Brazilian property sector stronger than Spain
Sunday, July 19, 2009
The construction sector in Brazil is more resilient when compared to other markets, such as the US, UK or Spain, suggesting there could soon be more properties available for people considering investment in Brazil, according to an expert.
According to Dow Jones newswires, Joan Magee reports that the efforts by the government to counter falling Brazil real estate construction levels have helped the market to remain resilient than traditionally large property sectors. She adds that the Brazilian government is "pouring money" into World Cup infrastructure in preparation for waves of tourists, which should boost the property market. She also highlighted the predictions of cement output in South America rising by 6.9 per cent from 2010 to 2011 as another indication that the Brazil property market will turn around.
Eduardo Levy-Yeyati, a director and head of emerging markets strategy at Barclays Capital, tells the news provider, "Construction will weaken as in a typical recession, but will not tank as in the US, the UK or Spain."
Property experts believe that the activity in the housebuilding component is "noteworthy" and the improved buoyancy in housing market doings is boosting overseas investor’s confidence although the market for luxury and off-plan property in Brazil is not as strong as it was six months to a year ago, it could emerge from the downturn by next year.
Adam Samuel, director of Nubricks, comments "Because of the way the Brazilian economy stands up compared to many other overseas property markets, it stands a good chance of some sort of recovery over the next 12 months."
Mr. Samuel says that the combination of good deals, predictions of an economic upswing next year and the forecasted increase in demand for rental accommodation ahead of the World Cup in 2014, now could be the time for investors to get into the market.
Social BookmarkingAccording to Dow Jones newswires, Joan Magee reports that the efforts by the government to counter falling Brazil real estate construction levels have helped the market to remain resilient than traditionally large property sectors. She adds that the Brazilian government is "pouring money" into World Cup infrastructure in preparation for waves of tourists, which should boost the property market. She also highlighted the predictions of cement output in South America rising by 6.9 per cent from 2010 to 2011 as another indication that the Brazil property market will turn around.
Eduardo Levy-Yeyati, a director and head of emerging markets strategy at Barclays Capital, tells the news provider, "Construction will weaken as in a typical recession, but will not tank as in the US, the UK or Spain."
Property experts believe that the activity in the housebuilding component is "noteworthy" and the improved buoyancy in housing market doings is boosting overseas investor’s confidence although the market for luxury and off-plan property in Brazil is not as strong as it was six months to a year ago, it could emerge from the downturn by next year.
Adam Samuel, director of Nubricks, comments "Because of the way the Brazilian economy stands up compared to many other overseas property markets, it stands a good chance of some sort of recovery over the next 12 months."
Mr. Samuel says that the combination of good deals, predictions of an economic upswing next year and the forecasted increase in demand for rental accommodation ahead of the World Cup in 2014, now could be the time for investors to get into the market.
Labels: Market-Trends
