I’m considering purchasing a 3-bedroom apartment in Belo Horizonte. Where can I find information on the real estate market for this area? Moreover, can capital expenditures for the maintenance of rental properties be set against rental income in order to lessen the income tax bill?

Thank You

Unfortunatly, I do not know much about BH, nor am I aware of any valuable web or other RE resources for the area. There are a few foreigners that own real estate there and you might want to try your luck on www.brazzil.com Forum.


Now, the second part of the question I can address.

First of all, you can´t legally generate income in Brazil unless you have some type of a permanent visa. Most of the foreign landlords recieve their rent off the books.

If you have permanent residence in Brazil, this question is better addressed by a Brazilian Tax professional. The answer would depend on a lot of variables and conditions.

Regards,
Boris