The Brazil property market is offering fantastic opportunities in 2010 and buying a property in Brazil could be the realization of a dream for a lot of people.
Mark Bodega, director of currency specialists HiFX, said that as the Brazilian property will probably represent one of the greatest expenses in a person's life, a number of things need to be taken into account.
The Brazilian currency has been in consolidation mode for the last three months after a leading performance in 2009 and is off its highs against the US dollar and the pound. Its fortunes have been constrained not only by a feeling that it had strengthened too far, too quickly and there is still no certainty that the sterling/real exchange rate will move in any particular direction. So investors are advised to hedge their exposure, buying forward 50% of the reais they will need, according to Investment Management Co (Pimco) reports.
Mr. Bodega commented: "As part of the process, buyers will inevitably need to transfer a sterling sum." This could make a vital difference to the cost that people will eventually have to pay for their dream home. The expert told people interested in buying Brazilian property that specialist currency dealers will offer them a better rate of exchange than a bank, while also providing a more personalized service.
Meanwhile, a recent report by investment firm Obelisk said that a majority of experts are predicting that the right place for property in 2010 is Brazil and the right time is now.
"One after another, property analysts and economic experts are tipping Brazil as the place to invest this year. Whether your investment is in real estate, land, soft commodities or equities, Brazil is the investment location for 2010," it added.
0 comments:
Post a Comment