Buying real estate is a decision that involves various factors. Size, space, location, and mainly cost-benefit. Its high value makes it nearly impossible to be paid at sight, and for those who need help, financing is the best alternative. Within this process, Dubai arises to bring transparency and agility in the pursuit of "homeownership" in Brazil or in the United States.
The Brazilian dream
With the arrival of Plano Real (Real Plan) and the end of hyperinflation, the Brazilian government managed to get rid of debts from past decades and started helping citizens in accomplishing the dream of homeownership. And this keeps on being the great goal of the current generation. According to a research made in 2018 for the MindMiners startup, nearly 52% of Brazilians have as their main goal the purchase of real estate.
Although it had slowed down in the last two years, the real estate market has started 2020 showing signs of optimism. This drive is due to a decrease in the basic interest rate of our economy (SELIC rate). Four years ago, in August 2016, this rate was 10 percentage points higher than today, and according to the Brazilian Association of Real Estate Incorporators (Abrainc), this new scene can turn into a growth of up to 30% of the market.
Even with this positive wave, one must be calm and have studied it by the time of choosing a finance. It is increasingly common to find financing institutions with obscure contracts and tiny little letters. "The more we are on familiar terms with this real estate financing market, the more we find financing processes purposefully mis-designed", explains Luís Felipe Neiva Silveira, CEO of Dubai. "They end up charging non-predicted rates, adding one thing here, another there, turning the financing more expensive than it really has to be."
Financing abroad with agility and transparency
Founded in 2011, Dubai Correspondente Bancário experienced the real estate boom which Brazil made possible through its Minha Casa Minha Vida (My House My Life) Programme. Today, Dubai also makes financing possible in the United States, where nearly 1.4 million Brazilians currently live, according to an estimate by the Ministry of Foreign Affairs.
The enterprise is taking its clearness of negotiation abroad, which is its mark here. "Be it for living, to spend holidays or to invest, possessing property abroad is also the dream of many people, and we want to be facilitators in making the dreams of these Brazilians real", declares Luís Felipe.
The creation of Dubai arose exactly with this purpose of bringing transparency for Brazilians who want to feel confident by the time of making their dreams come true. It acts as intermediary agent between banks and private clients in the registry of contracts, notary's offices, city halls, and other organs. "Unfortunately, it is a very promiscuous field," explains Luís Felipe. "Charging less rates, attending to terms, and informing clients of every step made, are our differentials."
Still in accordance with a survey by Abrainc, the real estate market grows around 16% at each percentage point within the interest rate variation. This scene is ideal for whom is considering purchasing real estate, though whoever thinks it is only possible to finance within Brazilian territory is mistaken.
Until the period of economic recession, the enterprise signed nearly 100 contracts per month in various states, such as Rio de Janeiro, São Paulo, and the Federal District. But the work of our group goes beyond figures and goals: "In our own manner, it is a way of accomplishing social development. An area with urban development is a space with a decreased crime rate, generation of revenue, and more", concludes Luís Felipe.
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