Foreign property buyers 'will find plenty of bargains'
Date added: 11th June, 2009 at 10:53
(view all articles from June, 2009)
Categories: Tourism, Property News, Joao Pessoa
Anyone hoping to make an investment in foreign property, perhaps in Brazil, is likely to find plenty of bargains in the current economic climate.
This is according to Mark O'Sullivan of Currencies Direct, who said that Britons are willing to invest in foreign property at the moment because prices are falling.
He pointed out that for those who have available finances, preferably without needing a mortgage, now could be an ideal time to step in.
"There is no doubt that if you have got cash at the moment then [in] the overseas property market, there are so many bargains to be had," he commented.
Recent data released by Knight Frank supports the consensus that property prices abroad, particularly in emerging economies, are falling.
Its Global House Price Index found that 69 per cent of countries had reported a drop in property prices for the first quarter of 2009.
Indeed, property could be a better medium in which to invest than other assets such as currencies, which tend to fluctuate.
Emirates Business recently said that bricks and mortar can offer a better sense of security and more of a long-term prospect for returns than other projects.
The firm also highlighted Brazil as one of the top ten countries in the world in which to make this kind of investment.
According to Karl Tehrani, property investment expert at Examiner.com, Brazil is a country to watch when it comes to purchasing properties, thanks to the growing number of people who now make up the middle classes.
This group increasingly have disposable income and are spending it on travel and second homes, so anyone with holiday accommodation to rent out may be in the perfect position to cash in.
So, where may be the best location to purchase property in Brazil? The north east could be a good place to consider, thanks to its growing reputation as an exciting holiday destination.
Property in Joao Pessoa may offer good returns, as tourists like to visit it because it is the easternmost city in the Americas (the city where the sun rises first).
It has tropical beaches, but also a good cultural scene, with historic buildings from colonial times and plenty of regional craftwork available for purchase, particularly at the Mercado de Artesanato Paraibano (Paraibano Craft Market).
For younger travellers, there is also a good nightlife at Tambau Beach, with bars restaurants and clubs all within walking distance of each other.
Related Articles
Brazil property investors 'could make use of medical tourism'
Date added: 9th June, 2009 at 10:44
(view all articles from June, 2009)
Try Brazil 'for a celebration vacation'
Date added: 5th June, 2009 at 09:10
(view all articles from June, 2009)
See the whales from properties in Bahia
Date added: 4th June, 2009 at 12:22
(view all articles from June, 2009)