Brazilian property developer to build 20,000 new homes
Wednesday, April 2, 2008
A Brazilian real estate developer has received permission to construct about 20,000 new homes.
The Sao Paulo-based company, Inpar, is likely to receive $1billion from Caixa Economica, the state-controlled bank, for construction of these properties.
According to a report by Bloomberg, Brazilians earning ten times the minimum monthly salary are the targeted residents for these homes built by Inpar.
This development indicates an increasing demand for the property in the Latin American country, a trend, which most foreign property investors are capitalizing on, at the moment.
During a span of past five years, the real estate prices in Brazil, have increased by 20 percent, while in certain areas in the North-Eastern part of the country, this figure is even higher.
According to Expert researchers, Property Investor and Homebuyer Show, based in UK, Brazil is an emerging country, which was on the verge of a property boom in the show that happened last year.
Official statistics indicate that the cost of living in Natal, located in the north-east of Brazil, is 20 percent lower than that in UK, with the prices of residential properties being one-third of that in Spain.
Social BookmarkingThe Sao Paulo-based company, Inpar, is likely to receive $1billion from Caixa Economica, the state-controlled bank, for construction of these properties.
According to a report by Bloomberg, Brazilians earning ten times the minimum monthly salary are the targeted residents for these homes built by Inpar.
This development indicates an increasing demand for the property in the Latin American country, a trend, which most foreign property investors are capitalizing on, at the moment.
During a span of past five years, the real estate prices in Brazil, have increased by 20 percent, while in certain areas in the North-Eastern part of the country, this figure is even higher.
According to Expert researchers, Property Investor and Homebuyer Show, based in UK, Brazil is an emerging country, which was on the verge of a property boom in the show that happened last year.
Official statistics indicate that the cost of living in Natal, located in the north-east of Brazil, is 20 percent lower than that in UK, with the prices of residential properties being one-third of that in Spain.
Labels: New-developments
