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Brazil’s New Land-Buying Restrictions Shouldn’t Affect Potential Holiday Homeowners - 4 August 2010

Despite media reports about possible ownership restrictions for overseas buyers in Brazil, the country isn’t trying to hinder tourism or foreign investment, according to officials.

The Brazilian government is instead looking into developing laws to protect agricultural land and natural resources, which would therefore, keep food production within the country. It has been noted that these plans will not affect those interested in residential or beachfront land—which is usually the preference of holidaymakers—and any buying restrictions will be based on the potential harm to the country’s agriculture sector.

In an attempt to further promote the tourism potential of Brazil, the Association for Real Estate and Tourism Development (ADIT Brasil) recently expanded its operations to cover all 27 states in the country, not just the nine located in the Northeast region.

The nonprofit organization, comprised of local businessmen, aims to raise funds for tourism and real estate investment in Brazil. Their main efforts include producing international investment events and projects that bring in investors, hotel chains, realtors and members of the media to help promote the country.

On August 5, ADIT Brasil will hold its first members meeting since the incorporation of the additional 18 states. Topics will include: Brazil’s potential for real estate and tourism, changes in environmental legislation, international investment expectations for Brazil, and how to attract resources for investment funds.

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