Brazil in top five for property investment
Tuesday, July 14, 2009
Now may be the best time to buy Brazilian property as the effects of the global economic recession have created bargains in the market and the country has been named as one of the top five areas for investment, according to an expert.
According to Real estate portal Propertyabroad.com, Rio de Janeiro and Natal in the north-east are the two of the best cities in the world for buying a home. The website refers to the predictions that the South American nation is set to become the fifth largest economy in the world in the next ten years, with Brazil real estate values set to follow suit.
Properties in Rio are still available at a fraction of the cost of comparable properties in the world's major cities like Paris, Rome and London. The portal added that the cheapest apartment in London is over £150,000 whereas investors can buy a 3 bedroom house in Natal for £120,000.
Meanwhile, Les Calvert, director of Property Abroad said that the economic crisis has led to bargain Brazil real estate coming onto the market for savvy investors, who are also likely to see values double over the next five years.
Thomas Shapiro, president of GoldenTree InSite Partners, said in Global Real Estate Summit that a recent 104-unit development in Sao Paulo sold out in four hours, showing demand for Brazilian property is picking up. The economy looks better than expected for the coming year, Mr. Shapiro stated, according to Reuters reports.
His views back up comments from Steve Worboys, director of Experience International, added that an increasing number of investors are realizing the potential of property in Brazil.
Social BookmarkingAccording to Real estate portal Propertyabroad.com, Rio de Janeiro and Natal in the north-east are the two of the best cities in the world for buying a home. The website refers to the predictions that the South American nation is set to become the fifth largest economy in the world in the next ten years, with Brazil real estate values set to follow suit.
Properties in Rio are still available at a fraction of the cost of comparable properties in the world's major cities like Paris, Rome and London. The portal added that the cheapest apartment in London is over £150,000 whereas investors can buy a 3 bedroom house in Natal for £120,000.
Meanwhile, Les Calvert, director of Property Abroad said that the economic crisis has led to bargain Brazil real estate coming onto the market for savvy investors, who are also likely to see values double over the next five years.
Thomas Shapiro, president of GoldenTree InSite Partners, said in Global Real Estate Summit that a recent 104-unit development in Sao Paulo sold out in four hours, showing demand for Brazilian property is picking up. The economy looks better than expected for the coming year, Mr. Shapiro stated, according to Reuters reports.
His views back up comments from Steve Worboys, director of Experience International, added that an increasing number of investors are realizing the potential of property in Brazil.
Labels: Investment-property, Latest-News
