Brazilian property has offered exceptional value to US buyers purchasing in dollars over the last few years, and a recent survey by Insider confirms its potential. The report picked 13 countries that ticked the boxes for affordable homes and quality lifestyles for US citizens considering moving abroad to work. Brazil was one of them.
The recent boom in the work-from-home trend has led thousands of US expats to reassess where they work from. As a result, many are considering moving outside the US altogether. With this in mind, Insider examined 57 countries for housing prices and cost of living to obtain the best options for US expats.
Brazilian property strong candidate
Brazil ranked in the ninth position (together with Indonesia) as one of the “sweet spots” for US expats. Insider reported that the country ranks high for “leisure options, local friendliness and ease of settling in”. In addition, US remote workers qualify for a digital nomad visa.
Brazilian property is also a major motivator, with the average cost of a 2-bedroom flat coming in at just over US$96,000. The combination of the costs of living and real estate brings Brazil’s house-price-to-income ratio to 84.141.
Strong real estate market
In terms of the real estate market in Brazil, Insider quotes one of BRIC Group’s article on the situation. It reports that sales of high-end property in Brazil increased by 109% in the first quarter of this year.
Visa options
Property purchases may also qualify for a Brazilian investor’s visa, which provides permanent residency as well as the option for citizenship. A minimum investment amount applies, for example, at least R$700,000 in Northeast Brazil, the equivalent of approximately US$133,300 at the current exchange rate.
Ireland top of the table
The survey ranked other Latin American countries besides Brazil such as Peru. However, Ireland took the prime position at the top of the table. Insider highlighted the Emerald Isle’s wildlife and natural beauty.
In addition, Ireland ranked the highest of all 57 countries across the board. Its house price-to-income ratio stood at 93.853, considerably higher than Brazil and the average price of a 2-bedroom flat in Ireland is almost US$238,000, nearly 2.5 times more expensive than Brazilian property.
(Source: Insider)
