House Cost in Brazil? It’s crazy how the real-estate market changes drastically depending on where you are. Sometimes the same amount of money that buys nothing where you live can literally afford a mansion in a different city (or country), maybe even Brazil.
On average, a house in Brazil costs 1420,68 USD per m² for high-end properties and 604,55 USD per m² for a standard property in less noble locations. It means a standard apartment with 753 ft² would cost about 42318 USD and the cost for a high-end apartment of the same size would be around 99447 USD.
To understand better the average costs per property in Brazil, let’s dig deeper into the data of our research to see how did we get to these numbers.
How Much Does a House Cost in Brazil?
Brazil is a gigantic country (fifth-largest on earth) with continental dimensions and a lot of social differences depending on the region that you are in. So every time we do research involving prices or costs of a comfortable life we need to look into the bigger picture, comparing cities from all regions of the country. That’s the only way to find a trustable number.
The average cost per m² in Brazilian capitals is 1420,68 USD for high-end properties and 604,55 USD per m² for standard ones. In smaller cities, the prices can be about 5 to 8% lower. It means a standard apartment with 753 ft² in Brazil would cost 42318 USD in capital and around 40000 USD in a smaller city.
To have a better idea of how much does a house cost in Brazil we organized the data showing both values of standard and high-end properties converted to square feet sizes.
| Property Size (m²) | Property Size(ft²) | Standard Property | High-end Property |
| 70 | 750 | 42318,50 USD | 99447,60 USD |
| 140 | 1500 | 84637,00 USD | 198895,20 USD |
| 280 | 3000 | 169274,00 USD | 397790,40 USD |
Average House Prices in Brazil
In this section, you’ll be able to check the average price in Brazil and also a city by city of the list of the Brazilian capitals, for both high-end and standard properties.
The most expensive square feet in Brazil are in the cities of Rio de Janeiro (with a square meter price of 1790 USD for high-end and 852 USD for standard properties) and São Paulo (with a square meter cost of 1770 USD for high-end properties and 823 USD for standard ones). This is expected, considering that these cities are 2 of the most important for the country. You can check the square feet prices of other important Brazilian capitals in the following table.
Considering the main capitals of the country, the lowest prices per square feer are found in the cities of Campo Grande and Goiânia. In Campo Grande, the average price is around 830 USD per m² in high-end properties and 415 USD in standard properties. In Goiânia, the prices are respectively 850,66 USD and 425,33 USD.
| City | Average Price (High-end Properties) | Average Price (Standard Properties) |
| Country Average | 1420,68 USD / 7487,00 BRL | 604,55 USD / 3185,96 BRL |
| São Paulo | 1770,21 USD / 9329,00 BRL | 823,35 USD / 4339,07 BRL |
| Rio de Janeiro | 1790,70 USD / 9437,00 BRL | 852,72 USD / 4493,81 BRL |
| Belo Horizonte | 1310,82 USD / 6908,00 BRL | 582,58 USD / 3070,22 BRL |
| Brasília | 1515,18 USD / 7985,00 BRL | 704,74 USD / 3713,95 BRL |
| Salvador | 988,61 USD / 5210,00 BRL | 459,82 USD / 2423,26 BRL |
| Fortaleza | 1128,65 USD / 5948,00 BRL | 524,9 USD / 2766,51 BRL |
| Recife | 1178,75 USD / 6212,00 BRL | 548,25 USD / 2889,30 BRL |
| Porto Alegre | 1147,25 USD / 6046,00 BRL | 533,60 USD / 2812,09 BRL |
| Curitiba | 1233,02 USD / 6498,00 BRL | 573,50 USD / 3022,33 BRL |
| Florianópolis | 1407,78 USD / 7419,00 BRL | 634,14 USD / 3341,89 BRL |
| Vitória | 1348,96 USD / 7109,00 BRL | 607,64 USD / 3202,25 BRL |
| Goiânia | 850,66 USD / 4483,00 BRL | 425,33 USD / 2241,50 BRL |
| João Pessoa | 856,74 USD / 4515,00 BRL | 428,37 USD / 2257,50 BRL |
| Campo Grande | 830,36 USD / 4376,00 BRL | 415,18 USD / 2188,00 BRL |
| Maceió | 985,77 USD / 5195,00 BRL | 492,88 USD / 2597,50 BRL |
| Manaus | 957,69 USD / 5047,00 BRL | 478,84 USD / 2523,50 BRL |
It’s good to notice that this research considers simple yet comfortable houses and apartments out of luxury neighborhoods by the standard.
Average values and price tables help to understand a little more about the real estate market in Brazil, but to further deepen this understanding, I prepared a visual comparison between which apartment standard that $100,000 buys in Brazil and the United States.
$100,000 Apartment in Orlando, Florida
Let’s start with $100,000 in the United States. The following property is listed on Zillow, in the city of Kissimmee, Florida, for about $99,500.
- Year built: 2008
- 1067 sqft
- 2 bedrooms
- 2 bathrooms
$100,000 Apartment in Curitiba, Brazil
Looking at the table of prices, you’ll see that about $100,000 buys you a high-end small apartment in Brazil. Considering the current trading rates between BRL and USD, the following apartment is listed in ImovelWeb, for about $96,700 in the city of Curitiba, Brazil.
- Year built: 2009
- 1109 sqft
- 2 bedrooms
- 2 bathrooms
This comparison of similar properties in Brazil and the US to better understand the differences in the real estate market of both countries.
What Based These Numbers?
This data was based on the FipeZap Index of Advertised Property Prices, developed by the Economic Research Institute Foundation (Fipe) and by the ZAP Group. The indicator tracks the variation in the average value of the square meter of finished houses and apartments, especially in Brazilian capitals, based on advertisements on the internet.
But to really find a reliable number of the average property price in Brazil, we extended the survey to evaluate the average property price not only in capitals and high-end properties but also in smaller cities and common properties.
Can I Buy A House in Brazil?
It’s common to find people who do not live in Brazil and are interested in buying real estate in the country, either to have a vacation home in a paradisiacal place or as an investment.
As a general rule, any foreigner can buy a house in Brazil, as long as they have an individual taxpayer registration, known as CPF. To achieve this a foreigner needs a passport, original birth certificate translated to Portuguese and authenticated by the Brazilian consulate in the country of origin.
The CPF (similar to the Social Security Number in the United States ) is mandatory for anyone interested in buying a home in Brazil. To get your taxpayer ID, the person from another country needs some documents, which are:
- Passport or National Registration of Foreigners (RNE);
- Original Birth Certificate (Accompanied by a translation into Portuguese, made by a sworn translator, and authenticated by the Brazilian consulate in the country of origin);
- If married, the buyer must also present the documents of the wife or husband;
Investing in Brazil can be a great option, especially for people with income in a strong currency, such as Euro, Dollar, or British Pound. As the Brazilian currency is currently undervalued, It’s a good moment for buying properties in Brazil paying less money than you expect.
Can I Finance A House in Brazil?
Despite being a developing country, the Brazilian real estate market is well consolidated, especially in tourist destinations. That’s why now is a great time to buy real estate in Brazil, as the country’s currency is devalued in a market with a lot of potentials.
Still, not every foreigner has all the money to buy a property in Brazil in cash, so many have doubts about financing homes in the country.
As a general rule, a foreigner cannot acquire property in Brazil via financing unless he has a definitive registry or is naturalized. This is not a legal requirement but happens because having a bank account in the country is only allowed to permanent residents or temporary visa holders for more than 12 months.
To better understand this situation, we need to dig a little deeper. So explaining again: It’s not that people that live in a different country are not legally allowed to finance a property in Brazil, but as there are limitations for those who can open a bank account over here, it’s gonna be impossible for some people to finance a property through a Brazilian bank (which is the common here).
Brazilian Mortgages and Home Loans
Financing a property in Brazil using a mortgage or a home loan can be hard for foreigners, considering that opening a bank account in Brazil is allowed to the following group of people from different nationality:
- Permanent Visa Holders;
- Temporary Visa Holders (for at least 12 months);
- People Licensed to Work in Brazil (Work Permit Holders);
Foreigners may face another problem with banks. Brazilian banks have the autonomy to deny deposits made by foreigners, provided that for justified reasons, this can sometimes block the acquisition of a property.
A good way to solve this problem is to make a proxy (power of attorney) to a trustable Brazilian that you know, using a public notary’s instrument, granting powers to buy, sign a deed, and private contracts. The power of attorney must be legalized at the Brazilian consulate of the foreigner’s country of origin.
Can Americans Buy Property in Brazil?
As the Brazilian real estate market was affected by the pandemic and with the current trading rates (1 BRL costing about 0.18 USD), investing in properties in Brazil can be a good option for American citizens.
Americans can legally acquire real estate in Brazil, as long as they have an Individual Taxpayer ID, known as CPF (a document similar to the SSN in the US). To get this an American citizen needs a passport, a birth certificate in Portuguese, and authenticated by a Brazilian consulate in the US.
The Brazilian Taxpayer ID, known as CPF, is the only mandatory document that an American need to buy a house in Brazil (if paying in cash, for financing the rule are different). To get your Taxpayer ID, an American citizen needs the following documents:
- Passport or National Registration of Foreigners (RNE);
- Original Birth Certificate (Accompanied by a translation into Portuguese, made by a sworn translator, and authenticated by the Brazilian consulate in the United States);
- If married, the buyer must also present the documents of the wife or husband;
Real Estate Grants You a Resident Permit
Since the end of November 2018, foreigners who buy a property in the country have the right to request a residence permit, a great alternative very similar to the so-called “gold visa” that exists to facilitate the process of moving to other countries, such as Portugal.
In Brazil, the minimum investment to be granted a Resident Permit in finished or under construction properties is divided by regions.
Whoever chooses the states of the North and Northeast regions will have to invest at least R$ 700000 (about 135000 USD), while in the other regions the value will have to be at least R$ 1 million (about 188000 USD). This rule is valid for both residential and commercial properties, but only for urban properties, without including rural properties.
For immigrants to be granted a two-year provisional authorization, investment in real estate must be validated by a national bank. The term established as provisional serves to ensure that the property is being preserved and remains with the same owner. After that, the authorization becomes permanent.
Conclusion
Guys, this type of research takes a lot of time and effort to do. For this research, I’ve used the index from FipeZap, Real Estate data from Viva Real, and properties listed on Zillow and ImovelWeb. So shoutout to everyone:
https://fipezap.zapimoveis.com.br/
https://vivareal.com.br/
https://www.imovelweb.com.br/
https://www.zillow.com/
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