One of the best combinations for a buy to let property would be below market value property, strong rental yield driven by tenant demand, an area of high employment with good prospects for long term capital growth and a typical landlord’s insurance policy to give added protection.

Most would agree that this package of factors would reliably lead to strong investment returns. But to find all of these factors in place is rare.

Not if you know where to look, claims Dan Johnson, director of international investment specialist E-Quity. He says they are all available in the emerging market of Brazil.

He said: “To complement our tourism-related opportunities in the North East, we wanted to find a traditional buy to let project that would be driven by some of the domestic economic factors that make Brazil such an attractive destination for investors right now.

“Sao Paolo and Rio are the obvious choices, but the cities are so vast that without spending a large amount of time there, it’s difficult to pick out areas with market-beating potential.

“When we were contacted asking us to look at a project in Joinville, it wasn’t somewhere we had heard of and it’s probably not somewhere with which the majority of our investors are familiar. But our team did its homework and we were pleasantly surprised by what we found.

“This is a city with a buoyant jobs market, high levels of affluence, low crime and an expanding population. It’s clean, peaceful and with huge amounts of investment planned for the next four years, it’s going to be a great place to invest for the foreseeable future.”

E-Quity are offering 2 and 3 bedroom apartments in Joinville for a little over £350 per m2, equating to £39,600 for a large 3 bedroom apartment. Other apartments in a variety of similar districts in Joinville sell for as much as £640 per m2, with the average being well over £500 at current exchange rates.

Investors, says E-Quity, can conservatively expect rental yields of 7 percent or higher, and though many local agents advise that rental yields tend to be one percent per month, 7 percent seems to be a sensible level on which to base expectations.

Running costs for this kind of property are low in Brazil, with the British-run company taking 10 percent for lettings and management.

Tenancies are covered by the Porto Seguro insurance company who vet all tenants and then provide protection against damage and non-payment of rent.

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