From auctions on foreclosed flats to apartments that are locked up because they are in the progression of being willed (inventario), you could negotiate reduced prices of as much as 25 to 30%. However most of these situations are few and they tend to have more bureaucracy. Though if you can uncover them, you can certainly find a fantastic penthouse bargain in Copacabana or Ipanema.
Should you prefer a mortgage, Brazil is a rather easy place to qualify. Firstly you will need a CPF number. This is the equivalent to a social security number in the US. You can obtain this at your local Brazilian consulate or at the post office in Brazil. 2nd, you should have a minimum down payment of 20%. The more you put down, the better as the interest rate in Brazil is 12%. The final aspect is a Brazilian banking account together with proof of earnings. The lender will usually need to see 6 months of deposits equaling your reported revenue. With all these ingredients in place, you are ready to buy your dream vacation residence in Rio de Janeiro.
For an individual not necessarily familiar to the area, the language or the customs, it is extremely recommended that you use a real estate property broker. It won't cost you anything because the seller pays the commission on the sale. In Brazil, property agents are part of a professional organization and need to be able to produce an identification card that contains their CRECI license number. Furthermore, it's highly recommended that you also employ a real-estate lawyer to authenticate the legal proprietor of the residence and that there are absolutely no outstanding liens.
To no surprise, obtaining a penthouse apartment in Rio de Janeiro's most prosperous divisions such as Leblon, Ipanema and Copacabana is going to be quite expensive. During the last 5 years, their worth have considerably appreciated. Typically, flats in these zones go for R$6,000 to R$10,000 (R$=Reais) per sq meter (M2). The larger of the rates belonging to apartments in the vicinity of the beaches. A 110 M2 unit which is around 1,200 sq ft can average R$880,000.
If you have 100% of the cash, there are deals to be uncovered. From auctions on foreclosed flats to apartments that are locked up because they are in the progression of being willed (inventario), you could negotiate reduced prices of as much as 25 to 30%. However most of these situations are few and they tend to have more bureaucracy. Though if you can uncover them, you can certainly find a fantastic penthouse bargain in Copacabana or Ipanema.
Should you prefer a mortgage, Brazil is a rather easy place to qualify. Firstly you will need a CPF number. This is the equivalent to a social security number in the US. You can obtain this at your local Brazilian consulate or at the post office in Brazil. 2nd, you should have a minimum down payment of 20%. The more you put down, the better as the interest rate in Brazil is 12%. The final aspect is a Brazilian banking account together with proof of earnings. The lender will usually need to see 6 months of deposits equaling your reported revenue. With all these ingredients in place, you are ready to buy your dream vacation residence in Rio de Janeiro.
About the Author:
Rio Condominiums highlights wonderful apartments for rent in rio de janeiro. Call them today for a list of apartments for sale in ipanema.
Posted byBertie at 1:02 AM
0 comments:
Subscribe to:
Post Comments (Atom)