Credit crunch 'has positive effects' on Brazilian property investment
Date added: 21st November, 2008 at 09:46
(view all articles from November, 2008)
Categories: Natal, Villas, Hotels, Islands
Those interested in North East Brazil's property market may find that the credit crunch has actually created a number of benefits for investors.
This is the suggestion of Felipe Cavalcante, the chairman of North East real estate association Adit Nordeste, who was quoted by the Times as saying challenging economic conditions have forced "adventurers and speculators" to leave the market, while only "serious" and "well-structured" companies remain.
Not only does this appear to mean that property investors can now have more trust in the firms they work with, but such a withdrawal has also helped to bring down prices, according to an interview given by Silvio Bezerra, president of Rio Grande do Norte building syndicate Sinduscon, to Diario de Natal.
Mr Cavalcante implied that without the credit crunch the property market in Brazil may have become saturated.
"Had the economic crisis not occurred, the chances are that the market would have been flooded with new projects in 2009 and 2010," he remarked, adding that prospects appear to be good for investors in the long-term.
North East Brazil is set to be the site for a major windfarm investment over the next two years, with Ventania pledging to spend approximately £334 million on 11 new developments in the region, Brazzil Magazine reports.
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