Brazilian property 'attractive due to demand'
Date added: 12th November, 2010 at 09:25
(view all articles from November, 2010)
Categories: Property News
High demand for Brazilian property is making it attractive to investors, chief portfolio officer of Equity International Chris Fiegen recently claimed at the Kellogg Real Estate Conference 2010.
The expert added that speculators are also being encouraged by the fact the country does not have much debt, according to Mark Thomton, who reported on the event for REjournals.com.
"Brazil only has about 400,000 mortgages in the entire country," Mr Fiegen continued. "That is the size of Lincoln Park."
Indeed, vice-president of the nation's real estate association Conselho Federal de Corretores de Imoveis Francisco Rodolfo Pesserl recently argued Brazilian property prices were being lifted by the shortage of houses, according to the Real Estate Channel.
Out of the emerging markets - often known as Bric (Brazil, Russia, India and China) - the country is in the top two when it comes to those that are normally the most attractive to investors, Mr Thomton stated.
Mr Fiegen advocated ploughing money into real estate in these nations, explaining: "There is real demand. It is not contrived."
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