Brazilian construction industry shown to be booming

Date added: 20th June, 2008 at 14:16 (view all articles from June, 2008)

Categories: Property News

The construction sector in Brazil is booming, suggesting there could soon be more properties available for people considering investment in Brazil.

Figures from the Annual Survey of Construction Industry, published by the Brazilian Institute for Geography and Statistics, showed that the value of construction services performed increased by 7.1 per cent when compared to figures from 2005.

What's more, the data clearly indicated the health of the residential market, with this sector growing by 9.4 per cent.

The research, which looked at the construction sector in Brazil in 2006, showed that expanding availability of credit, positive economic climates and a new tax system for related property and chattel mortgage all helped drive the residential construction boom.

A statement from the Brazilian Institute for Geography and Statistics noted: "According to the Central Bank of Brazil, the amount directed to real estate credit in 2006 was 85.5 per cent bigger than in 2005, and the number of housing units financed [was] 71.3 per cent bigger."

Recently, the Brazil-American Chamber of Commerce suggested that the Latin American nation's "recent economic success and stability in an uncertain global market" were encouraging people to consider buying property in Bahia and other areas.

Email this article to a friend

Related Articles