Affordable housing projects 'the focus of Brazilian property developers'
Date added: 22nd June, 2011 at 10:11
(view all articles from June, 2011)
Categories: Property News, Rio
Investment in Brazilian property by developers has grown on the back of government policies aiming to encourage the construction of housing, according to one global research analyst.
RNCOS' latest Brazilian Housing Sector Analysis also stated that homebuilders are concentrating on affordable housing projects, which may include those built under the Minha Casa, Minha Vida (My House, My Life) initiative.
With property prices rising and demand for abodes strong, RNCOS predicted that the country's real estate industry will become the most profitable sector in Latin America in the coming years.
Furthermore, lending has improved at a very rapid rate for home buyers in the nation on the back of cheap credit, increased incomes and urbanisation, the report stated.
It predicted that demand for Brazilian property would rise to 1.8 million units by the end of 2014.
Although home builders were found to be concentrating on lower-cost housing, a recent Financial Times report suggests that high-end real estate is also performing well.
The news provider stated that property in Rio de Janeiro is now the most expensive in the Americas.
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