Brazilian property market outperforming US
Date added: 29th July, 2011 at 10:53
(view all articles from July, 2011)
Categories: Property News
The Brazilian property market is being boosted by a shortage of supply and is outperforming the US, according to the Royal Institution of Chartered Surveyors (Rics).
Figures from the body showed that tenant demand for business real estate increased in the nation between April and June.
Rics' Global Commercial Property Survey noted that real estate agents in the country saw more development starts in the second quarter than in the first three months of the year, but the amount of available space actually declined.
The net balance score of people reporting an increase in new construction was a very high 61 per cent, jumping from the 13 per cent level recorded between January and March.
Meanwhile, the net balance of agents noticing a rise in tenant demand grew to 79 per cent from 38 per cent in the first quarter.
Journalist Kenneth Rapoza recently wrote in an article for Robers that commercial property in Brazil is performing well, with hotel and shopping facility developments attracting the attention of investors.
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