A couple who bought property in Brazil after holidaying in the country have seen the value of their investment almost double.
Susan and Matt Marshall paid $360,000 (£260,000) plus $55,000 in taxes and fees for their waterfront house in Ferradura and spent $2 million on refurbishments, the New York Times reports.
They are now receiving offers between $3 and $4 million from local estate agents for their home, but cannot be induced to sell after realising their dream of owning a property in Brazil.
"When I came through the front door here, the view was just breathtaking," Mrs Marshall tells the newspaper, referring to her 630 square-metre house, which also boasts a Jacuzzi, small pool and waterfall.
The Marshalls turned the property into a guest house which has five ensuite bedrooms, an open-plan living room, kitchen, office and self-contained two-bedroom apartment for their housekeepers.
Last week, a study by Halifax found that Brazil is one of the most affordable holiday destinations for British people.
Click on the image to find out more. [14.09.2007]Cabo Negro Golf - nr Tetouan Morocco
Fantastic pre-release offers on the is stunning development on one of Morocco's most unspoilt coastal areas. Fast becoming the most sought after area for property owners, Cabo Negro is the home of the region’s oldest golf course, the “Royal Cabo Negro”. O ften frequented by the Moroccan royal family, including the King’s brother and Aunt.... [22.08.2007]Time to invest abroad? Record number of people leave UK
According to the BBC website today (Wednesday 22nd August) more people left the UK last than in any year since the current records began. 196,000 British citizens left the country with Australia being the most popular destination but Spain and France not far behind.
Morocco is gearing up to be a top Mediterranean destination within three years with the launch of Vision 2010.The King of Morocco himself is spearheading a drive to increase tourist visitors to 10million per year by the end of this decade. This will increase the potential rental income and boosting property capital throughout the country.
Although you will find many agents selling Moroccan Property in reality it is still a relatively quiet market on the international property stage. This is a good thing however....
Porto Dos Corais, Natal, Brazil
[11 October 2007]
Brazil Property is in our opinion one of the best investments available. Tourism is a new industry in Brazil, increasing by 30 per cent in the last year alone, and the property market is hot on its heels. However despite being rather new on the international property-buying radar, this South American country seems to be ticking all of the right boxes for investors, holiday home owners and Retirees alike. The Porto Dos Corais development will astound you with the diverse landscape, rich culture, idyllic climate and true affordability (the cost of living in Brazil is just 20 per cent of the UK) this is why British buyers have started flocking here.
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