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Southern Brazil · Serra Gaúcha · Brazil · United States

Gramado and Southern Brazil, for investors who think in dollars.

Vostra Internacional is the arm of Vostra Imóveis built for foreign buyers and investors. We source, underwrite, acquire and manage property in Southern Brazil — with our focus on the Serra Gaúcha highlands — and we run the whole operation, from the inbound currency transfer to the monthly payout in dollars.

The current offering Speak with our U.S. representative

Porto Alegre, Brazil · Minnesota, United States

R$ 5.51 The dollar at a six-month high against the real. The same dollar buys about 7% more property than it did in September. November 5, 2026
12% / yr Contracted return on the development now raising capital in the Serra Gaúcha, over 36 months Terms being finalized
7.9M Visitors to Gramado in 2025, up 20.7% on the year, with the United States among its leading foreign origins Gramado Tourism Observatory
7.35% Gross annual residential rental return in Porto Alegre, against a 6.14% national average FipeZAP, August 2026

Who we are

A Southern Brazilian firm that speaks the foreign investor's language.

Vostra Imóveis has worked the Rio Grande do Sul market for fifteen years. Vostra Internacional exists because serving a buyer who lives abroad takes something else entirely: currency transfers, consular paperwork, non-resident structuring, reporting in dollars, and somebody on this end who answers the phone.

We are not a listings portal and we are not a marketplace. Every property that enters a portfolio was visited, appraised and negotiated by us, and stays under our management after the deed is signed. An investor buying in Brazil from abroad is not really buying a building — he is buying visibility into one. Organizing that visibility is the job.

We work Southern Brazil, the most established European-settled region in the country, and we concentrate our sourcing in the Serra Gaúcha — where land supply is capped by terrain and zoning, demand is tourism-driven and dollar-denominated, and the price per square meter already runs above the region's state capitals.

Two lines of business: an income portfolio of standing assets we buy and manage, and development capital placed alongside builders in the region. The services behind both are listed further down, phase by phase.

The focus

Gramado: capped land, dollar demand, record arrivals.

This is where most of our sourcing effort goes. Not out of sentiment — because of the numbers below, all of them public and dated.

Gramado in two minutes. Photography from Wikimedia Commons under CC BY, CC BY-SA, CC0 and public-domain licenses — author credits appear on the film's closing card.

Gramado behaves economically like an American mountain town — Aspen, Gatlinburg, Park City: the supply of land is fixed, held down by terrain, by zoning, and by the architectural standard the city enforces on itself. Demand is not. In 2025 the town drew 7.9 million visitors, up 20.7% on the previous year and within reach of its all-time record.

For anyone who lives on nightly rates, the number that matters is not how many people come but how long they stay: average length of stay rose from 3.71 to 4.63 nights in a single year. Visitors arrive from 72 countries, and the United States ranks alongside Argentina and Uruguay at the top of that list.

Scarcity has already repriced the land. New construction in Gramado now asks R$ 18,914 per square meter — above Florianópolis, Porto Alegre and Curitiba. The town moved R$ 420 million in property sales in 2025 and entered Brazil's ten largest real estate markets; in the second quarter of that year, 51% of the Gramado–Canela volume was luxury and super-luxury.

And supply has been frozen by public decision: in 2025 the municipality suspended new licenses for hotels with more than 20 rooms. Meanwhile Club Med Gramado, a R$ 1 billion investment, is scheduled to open in late 2027 — the kind of anchor that pulls infrastructure, employment and international traffic into the whole town, not just into the project that built it.

For a dollar investor, that stacks two sources of return into one asset: short-stay revenue indexed to the nightly rate, and appreciation of a stock that cannot grow as fast as the demand for it.

7.9M Visitors in 2025, up 20.7% on 2024
4.63 Nights average stay, against 3.71 in 2024
R$ 420M In property sales in 2025 — among Brazil's ten largest markets
R$ 1B Club Med Gramado, scheduled to open in late 2027

Raising now

Residential development in the Serra Gaúcha

Capital placed in a development by a builder with a track record in the region, carrying a contracted return of 12% per year over a 36-month term. The contract provides for early redemption and for moving the position into another development by the same builder.

The full file — location, specifications, construction schedule, sales plan, ownership structure and draft contract — goes out before any commitment is made.

The return is contracted with the builder and depends on performance of that contract. It is not a guaranteed investment, not a fixed-income instrument and not a security. Final terms are still being settled with the builder; this page will be updated once they are signed.

Contracted return
12% / yr
Term
36 months
Early redemption
Provided for in the contract
Transfer
Into another development by the same builder
Location
Gramado, Serra Gaúcha

The context

Southern Brazil in public numbers.

Gramado is the focus, but it is not an island: it sits inside a regional market the investor has to be able to check without us. The figures below come from FipeZAP — the index Fipe calculates from real listings — and from the capitals that benchmark the region.

Residential sale and rent · August 2026
IndicatorValue
Average asking price · Porto AlegreR$ 7,510/m²US$ 127 / sq ft
Average asking price · FlorianópolisR$ 13,531/m²US$ 228 / sq ft
New construction · GramadoR$ 18,914/m²US$ 319 / sq ft
Average asking rent · Porto AlegreR$ 46.46/m²US$ 0.78 / sq ft / mo
Rent · 12-month change · POA+11.04%
Gross rental return · Porto Alegre7.35% / yr
Gross rental return · national average6.14% / yr

The detail American investors notice first: in Porto Alegre asking prices moved 0.96% over twelve months while rents rose 11.04%. That is a compression in favor of whoever buys now — and it is why the city's gross return sits above the national average.

Average residential asking price

Reais per square meter · August 2026

Porto Alegre R$ 7,510
Brazil average R$ 9,954
Florianópolis R$ 13,531
FipeZAP Residential Sale Index, August 2026. Gramado is not covered by the index; its new-construction figure comes from the Brain/Planta study.

Gross annual rental return

Percent per year · August 2026

Florianópolis 5.39%
Brazil average 6.14%
Porto Alegre 7.35%
FipeZAP Residential Rental Index, August 2026. Gross of costs, condominium fees, vacancy and management.

Two lines

One buys income. The other builds it.

There are two products and nothing in between. Either the investor buys a portfolio of standing assets that Vostra selects, closes and then manages, or he places capital at the land and construction stage of a project he has seen fully underwritten before committing.

I

Income Portfolio

From US$ 1,000,000

We build the portfolio ourselves. We sweep the South for assets that can be leased today and carry a credible five-to-ten-year appreciation case, then negotiate, close and lease them. The investor approves the portfolio; everything else is on us.

Independent appraisal
Every property in a portfolio carries a Calegari Avaliações appraisal before the offer goes in. It is written into the mandate, not offered as an extra — it is what separates the party choosing the asset from the party earning on the transaction.
Legal
Title, lien, obligation and condominium due diligence and the deed itself sit with a law firm specialized in foreign investment in Brazil. Remote closing by consular power of attorney.
Management
Long-term leasing backed by rent-default insurance, with tenant screening done by us, or short-stay management. Monthly payout in dollars and a quarterly report comparing actual against projected.
Return profile
Variable. The public index puts gross rental return between 5.39% and 7.35% a year across the South's benchmark markets, before costs, condominium fees, vacancy and management. Every portfolio is underwritten asset by asset and no return is guaranteed.

II

Development Capital

Project by project · structure negotiated

Capital placed at the land and construction stage. Vostra originates the project and presents the complete file — and only then does the investor decide. Nothing is raised on a concept: every project that reaches an investor has already been through zoning, costing and an absorption study.

What you receive before committing
Site and neighborhood analysis, zoning and buildable area, the architectural program, construction budget and schedule, the sales and absorption plan, and a return projection with its assumptions stated.
Structures available
Equity in the project company; physical swap (permuta física) — capital returns as finished units in the completed building; financial swap (permuta financeira) — a contracted share of sales revenue; or a service contract with defined deliverables.
Where we build
The Serra Gaúcha first, in resort and short-stay product. Urban projects elsewhere in the South come in when the arithmetic beats the highlands.
Our role
Origination and acquisition of the land, structuring of the contract, oversight through construction, and commercialization of the finished units.

What we deliver

The whole service, from the first call to repatriation.

A foreign investor cannot execute a single one of the steps below on his own. This is the real list of what Vostra Internacional does for him, in the order it happens.

Before deciding

Market report Sourcing and curation of properties Revenue and cost projection

Structuring

Choosing between non-resident individual and Brazilian company CPF and required registrations Consular power of attorney, apostille and sworn translation Company formation where appropriate Non-resident bank account Compliance and source of funds Executing and documenting the inbound currency transfer

Acquisition

Exclusive buyer representation Independent appraisal Documentary due diligence Technical inspection Running the closing and the registration Preparing the property to lease

Operation

Long-term leasing with rent-default insurance Short-stay management Monthly payout in dollars Bookkeeping and the investor's filings Quarterly report in English Annual package for your U.S. accountant Insurance and claims Condominium representation and maintenance Succession planning for the Brazilian asset

Exit

Sale and marketing Sale and exit documentation Repatriation of proceeds

Two things nobody raises with an investor before he buys: if he dies owning the property personally, it enters Brazilian probate and locks up — which is why choosing the ownership structure is the first decision, not the last. And his American accountant will need the Brazilian asset's figures in a specific format every year; we hand that package over ready.

Process

How it runs, in order.

Five stages. Most investors reach the third within sixty days of the first call.

STAGE 1

Profile and mandate

A call with Tripp Parker in the U.S. and Felipe Calegari in Porto Alegre. Size, horizon, income versus appreciation, and which of the two lines fits. No cost.

STAGE 2

Structure and transfer

Ownership structure, CPF, consular power of attorney, non-resident account, and the inbound currency contract executed correctly — the document that supports repatriation later.

STAGE 3

Selection and acquisition

A short list with independent appraisals, comparables and projections. The investor approves; we run negotiation, due diligence, deed and registration.

STAGE 4

Operation

Leasing or short-stay, collections, maintenance, filings, monthly payout in dollars and a quarterly report. On development capital, this stage is construction oversight and pre-sales.

STAGE 5

Exit

Sale, exit documentation and repatriation of proceeds through the same currency channel the capital came in by, with the specialist firm handling the technical side.

The people

Three principals. You will deal with all of them.

Vostra Internacional is not a platform with a contact form in front of it. The people who source the asset, structure the contract and answer the call are the three below.

FC

Felipe Calegari

Founder · Managing Director · Product Analysis

Fifteen years in the Rio Grande do Sul market and a degree in business administration. Felipe founded Vostra Imóveis and leads asset selection and underwriting. He also runs Calegari Avaliações, the group's property appraisal practice — the discipline behind every number Vostra puts in front of an investor.

calegari23@gmail.com +55 (51) 98187-1087 linkedin.com/in/felipe-calegari-avaliador
MB

Marcelo Becker

Legal · Investor Support · New Projects

Marcelo carries the legal side of every transaction and becomes the investor's point of contact once a mandate is live — coordinating the law firm, the notary and registry work, and the documentation a buyer abroad needs. He also leads new project development, from site origination through the structure of the partnership or swap agreement.

Legal and investor relations · Porto Alegre
TP

Tripp Parker

U.S. Representative · Sales & Financial Advisory

Tripp Parker represents Vostra Internacional in the United States and is usually the first conversation. He works through how a Brazilian allocation sits inside a portfolio the investor already holds — currency exposure, horizon, treatment in both countries — and translates the Brazilian side of the transaction into terms an American recognizes.

+1 (651) 283-8450 United States · English

Before you decide

What you should know going in.

We would rather you read this now than find it at closing. None of it is unusual for cross-border property — and none of it is a reason not to do this. It is simply what moves the number at the end.

Currency runs both ways

The asset and the rent are in reais. The dollar went from R$ 5.14 in September to R$ 5.51 now — good for whoever is entering, bad for whoever already entered. A stronger real amplifies the dollar return; a weaker one erodes it, regardless of how the property performs.

A firm specialized in foreign investment

The legal and tax structuring of the operation is not done by us. Vostra Internacional works with a law firm specialized in foreign investment in Brazil, available to the investor from the choice of ownership structure through to exit documentation. We coordinate; they answer on the technical questions.

Returns are variable, never guaranteed

No product of ours promises a yield. The return on the current offering is contracted with the builder and depends on performance of that contract. The return on a rental portfolio depends on occupancy, defaults, maintenance and the market itself.

Property is an illiquid asset

Selling property in Brazil takes months, not days, and the exit price depends on the market at that moment. Capital allocated here should be capital the investor does not need back in the short term.

The indices on this page are market averages

They are public figures for entire cities, not the performance of a Vostra portfolio, and they are gross of costs and vacancy. The underwritten number will be specific to the properties actually bought.

Vostra is not an investment adviser

We are a real estate brokerage, development and management firm. This page is commercial information. Every investor should take his own legal, accounting and financial advice before deciding.

Start here

Tell us the size and the horizon. We will send the file.

The first conversation is a thirty-minute call with Tripp Parker in the United States and Felipe Calegari in Porto Alegre. Come with an allocation range and a horizon; leave with a file built for them.

Your details are assembled into a message addressed to Felipe. Nothing is sent or stored until you send it yourself.

United States
+1 (651) 283-8450Tripp Parker · U.S. representative
Brazil
+55 (51) 98187-1087Felipe Calegari · phone and WhatsApp
Email
calegari23@gmail.com
LinkedIn
felipe-calegari-avaliador
Office
Porto Alegre, Rio Grande do SulBrazil · UTC−3, two hours ahead of New York
Languages
English · Portuguese · SpanishBilingual documents on request