Photo credit: Adrien Vieira de Mello
The investment consultants’ report highlights the FIFA World Cup and the upcoming 2016 Olympic Games as major drivers of the country’s economic and housing market growth, describing Brazil as having “the world’s most exciting property”.
“Hosting two of the world’s major sporting events within the space of two years has increased the need to improve infrastructure and the evidence is there for all to see in Brazil’s major cities,” comments Loxley McKenzie Managing Director of Colordarcy.
“With an economy that has grown rapidly, Brazil looks set to continue offering investors high emerging market returns at low risk.”
Looking at the property market as a whole, the report reveals evidence of some of the dramatic increases in property prices seen since 2009. Indeed, in 2013, national growth averaged 12 per cent, while data from polling firm Ibope shows that Sao Paulo has seen new home prices jump 85 per cent in 24 months. That growth is set to continue by 10 to 15 per cent per annum.
Colordarcy dismisses concerns of a potential price bubble as “highly improbable”.
“Unlike property markets elsewhere in the world, we should remember that Brazil is still an emerging market and most of …read more
Source: The Movechannel