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Brazilian property market 'to benefit from new price index'

Date added: 18th October, 2010 at 10:44
(view all articles from October, 2010)

The Brazilian property market is soon to benefit from a price index, which researchers say will provide more accurate information than is currently on offer, according to one commentator.

Ruban Selvanayagam, writing for Global Property Guide, reported one of the country's universities - Fundacao Getulio Vargas - has been working on the system.

The index will measure the pricing of assets on the commercial real estate market and the writer felt its introduction could increase transparency in the sector.

Expected to be launched by the end of the year, the new system assesses the value of property through five phases.

Among these steps are the analysis of the sector's historical performance and the evaluation of unsold commercial real estate.

Mr Selvanayagam stated Professor Paulo Picchetti from the university believed the current systems for providing price information were not sufficient, as they rely on estimations from agents and portals.

The researcher added his team were also beginning to develop a national residential property index.

Financial services firm Jones Lang LaSalle recently stated Brazil's commercial property market was in an "enviable position", as a limited supply of such assets during the financial downturn increased its strength.

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