Brazil construction sector at all-time high
Tuesday, July 15, 2008
The Union of the Civil Construction Industry (Sinduscon) has anticipated Brazil's construction sector's dramatic increase in activity and said that it should grow by a tenth this year.
Sinduscon has stated that the industry growth by nine per cent in 2007 will be beaten this year and suggests that these high levels of demand reflected in the Brazil's booming property market. ANBA has reported that Brazil’s vibrant economy and increasing purchasing powers as the main causes of the sector's performance.
Property experts believe that the growth in the housebuilding component is "noteworthy" and a healthy economic outlook is continuing to boost workloads within the construction industry. This improved buoyancy in housing market activity and prices are boosting housebuilders confidence. Eight million more homes are now required in Brazil and the publication added that nearly 15 per cent of Brazil's households are unfinished and most of them require regular maintenance work.
The sharp pace of growth is a mark of the confidence in the Brazil property market that companies are so eager to build, with the residential sector undoubtedly leading the way. High levels of demand and only limited supply may also increase the property prices and the country has seen capital growth of around 20 per cent in its property last year.
This comes after currency specialist HiFX has recently predicted Brazil to be a hotspot for property investors in 2008.
Social BookmarkingSinduscon has stated that the industry growth by nine per cent in 2007 will be beaten this year and suggests that these high levels of demand reflected in the Brazil's booming property market. ANBA has reported that Brazil’s vibrant economy and increasing purchasing powers as the main causes of the sector's performance.
Property experts believe that the growth in the housebuilding component is "noteworthy" and a healthy economic outlook is continuing to boost workloads within the construction industry. This improved buoyancy in housing market activity and prices are boosting housebuilders confidence. Eight million more homes are now required in Brazil and the publication added that nearly 15 per cent of Brazil's households are unfinished and most of them require regular maintenance work.
The sharp pace of growth is a mark of the confidence in the Brazil property market that companies are so eager to build, with the residential sector undoubtedly leading the way. High levels of demand and only limited supply may also increase the property prices and the country has seen capital growth of around 20 per cent in its property last year.
This comes after currency specialist HiFX has recently predicted Brazil to be a hotspot for property investors in 2008.
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