Numerous factors are now highlighting Brazil as a top spot for fly to let investors according to property experts who specialise in the country.

Ruban Selvanayagam, writing for Brazzil.com, suggests that although some professionals are sceptical, several indications of a very bright future exist.

Selvanayagam points to a lowly leveraged debt market, improved inflation control, social housing programs, national credit rating upgrades and a rising middle class as reasons to be happy in the Brazilian property sector.

Bruno Franco, a Brazilian property expert with Banco Votorantim, reinforced this view when speaking to Brazilinvestmentguide.com, saying that growth in the country is an ‘encouraging sign’ for the market.

One example of the type of property available to fly to let investors is an exclusive development of apartments being marketed by Property Frontiers that offers guaranteed net returns of 6 percent.

Properties at the Edificio Dr Geraldo Furtado in the upmarket Petropolis district of the city of Natal – which is known in Brazil as ‘Cidade do Sol’ or ‘City of the Sun’ -
Can be purchased with an initial investment of £14,500.

Two thirds of the 86 apartments, built by award winning developer Grup Immobili, have already been sold but the remainder are still available at 20 percent below market price.

Property Frontiers say investors will benefit from:
• Instant Gain of 30 percent on completion
• 6 percent guaranteed net yield for first four years
• Price held at 20 percent below market value
• Initial investment as low as £14,420
• Previous Grup Immobiliari developments have doubled in value
Plus Brazilian tourism is also growing and Natal will soon have the largest airport in South America.

• A Cyprus property development company which is under investigation for several cases of alleged fraud including selling the same property twice has been named by police according to reports from the country’s media.

A story in the Cyprus Mail named the company as KM Famagusta Developers, which has had eight complaints filed against it since 2007 – seven in Famagusta and one in Larnaca.

Police spokesperson Lefki Solomontos said that after consultations with the Attorney-general it was judged necessary to publish the name of the company for the protection of the public.”

He added that the cases against KM Famagusta Developers mainly concern alleged forgery, obtaining money and property under false pretences and usurping property belonging to another person. Four of the cases are on their way to court, two are under investigation and two others will not be brought go to court on the instructions of the Attorney-general’s office.

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