Brazilian property is getting cheaper as currency movements over the course of the past few weeks have put Brazilian property investors in a favorable position, it has been claimed.
Deane Roe, account manager for Foreign exchange specialist Moneycorp said that The Brazilian Real is currently being weakened and the currency movements over the past few weeks have been huge and it all works in favor of the US and British buyers. The dollar was worth 2.269 real (£0.70) on the Brazilian Mercantile and Futures Exchange at the opening and when it closed on Friday, this was worth 2.264 real. According to Emerginvest figures, Brazil's economic market posted returns of 13 per cent in the last quarter compared to the US's 4.87 per cent decline
In addition, Industry analysts are claiming that no proper conclusion by the G7 may have exacerbated the problems and this could potentially increase the value of foreign investment in property in Brazil. Dow jones cited a recent poll and has predicted that the real will fall to 2.30 dollars before the end of the year, which could be good news to those looking to buy a home in the country.
Brazil property could become main area of potential investment in 2009, after it was revealed by Kevin Brass, writing for the International Herald Tribune's properties blog raising the Roof, says "huge money from around the world continues to flow into the country" which will assist the real estate market.
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