Market Insights

Read the market before you decide

This section is not about adding noise. It organises the signals that matter on pricing, liquidity, legal risk and decision timing.

When the picture is clearer, investors can tell a genuine opportunity from an empty sales narrative.

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Readings that matter

Resilience

The premium market responds to quality, not volume

Well-positioned assets with a clear thesis tend to keep their traction even in more selective markets.

Liquidity

Fair pricing and ready paperwork still shorten the cycle

Liquidity at the top end is not just about location. It depends heavily on the operational friction of the asset.

Timing

Good decisions happen when context and asset align

Reading the right moment matters as much as finding the right property.

Decision checklist

Four questions before you move forward

A simple framework to reduce risk and gain clarity before committing energy to an offer, due diligence or a viewing.

01. Comparables

Does the price hold up against equivalent assets?

Without a comparable reading, a perceived discount or opportunity may be nothing more than narrative.

02. Liquidity

Is there credible demand for this type of product?

Local liquidity and the depth of the buyer pool need to enter the analysis early.

03. Legal

Does the asset minimise documentary friction?

Title registry, certificates and any encumbrances must be clear before any significant step.

04. Exit

Is there an income, resale or repositioning thesis?

An exit plan helps protect capital and prevents decisions driven by impulse alone.

Brazilians in Europe

How to invest in Europe

A roadmap for Brazilian investors and brokers considering property in Portugal, Spain, France and Italy — from choosing the market to reporting back in Brazil.

01. Market

Choose the country for the thesis, not the postcard

Portugal (Lisbon, Porto, the Algarve) offers a shared language and a large Brazilian community; Spain (Madrid, Barcelona, Valencia, Costa del Sol), France (Paris, Côte d’Azur) and Italy (Milan, Tuscany, the lakes) each have their own dynamics. Weigh liquidity and the balance between rental yield and capital appreciation.

02. Tax ID

Tax number and a local bank account

Each country requires its own tax ID: the NIF in Portugal, the NIE in Spain, the codice fiscale in Italy. It unlocks a local bank account; mortgages for non-residents typically cover 50% to 70% of the property value.

03. Costs

Acquisition costs beyond the price

Portugal levies IMT and stamp duty (Imposto do Selo); Spain, ITP on resales or VAT (IVA) on new builds; in France, frais de notaire run at around 7–8% on resales; in Italy, the imposta di registro applies. Add notary, registry and an independent lawyer for due diligence — costs vary by country and region, so confirm current rates.

04. Residency

Visas: rules that change often

Portugal closed the real estate route of its Golden Visa in October 2023, and Spain ended its Golden Visa in April 2025. Greece still offers a real estate golden visa, with higher thresholds since 2024 (from €250,000 in specific cases up to €800,000 in prime areas); in Portugal, the D7 (passive income) and digital nomad visas remain options. Check with a local lawyer before deciding.

05. Brazil

Transfers and reporting on the Brazilian side

Brazilian residents send funds through a bank or authorised FX broker, with IOF tax on the exchange operation — check the current rate. The property is declared in the IRPF income tax return (assets and rights) at acquisition cost in reais, and a DCBE filing with the Central Bank is required when foreign assets total US$ 1 million or more on 31 December. Capital gains on sale are taxed at 15% to 22.5%, with credit for tax paid abroad where applicable; foreign income follows Receita Federal rules.

06. Treaties

Double taxation treaties

Brazil has tax treaties with Portugal, Spain, France and Italy, among other countries, which help prevent the same income from being taxed twice. Note: the treaty with Germany was terminated in 2005.

For information only; this is not legal or tax advice. Rules change frequently — always consult a lawyer or accountant licensed in the relevant country.

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Europeans in Brazil

How Europeans can invest in Brazil

The path for European investors and brokers looking to acquire high-end property in Brazil with legal and currency certainty.

01. Ownership

Foreigners can freely buy urban property

There are no restrictions on urban property. Limits apply to rural land (Law 5,709/1971), the 150 km border strip and certain coastal “terrenos de marinha” (navy land), which carry ground rent and transfer fees (foro and laudêmio).

02. CPF

A CPF and a local attorney-in-fact

The CPF, Brazil’s individual tax ID, is mandatory and can be requested at a Brazilian consulate or through the Receita Federal. For non-residents, a Brazilian attorney-in-fact (procurador) is recommended — and often required — to sign and act on the buyer’s behalf.

03. Capital

Foreign exchange and Central Bank registration

Funds come in through an authorised bank under a foreign exchange contract. The foreign direct investment must be registered with the Central Bank (SCE-IED), which is key to repatriating capital and profits later on.

04. Purchase

Due diligence, deed and registration

Review the matrícula (property registry record) and clearance certificates; the public deed is executed at a Tabelionato de Notas (notary) and registered at the Cartório de Registro de Imóveis (land registry). Budget for ITBI, the municipal transfer tax, typically 2% to 3%, plus notary and registry fees.

05. Taxes

Taxation for non-residents

Rental income is subject to 15% withholding tax (25% if the owner is in a tax-haven jurisdiction); capital gains on sale range from 15% to 22.5%; and IPTU, the municipal property tax, is charged annually. Treaties with Portugal, Spain, France and Italy help avoid double taxation.

06. Residency

Residency through real estate investment

Brazil grants residence to foreigners who invest in real estate (CNIg Normative Resolution No. 36/2018): from R$ 1,000,000, or R$ 700,000 in the North and Northeast regions.

Currency reference

At Prime Match Imo, prices for European and English-speaking visitors are shown converted at a fixed reference rate of 1 € = 1 US$ = R$ 6. The deed is always executed in Brazilian reais.