brazil property most popular says agent
News Posted On: 30 November 2010
Overseas property investment consultancy Colordarcy has said that Brazil is currently its most popular country.
‘We get close to 300 enquiries for property in Brazil each week, but we have to turn 70% away because the lack of finance in Brazil at this stage,’ said Loxley McKenzie, managing director of the firm.
‘However, we urge investors to buy now if they have the capital, because we expect prices to rise by at least 20% upon mortgages re-entering the market,’ he added.
Brazilian property is currently an investment no brainer, especially because opportunities now exist for western buyers to invest in affordable housing projects in cities like Natal.
Brazil has one of the world's largest agriculture sectors, which combined with the same services boom we have seen in most countries would have driven strong growth anyway. But then the country discovered oil, which really made it a force to be reckoned with.
More importantly from a property investment perspective the now-former President Luiz da Silva reinvested the growth back into the population, and through programs like Minha Casa Minha Vida and Bolsa Familiar he has created a massive 7 million unit housing shortfall, not least because his policies expanded the middle class by 29 million people during his 8 year term.
‘If an estate agent had served as the Brazilian President for the last eight years he couldn’t have laid better foundations for the Brazilian housing market than president Luiz Inácio Lula da Silva did in his two terms,’ said McKenzie.
The Brazil constitution sets out that the maximum a President can serve is two terms, but the Brazilian people recently elected da Silva’s chosen successor, Dilma Rousseff, who is expected to keep going on the same path as da Silva. This long term stability is another reason why people are tripping over each other to invest in Brazilian property.
Back to news articles for this country
Latest Related News Articles in Brazil
Brazilian Central Bank Rule Stokes Interest in Overseas Property
2012-04-27
A recent change to the amount of cash Brazilians are allowed to send overseas through banks and brok.....
Brazil Property Demand Fuelled by Tourism Growth
2011-09-21
According to the latest data from the Brazilian Ministry of Tourism some 4.4 million tourists arrive.....
Brazilian Condominiums Offering Good Rental Yields
2011-08-26
Brazilian condominiums are offering investors solid rental yields, with properties on the coast doin.....
Dubai Firm Given the Green Light to Advertise Brazil Property in UAE
2011-08-23
A Dubai firm has been given the go-ahead by the Real Estate Regulatory Agency, the Dubai real estate.....
Rising Rates Unlikely to Affect Brazilian Property Sales
2011-05-24
Brazil's third largest homebuilder says sales are unlikely to be affected by increased borrowing cos.....
Prices in Iracema Brazil set to increase
2011-02-25
Today the three-mile long boardwalk in Fortaleza has been extended along to Iracema and is now fully.....
Sao Paulo House Prices Easing Down
2011-01-12
Regional Council of Realtors for the State of São Paulo (CRECI-SP) points to increasing signs of a p.....
Brazilian Tourist Destination Set for Expansion
2010-12-24
Fortaleza is set to be a hot tourism and overseas property destination in 2011,.....
Brazil Property Growing in Popularity as Tourism and Investment Grow
2010-12-10
The popularity of Brazil as a property buying and tourism destination continues to grow massively.....
Brazil Property Most Popular Says Agent
2010-11-30
Colordarcy has reported that Brazil is currently the most popular country with overseas property buy.....