Developers 'focusing on affordable Brazilian housing'
Date added: 26th May, 2011 at 10:21
(view all articles from May, 2011)
Categories: Social and Affordable Housing in Brazil
Many developers are now focusing on affordable housing projects in Brazil, it has been claimed.
In an article for the Financial Times, the newspaper's deputy emerging markets editor and former Brazil correspondent Jonathan Wheatley discussed the country's current housing boom.
He stated that property firms are no longer concentrating on the top and upper-middle market, as it has "largely run its course".
Instead, they see the lower-middle and bottom end as being the sector for investment.
This will ensure the Brazilian property bubble will not burst, Mr Wheatley stated, because individuals living in these types of homes are price sensitive, meaning developers cannot over charge.
Although he noted values are increasing in the country's favelas, the expert said this market is "an interesting but isolated phenomenon and its behaviour will normalise as conditions improve".
Last month, Statesmanjournal.com reported that the US state of Oregon is to invest $100 million (£60 million) into Brazilian property and the country's Real Estate Opportunities Fund II.
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