Introduction
Fortaleza in northeast Brazil is a city famous for its small size, laid-back lifestyle and comfortable year-round sunny climate. Brazilians are flocking to the city for a better quality of life and the demand for superior housing from the country’s growing middle class is on the increase.
Although Fortaleza is one of the safest cities in Brazil our spacious 2-bed, 2-bath apartments are located within a large gated community packed with amenities and guarded by 24-hour security.
We have secured a massive off plan discount to market value of 37%, meaning that these great apartments are available from just €74,655. We have also negotiated a staged payment scheme allowing our investment property purchasers to spread their payments over the next two years, making this slice of paradise affordable to all.
Strong buyer protection
The property market in Brazil is very cash-orientated, and historically almost everyone paid for their property with large cash purchases. Therefore to minimise risk and offer protection from unscrupulous developers, laws have been passed over a number of years to safeguard investors’ money. This has made the Brazilian property credit system one of the safest in the world.
It has a unique legal system to protect investors, making it an incredibly safe place to buy property. Its system makes developers more accountable, and gives investors a strong say in the development’s progress, through the use of Special Purpose Funds, or escrows.
Investor power
As soon as the developer registers his plans with the land registrar, the ownership of the development shifts to the investors. Should the developer not keep to his plans, even down to the selection of the bathroom suite, the investors have the right to remove the company from working on the development and replace them with one more acceptable. The investor group must secure 25% agreement among themselves to undertake this measure.