Investment in Brazilian property to grow on retail sales rise?
Date added: 15th October, 2010 at 10:34
(view all articles from October, 2010)
Categories: Property News
People considering investing in Brazilian property may be encouraged by a growth in retail sales, reported by the Brazilian Institution of Geography and Statistics yesterday (October 14th).
Ronan McMagon recently wrote for the Daily Reckoning that rising consumerism, driven by the country's expanding middle-class demographic, was lifting demand for luxury goods - making the nation's real estate a good opportunity for speculators.
Retail sales were up two per cent in August compared with July, experiencing a yearly 10.4 per cent increase.
"Domestic consumption is being determined by the labour market and the expansion of credit," Roberto Padovani, chief economist at Banco WestLB do Brasil, told Bloomberg.
He added that the report showed economic growth is recovering after a slowdown earlier this year.
In a survey conducted by the news provider, economists predicted a 1.6 per cent gain in retail sales.
Nominal revenue grew by 1.6 per cent in August compared with July - its eighth month of increases - seeing a 12.8 per cent annual rise.
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of opportunities for investment in Brazilian property. 
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