Private islands for sale in South America: Brazil, Chile, Columbia, Argentina
South America is a huge continent, a true cradle of ancient cultures, traditions and customs discovered by great European seamen. In spite of ages of colonization, a lot of indigenous inhabitants kept their traditional lifestyle. Those assimilated turned out a wonderful mixture of Indian and European cultures. Currently, countries of South America greatly differ in economic and political conditions. In this article, we will talk about private islands for sale in South America and consider the real estate market of some countries.
Details of the real estate market of South America
Nowadays, South America offers not only tourist and cultural attractions but also advantageous conditions for real estate buyers. At that, there are also beneficial conditions for investors in search of great deals and expatriates looking for affordable dwellings and calm life. Generally speaking, private islands for sale in South America are characterized by the following features:
- relatively low cost of real estate purchase;
- simple real estate purchase procedure;
- protecting foreign buyers in the same way as citizens;
- high demand for lease and recreation;
- affordable cost of living;
- mild climate.
However, one should also keep in mind significant drawbacks still inherent to the South American real estate market. They include political unrest, bureaucracy, widespread corruption, shadow trade, and underdeveloped ownership right registration system. It generally acts as a negative factor inhibiting the growth of the real estate market in South America.
Thankfully, elite real estate domain which includes islands for sale is well-developed in certain regions, and one can buy land on beneficial terms.
Islands for Sale in Brazil
Brazil is the largest South American country taking almost a half of its general area. It is also one of the most economically prospective countries on the continent. In Brazil, there is landscape diversity, ideal climate, prominent culture, and one of the best conditions for investment in the region. You will be offered a lot of private isles for sale for a range of prices. They come in abundance in Bahia and near Rio de Janeiro. You can find out more about the purchase of a private island in Brazil here.
Islands for sale in Chile
Chile is another great region offering real estate, specifically islands for sale. Island maintenance cost can be relatively lower as there is no capital gains tax. In addition, in terms of sales conditions foreigners are almost equal to local residents. Due to the global pandemic, real estate prices dropped throughout the country. The national market is currently recovering. However, the cost of islands stay stable. You can buy a private island for a price starting from USD 300,000–600,000. In most cases, you will have to pay USD 3,000,000 to USD 4,000,000. Click to find out more about private islands in Chile.
Islands for sale and rent in Columbia
Recreational lease in the country is on the rise. The government is aware of the value of foreign investment, so the purchase procedure is simplified, and real estate prices are quite affordable. There are no so many islands for sale in Columbia, yet attractive offers of private islands for rent come in abundance.
Islands for sale in Argentina
Argentina is a rather affordable real estate market for foreign investors. Foreigners can buy real estate as a freehold. Importantly, there is no capital gains tax for individuals who are not residents. One can purchase a house, farm, vineyard, or island for US dollars. Construction cost is also relatively low, but keep in mind that on an island, you will have to pay up.
Island purchase conditions for foreigners in South America
Real estate markets in South America are open for foreigners. In terms of purchase, you are equal to the citizens. Foreigners are also entitled to real estate lease and commercialization. However, there is no total liberty. All countries dictate a range of limitations for ownership right of foreigners. For instance, in most South American states, foreigners are prohibited to purchase land in border areas. In addition, some countries announce bans for real estate ownership for separate nations (Argentina) or for agricultural lands.
South America is an attractive place for investors and buyers of real estate in 2021. Islands in Brazil, Chile, Columbia or other regions have both great commercial prospects and favorable living conditions. Prominent culture and the most beautiful isles in the world highlight the benefits of purchase and rent. If you decided to buy an island in South America, engage a competent attorney and make your dream come true.