You are planning to buy a real estate property in Rio de Janeiro. There are great apartments and penthouses here, which at the current (2022) weak Brazilian Real are very cheap for foreigners and should be a good investment in the next few years due to the weak currency alone.
Best first: “Real estates in municipal territories, such as lots of land, factory sites, apartments and houses can be acquired without restrictions by individuals non resident in Brazil.” Quote from the website of the German-Brazilian Chamber of Industry and Commerce.
Real estate property search
However, the real estate property market in Rio de Janeiro is quite different than in the USA or Europe.
On most Brazilian websites, almost all properties are described as ready to move into “pronto para morar” or even beautiful. When viewing these real estate properties, even a non-expert notices that they need major renovation. Even worse are real estate, which were renovated specifically for sale cheaply. These properties often have many hidden flaws under the surface, such a renovation is called a make-up (maquiagem).
Renovation or ready to move in property
Therefore should decide whether you have the courage and time to do a major renovation yourself, or whether you want to buy a ready-made property.
Such well renovated flats or penthouses are not easy to find and they are rightly much more expensive than properties in need of renovation. Simply because there are few such properties and a good renovation requires a lot of time, experience and energy.
Checking the documents and real estate registration
Properties with problems in the documents are common. In difficult cases it can take months, years or even be unsolvable to regulate these problems. So caution is important. Let a professional you can trust help you find and buy your apartment or penthouse.
How can we help
We are concerned that your real estate property acquisition in Rio de Janeiro results in a positive experience:
Detailed descriptions of properties allow a good first selection. Prior to an inspection we can provide additional high resolution pictures or video walks through the flat. Thus, you can avoid needless visits. And finally we are very experienced in all necessary steps and know how we or our partners can resolve a problem.
We will be happy to help you with the search, the examination of the documents and the subsequent transaction, of course also in cooperation with an experienced lawyer.