brazil property rapid growth to resume post crunch
News Posted On: 18 May 2009
The short-term growth forecasts made for Brazil property last year will be realised when the international economy recovers, according to overseas property portal Property Abroad.
Brazil property prices are still very low, and it is set to grow into one of the world's largest economies, at which point property prices will be comparable to those of the world's largest economies currently. You do the math," said Julie Liddle, emerging markets analyst with the firm.
Brazil is one of the BRIC countries (Brazil, India, Russia, and China) which is an anagram that is widely received as meaning the world's most promising emerging markets.
"Last year, growth forecasts for Brazil property were between 25% to 100% growth in the next 2-5 years. Then the international downturn hit and prices have been stagnating since Q4 last year. When the international economy has recovered, Brazil's economic growth will go back into double digits, and property in the country will be back on track to see the massive growth previously forecast," she explained.
Though Brazil's economy has not been the world's worst affected by the international downturn by a long-way, its services and exports sectors have suffered as a result of the crunch's affect on the US, which has been one of the worst in the world.
Property Abroad.com is currently advertising dozens of properties for sale in Brazil, from a 1 bedroom apartment in Paraiba for £35k to 60 hectare commercial land opportunities in Natal for over £3million.
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