Apartment for Sale in Bahia, Salvador(Guarajuba), Brazil

Solar Village

50sqm per apartment
Excellent Rental Investment Opportunity (some apartments already rented)
30 minutes Drive from Salvador International Airport
100 Metres to the nearest beach
2 Bedrooms (one with en-suite)
Main Bathroom
Kitchen with Utility Area
Sitting Area / Dining Room
Fully Furnished
Air Conditioned
24 Hour Security
Final Units are Ready and Built (and rented ready for the prospective buyers)
Direct Flights from the UK starting May 2006


Property and Area Overview



An excellent investment opportunity within a development of 24 x 2 bedroom apartments located 100 metres from a beautiful beach.



Onsite Faciliies include 2 swimming pools, relaxation area and Bar. Shops and restaurants are within 10 minutes walking distance of the development.



Guarajuba is just north of Salvador and is an established and affluent area, with luxury condominiums and excellent beaches. It lies between lakes and the ocean in an environmentally protected area. The Eco Resorts of Praia do Forte (Turtle Reserve) and Costa do Sauipe (Golf Course) are also with easy reach.



These properties are already completed. Due to the rental demand in this area, the developer has already rented out the remaining properties that are for sale. Thus you will be buying properties with guaranteed rental. The return of yield depends on the client currently renting, the average return is around BRL 6,000 per year (approx £1,450 based on 4.14 exchange)



Properties have seen an increase in price of some 40% over the last 18 months in this area.



Direct flights from the UK are due to start to this area in May 2006 and it is expected that the cost of them will be drastically reduced. Thompsons already operate cheap flights to Brazil which started in November 2005 and fly direct from the UK to Natal, the market is expecting the competition flights to Salvador to be drastically discounted too. This is a great sign that travel will be increasing to Brazil over the coming months / years.



Location



The development is in Guarajuba, only 30 kilometres from Salvador international airport.



The apartments are located in a condominium which is inside a large condominium with security access. The large condominium have now stated that NO more apartments can be built (just large luxury houses). We believe this will keep the prices of apartments high in this condo.



Only 10 minutes from the apartments is an area called 'Priar De Forte' which is an exceptionally quaint area visited by Europeans and Brazilians for small shopping but mostly for Bars and Resturants. (See pictures)



Specification



The property is being sold WITH furniture and it is included within the stated prices.



Kitchen 1 Refridgerator
1 Cooker
1 Washing Machine
1 Sixteen Piece Cockery Set ( 4 large plates, 4 small plates, 4 cups and saucers)
1 Sixteen Piece Cutlery Set ( 4 knives, 4 forks, 4 desert spoons, 4 tea spoons)
12 Glasses ( 4 wine, 4 tumblers, 4 Hi-ball)
1 Kitchen Utensil Set ( ladle, slotted spoon, potato masher, fish slice, tin opener, potato peeler)
5 Piece Cooking Set ( 4 saucepans, 1 frying pan)
Small Rubbish Bin
1 Brush
Place mat set
Kitchen towel
1 Wardrobe

Living Room 1 Two Seater Sofa
1 Coffee Table
1 Television
1 TV Stand
Curtains
1 Arm chair
1Ceiling Fan
1 Box
1 Picture

Dining Room 1 Dining Table
4 Chairs

2 Bathrooms 2 Mirrors
2 Soap dishes + 2 Toilet roll holder + 2 Towel rail
2 Toilet seat
2 Bin
2 Shower head
2 Towel sets
2 Shower cubicle

Bedroom 1 1 Double Bed with Mattress
1 Wardrobe
2 Pillows
4 Pillow cases + 4 double sheets
Curtains
1 Air Conditioner
Coat hangers
1 Picture
2 Small Tables

Bedroom 2 1 Single Bed with Mattress
1 Wardrobe
1 Pillows
2 Pillow Cases + 4 Single sheets
Curtains
1 Air Conditioner
Coat hangers
1 Picture
1 Small Table




Associated Costs



All quoted prices are inclusive of CPF tax numbers (an individual tax registration number required to buy a property), agent commission and contract drafting. The price does NOT include government purchase tax (appox. 5% of the purchase price) or legal assistance.



When buying a property it is important that you pay the appropriate council rates (usually around 1% of the property value per year) and condominium charges (if applicable), your home / investment is at risk if you do not keep up these payments.



(Please see the bottom of the page for approximate latest conversion rates to your currency).




Legal Assistance

We can help you with finding a lawyer who will act on your behalf. Approximate costs which will be around £550 ($1017). This is a special rate for clients who purchase a property from us. (Usual cost is £1000). The service will include: - Checking the current owners have the correct entitlement to the land, checking your contract and clearly advising what the obligations are for both parties, supporting you through the payment process and answering legal questions, ensuring land is registered in your name correctly at the end of the process.

Wherever you are in the world, our client lawyers can help you purchase your property.

If you would like more legal advice, please send an e-mail to help@

Property Commissions

Sales agent and processing fees are included within all property prices (unless otherwises stated on the individual property notes above under 'Associated Costs').

Foreigners Owning Land / Property

The Brazilian authorities encourage foreign investment, as such there are no requirements to establish complicated company formations. Brazilian real estate can be owned in your private name.

Visas / Passport

Travellers from most countries will receive an automatic visitors visa entry, this is granted for 90 days. It is possible to apply for an extension for a further 90 days at the local police station. Travellers from some countries are required to apply for a residency at their nearest Brazilian Embassy before travel. Please ask us if you require more information about Visas to Brazil.

Before travelling to Brazil you should have at least 6 months from the return date of your journey until your passport expires.

Flight Costs

Flight costs are dramaticaly reducing to Brazil. We have contacts that can help you book your flight. An example of a direct flight from London airports to some destinations of the northeast of Brazil are currently around £290 to £500 (return). Prices do fluctuate depending on the season / operator and destination airport.

Money Transfers to Brazil

It is imperative when buying property in Brazil that the funds are sent directly from your own bank to the sellers bank account in Brazil, this is sent via the Central Bank of Brazil who act as an official receipt of funds into the country. The seller has to present their contract to the bank to release the funds. This ensures the government have recorded your investment into the country. Please becareful of developers / sellers who do not use the official route.

Your bank will not be able to offer an exchange rate at the time of transfer as the money is crystallised when it reaches Brazil (approx 5 days transfer time). There will usually be a shortfall or overpayment, we will help you manage any transfers and liase with your banks to ensure that the process works smoothly.

Borrowing Money to Buy Property

It is not possible to borrow funds in Brazil to buy a property. Some new build off-plan developments may be offered by the developer with installment payments over a short period of time (Ie. 12 to 24 months). The charges applicable vary from developer to developer.

If you have property in your own country and would like to borrow against this, then we can introduce you to a financial lender who can help you raise finance accordingly. We are full subscribed to the Financial Service, Credit Consumer License and Data Protection Act.
* General Notes

This property is sold in Brazilian Reais (BRL). Any other prices quoted in other currencies may vary vary Currency rates will depend upon the Central Bank of Brazil's conversion rate at the time the funds are received in Brazil (approx 5 days after sent). As such all prices other than Brazilian Reais (BRL) will change (ie Euro, GBP & USD). Typically funds take 5 working days to be received by the Central Bank once they have been sent from your own bank account, it is at this point the conversion rate will be fixed. To check yesterdays closing price with the Central Bank of Brazil click here .

Every attempt has been made to ensure the information contained within our websites and offline documentation is accurate and up to date at the time of publication. Enclosed material is based on information which we consider reliable, but because it has been supplied by third parties, we cannot guarantee that it is accurate or complete. It is the buyers responsibility to ensure property details, taxation etc are correct before paying a deposit / purchasing.

We advise you to use a trusted client lawyer when purchasing who will ensure your interests are protected. We recommend that you use a Brazilian Lawyer who is registered with the OAB (Ordem Dos Advogados Do Brasil) which is the equivalent to the Bar in the UK. You would also have more protection if they are also registered with the society in your own country (I.e. UK Law Society).

The most important parts of the purchase process a lawyer will support you with is to check:

The land has good entitlement
Check the contract you are signing is protecting you and explain in detail the clauses
Ensure the title deeds are transferred into your name and correctly.
We always recommend a visit prior to purchasing property to familiarise yourself with the area and developments.

Please take a print of this page if required in normal A4 Portrait