Recife, Brazil real estate

#643shadle - Recife Brazil oceanfront condo
Price: $71,000.00 US

Beautiful oceanfront condo is located only 30 minutes south of the city of Recife, the wonderfully tropical capital city of the northeast Brazilian state of Pernambuco.  Only 30 minutes from the international airport makes for quick and easy access from Europe or North America.  Completed in May of 2006 this condo is an excellent investment/vacation spot that will continue to appreciate well into the future. 

Enseado dos Corais means "Corals Cove".  The beach is protected by reefs, with natural pools formed at the doorstep of the condos.  The beach, located directly in front of the condos, is a long white sandy beach, flanked by palm trees and clear waters with a stable summer like climate the whole year round.  The beach town is surrounded by natural forests and by mangrove vegetation that outlines the riverbanks and forms a veritable maze of canals where you can enjoy pleasant ecological hikes while discovering the marvels of regional flora and fauna. 

There are restaurants, bars & small hotels (pousadas) and the world famous Blue Tree Park resort in the local area.  Approximately 1.5 miles from the project is a large park. 

Features - Amenities:

• Swimming Pool & Jacuzzi
• Fitness Center & Sauna
• Laundry Room
• Party/Clubhouse for the enjoyment of owners and their guests
• Outdoor entertainment area complete with BBQ grills

Apartment details:

• Direct unobstructed beach & ocean views
• 1 bedroom / 1 bathroom
• Private balcony offering exceptional ocean views
• American kitchens, granite counter tops & many upgraded features
• Property and Rental management services are available.
• Monthly condominium fee of only $100 and annual property taxes of approximately $250 per year.

See the map to the right (click to enlarge) that lists all the beaches along this area of the coastline. Enseado Dos Corais is where the condo is located and has a red box around it. These beaches are all close to one another and many offer a wide diversity of atmosphere.  South of this area you can see Porto De Galinhas, which several Brazilian magazines have elected as the most beautiful beach in Brazil.

The smaller map to the right (click to enlarge) shows where the airport is located relative to the condo.  Currently the airport is about 30 minutes from the condo because the road veers inland and then comes back.  You can see on the map where a new bridge and road are currently being constructed which will run right along the beach.  This will make it a straight shot to the airport and the popular Boa Viagem beach.  This road will also make for a nice scenic ride along the ocean!

	Click on any photo for larger view

Yes, foreigners are permitted to own property outright in Brazil. Also, foreigners have the same property rights as Brazilians and will obtain a free & clear title to the property. It is no different than owning real estate in Europe or the US. Brazil is quickly becoming the world-leader in attracting foreign investment and immigration. There are literally millions of foreign nationals in Brazil who own property and businesses.
   
All you will need to buy property is a CPF number (tax registration number similar to an SSN in the US) which you can apply for via the Brazilian embassy in your home country or here in Brazil. This number is required in order to legally identify you for title purposes. The CPF is an important document required for anybody, Brazilian or non-Brazilians, who wishes to buy real state or open bank accounts in Brazil. We will be glad to assist you in obtaining your CPF.  Getting a CPF number is easy and I can assist with that.

How long can I stay in Brazil on a tourist visa?

You can stay in Brazil for 90 days on a tourist visa. However, this can be extented locally in Brazil for another 90 days totaling to 180 days per calendar year.

How do I get permanent residence in Brazil?

There are two principle ways of obtaining permanent residence in Brazil (besides marriage):

     1) A retiree visa if you are over 50 years of age and can provide at least $2000 per month in income.

     2) An investment of $50,000 or more into an existing or new Brazilian company. 

Do you offer financing?

It's difficult to find banking institutions that will finance a mortgage outside of the United States.  The US is still very myopic when it comes to foreign affairs.  Following are what I've found to be good means of financing.

Refinance your home and roll the new loan amount in:  Depending on how much equity you have in your home you could possibly even keep your payment amount at or near what

1. you're paying now and have two properties.
2. Get a 2nd mortgage:  This is essentially borrowing money against the equity in your home.  What I like about a second mortgages is the ones I've researched are simple interest loans so you're not paying all the interest up front like a normal mortgage.
3. Use your IRA:  You can move funds from an existing IRA into an independently directed IRA.  Then you invest those funds in the property.  This is easy to do and I can assist you in getting it setup.

I'm willing to consider taking 50% down and the balance being paid over 12 equal monthly payments. 

Is it furnished?

No, however the company I worked with that built the project has put together a furniture package for these units for about $5000 that I can assist you in getting if interested.

Is Title Insurance available?

Yes, First American Title Insurance Company offers title insurance.  At least one other individual in the project has acquired title insurance on a unit.  I can assist you in this process if needed.