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....
Major Brazilian oil discovery excellent news for property investment
[16 November 2007]
Petrobras, the state-owned oil company within Brazil has announced a major new discovery of between five and 8 billion barrels of oil. The discovery is of light crude which is less expensive to refine and consequently its value is higher. The total size of the discovery puts Brazil in the same league as Saudi Arabia.
Petrobras's chief executive is not currently speculating about how big an oil power Brazil could become, however he does say that there is potential for more discoveries on the scale of this one, which is itself the world's second-biggest oil find in the last two decades.
The knock-on effects for Brazil's economy are likely to be dramatic. Already self-sufficient in oil (and the world's leading user of bio ethanol) Brazil is likely to become a significant exporter. Britain's BG Group has a 25% stake in the Tupi field.
With this background and the ever-growing Brazilian economy it makes foreign property investments in Brazil look even more attractive.
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