Real estate to capitalise on the record harvest
Monday, July 28, 2008
Brazilian property could be set to boom after the country is expecting a booming harvest this year, official statistics suggest.
Mercopress cited Brazilian Geography and Statistics Institute (IBGE) June month reports have revealed that the 2008 yield is expected to be almost eight per cent higher than that of 2007. As many countries are experiencing the effects of the global food crisis, Brazil appears to be self-sufficient which means prices are unlikely to soar and people will have more money for rent.
IBGE has estimated a record harvest of cereals, vegetables and oilseeds in the region of 143.6 million metric tones. Antonio Sarkis, President of The Arab Brazilian Chamber of Commerce has stated that Brazil has the natural talent to become one of the world leaders in agricultural sector, which could prove promising for potential buyers of Brazilian property.
According to the Financial Times, the Brazilian government plans to increase credit available for agricultural use to the equivalent of around £24.4 billion which is a 12 per cent rise and the interest rates for loans will remain at a steady 6.75 per cent to boost the sector. Meanwhile, Global property service provider Savills has highlighted the land in Brazil is among the cheapest productive property available in the world.
Property writer Judith Rehak said in The New York Times that Brazil is enjoying economic buoyancy which was the reason for a boom in property in Brazil.
Social BookmarkingMercopress cited Brazilian Geography and Statistics Institute (IBGE) June month reports have revealed that the 2008 yield is expected to be almost eight per cent higher than that of 2007. As many countries are experiencing the effects of the global food crisis, Brazil appears to be self-sufficient which means prices are unlikely to soar and people will have more money for rent.
IBGE has estimated a record harvest of cereals, vegetables and oilseeds in the region of 143.6 million metric tones. Antonio Sarkis, President of The Arab Brazilian Chamber of Commerce has stated that Brazil has the natural talent to become one of the world leaders in agricultural sector, which could prove promising for potential buyers of Brazilian property.
According to the Financial Times, the Brazilian government plans to increase credit available for agricultural use to the equivalent of around £24.4 billion which is a 12 per cent rise and the interest rates for loans will remain at a steady 6.75 per cent to boost the sector. Meanwhile, Global property service provider Savills has highlighted the land in Brazil is among the cheapest productive property available in the world.
Property writer Judith Rehak said in The New York Times that Brazil is enjoying economic buoyancy which was the reason for a boom in property in Brazil.
Labels: Economy, Latest-News, Market-Trends
