Figures suggest more Brazilian property will soon be available
Date added: 17th April, 2008 at 11:20
(view all articles from April, 2008)
Categories: Apartments
New research suggests that there could be more real estate in Brazil available for investment in the future, as the construction sector is growing rapidly.
Data released by the Union of the Civil Construction Industry (Sinduscon) showed that the civil construction section grew by nine per cent last year, the Brazil Arab News Agency reported.
What's more, the union estimated that the sector would also grow by ten per cent over the course of 2008.
The estimates were based on the fact that sales of construction material were up 8.5 per cent in the first quarter of the year when compared to the same period in 2007.
According to Sinduscon, the growing wealth of the middle classes in Brazil was driving construction of new Brazilian property.
The BANA suggested that foreign interest in Brazilian property was also increasing demand for new buildings.
Recently, market analyst James Gonzalez suggested that it could be sensible to invest in Brazilian property in the currently global economic climate.
He said: "Brazil is widely viewed by international investors as a safe haven from the sub-prime mortgage world."
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