Redpin, a property software firm, is launching Currencies Direct in Brazil to facilitate investments in Portuguese property.
This initiative targets the strong property-related foreign exchange flows from Brazil to Portugal. Brazilian nationals accounted for 15% of real estate sales in Portugal in 2023. This continues to contribute to the growth of the 250-500,000 Brazilians currently living in Portugal.
By creating a Brazil-to-Portugal service, Redpin says it will benefit both real estate agents and property legal professionals in Portugal who support Brazilian nationals with international property purchases, as well as private Brazilian clients looking to buy property in Portugal or send funds out of Brazil.
Currencies Direct will benefit these private clients through competitive BRL-EUR exchange rates, no transfer fees and high BRL transfer limits. Currencies Direct will also provide clients with expert guidance for optimal transaction timing as part of their 5-star rated, multi-award-winning service, which will be delivered end-to-end in Brazilian Portuguese.
This expansion into Brazil builds on Currencies Direct’s strong presence in Portugal, where the business has four offices and is affiliated with approximately 122 real estate partners, many of whom support Brazilian nationals purchasing property in Portugal. These and other real estate professionals will now be able to use their favoured Currencies Direct service for Brazilian nationals.
Partners and clients will be initially serviced by Brazilian-Portuguese speaking staff from Redpin’s global offices (comprising over 35 global locations and more than 800 employees) before the company’s first office is established in Brazil.
Rubem Galvâo, sales manager at Currencies Direct, comments: “Rooted in the historic ties between the two nations, Brazilians are the single largest foreign investor in Portuguese real estate, and so offering our award-winning services to this growing audience was a priority for us. With Brazilian investment in Portugal poised to increase by 50% over the next three years, according the Luso-Brazilian Chamber of Commerce and Industry (CCILB), now is the perfect time to launch our operations in Brazil and provide its citizens with smooth and secure international property transactions.”
Redpin says it has an end goal of working with 50,000 registered real estate professionals across 10,000 licensed agencies.
