Brazilian property prices 'lifted by housing shortage'
Date added: 9th November, 2010 at 09:58
(view all articles from November, 2010)
Categories: Economy, Property News, Rio, Olympics 2016, World Cup 2014
Brazilian property prices are climbing due to a shortage of houses, it has been claimed.
The Real Estate Channel reported that vice-president of the country's real estate association Conselho Federal de Corretores de Imoveis (COFECI) Francisco Rodolfo Pesserl made the statement at the recent National Association of Realtor annual conference in New Orleans.
"Because of our strong economic growth, we now face a housing shortage of close to five million units," the expert explained.
"This housing shortage has lead to soaring property prices throughout the region."
Mr Pesserl told the conference around 52 per cent of the Brazilian population is now middle class and able to purchase real estate.
Furthermore, the market may see even greater improvement as R$19.5 billion (£7.1 billion) of government investment in Brazil has been promised over the next three years to prepare the country for the forthcoming 2014 World Cup and 2016 Olympics, the news provider noted.
Echoing Mr Pesserl's comments, independent real estate broker Fabricio Negri recently told Property Wire property in Rio de Janeiro has doubled in value over the last year.
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of Brazilian property.
Related Articles
'Transfer money in instalments' when buying Brazilian property
Date added: 8th November, 2010 at 09:02
(view all articles from November, 2010)
Brazilian property 'outperforming US'
Date added: 5th November, 2010 at 14:56
(view all articles from November, 2010)
Property in Rio de Janeiro 'going green'
Date added: 5th November, 2010 at 09:16
(view all articles from November, 2010)