Affordable housing projects 'not the only way to invest in Brazil'
Date added: 13th May, 2011 at 09:53
(view all articles from May, 2011)
Categories: Economy, Property News, Hotels, Social and Affordable Housing in Brazil
Affordable housing projects like Minha Casa, Minha Vida (My House, My Life) may be well known by people hoping to invest in Brazilian property, but it has been claimed that the real estate market is booming elsewhere as well.
In an article for Robers Kenneth Rapoza explained that commercial and leisure facilities are also seeing a lot of interest.
The journalist noted that the hotel industry is hotting up, with some big names giving their attention to Latin America's largest economy.
He spoke to fund manager at Alpine Woods Capital Joel Wells, who said: "Everyone knows there's a space deficit. You've got Hilton looking. And there's a space of about four to five years to get it done right, build your brand, monetize it in a fund structure or something like."
Meanwhile, other investors are looking to commercial real estate like shopping malls, Mr Rapoza noted.
For those keen to invest in residential Brazilian property, the journalist pointed out that interest rates are low, house prices are rising, Gafisa and Cyrela are developing affordable housing projects and the government is granting cheap loans to homebuilders and buyers.
With the majority of the population now catergorised as middle class, more people are looking to make purchases on abodes, the commentator added.
Indeed, these wealthier Brazilians also seem to have cash to splash on decorating their new homes, as furniture and household appliance sales recorded a 11.1 per cent rise in volumes in March compared with the same period a year before, according to the country's statistics offices.
Property Bond was established in 2003 to sell Brazilian Property to overseas investors, guiding buyers throughout the purchase process. It also offers a consultancy service for clients wishing to enter into Brazil or make contacts with suppliers.
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