The latest HiFX Global Property Hotspots Report revealed that curio in buying properties in emblematic euro destinations such as France and Spain is fading as a number of British investors are being hit by the weakness of the pound against the euro. Mark Bodega, Director from HiFX has said that Sterling weakened drastically against the euro recently and touched an all-time low of 1.2344 in April. This has considerably augmented the cost of property for people buying in sterling.
Overseas property investors are thinking of the price increase that result from the strong euro would be offset by purchasing properties in emerging property markets like Brazil. The HiFX Global Property Hotspots Report also reveals rising interest in emerging markets such as Brazil, panama and Egypt.
NuBricks.com recently stated that Brazil is enjoying strong growth despite the current credit crunch. According to the website, Brazil could offer perfect conditions for overseas property investors as its tourism industry is currently undergoing major expansion. Experts consider Brazil is the "perfect" market for those who want a steady and reliable long-term investment. Mr. Lewis, a director of Savills, said that house prices across the country are expected to climb by at least eight per cent in 2008, although in some areas growth of up to 20 per cent is predicted.
Overseas Investors are being boosted by a strong economic climate in Brazil and it is likely to experience a further economic boost before 2014 when its hosts the football World Cup.
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