Could investment in property in Rio de Janeiro be boosted as Brazil outperforms UK
Date added: 26th July, 2010 at 10:50
(view all articles from July, 2010)
Categories: Rio
Property in Rio de Janeiro may have seen more investment in the second quarter of this year as research showed real estate in Brazil made a recovery.
The latest Royal Institution of Chartered Surveyors (Rics) Global Commercial Property Survey found that Latin America's largest economy was leading the way in terms of occupier demand, with the net balance of surveyors reporting a rise in the number of people looking for space at 85 per cent.
It was also found that new development starts were increasing in Brazil, while capital values were expected to be particularly strong in the nation's real estate market in the third quarter.
Simon Rubinsohn, Rics chief economist, commented: "Strong growth in [the country] ... is continuing to boost demand for new space from occupiers as well as encouraging investment activity."
Meanwhile, more developed countries saw a downturn in the market, with the net balance of chartered surveyors posting a rise in occupier demand turning negative for the first time in the past 12 months.
This follows a recent study by Jones Lang LaSalle, which found that investment in global real estate has almost doubled in the last year, with the strongest performance seen in Brazil.
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