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Demand increases for property in Brazil

Date added: 20th July, 2009 at 09:35
(view all articles from July, 2009)

Categories: Property News

New mortgage application figures for Brazil have shown that demand for property in the country increased during the first quarter of this year.

According to data from Caxia Economico Federal (CEF), there was a 75 per cent increase in people seeking mortgage finance for property in Brazil in the first six months of this year, impartial advice site Homes Overseas reports.

Spokesperson for the CEF Jorge Hereda told local news provider Estado that this could indicate a rapid growth in the property market over the coming years.

In related news, Brazzil mag reports that 300,000 new formal jobs have been created in the country this year, according to the General Records Office for Employment and Unemployment.

The majority of positions were created in agriculture, services, construction and trade.

This could lead to an increase in disposable income and, in turn, more people opting to take holidays in Brazil's rental properties on the coasts.


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