Could this be the time to invest in Brazil?
Date added: 13th May, 2010 at 10:44
(view all articles from May, 2010)
Categories: Property News
Those seeking to invest in overseas property could miss a trick if they wait until after the new UK government has settled in, experts at the National Association of Estate Agents (NAEA) International have said.
Peter Bolton King, chief executive of the organisation, explained that buyers were waiting for the pound to rise in value and the market to recover before they invest.
Sterling, however, has been strengthening against the euro for most of the year and holding out to discover how the new government will affect the market may not see a better price on property or a stronger exchange rate, he said.
"If you can buy now and get into a good negotiation immediately then you're in a strong position to get a real bargain. Waiting is risky, as the market is improving and prices are likely to begin increasing in the third quarter of the year," Mr Bolton King added.
Property in Brazil may be one of the investments international house hunters will consider making this year, as JPMorgan focused on the country in its latest edition of Perspectives.
According to the financial services firm, Brazil was one of the last major economies to fall into recession during the global financial crisis and one of the first to recover, as it experienced fast economic growth driven by growing consumer demand, private sector success, social progress and fortuitous fiscal policies.