Investment in Brazil's property market 'going strong'
Date added: 19th November, 2008 at 09:16 (view all articles from November, 2008)
Categories: Villas
Brazil has become more than just a holiday destination to overseas travellers in recent years - it is a place for them to invest in property.
This is the opinion of the Embassy of Brazil in London, with a spokesman claiming that foreign investors have "discovered" the South American country despite a relative lack of promotion when compared to other property hotspots.
He suggested that investment in North East Brazil is proving to be particular popular and stated that interest in the region is expected to continue to increase over the next ten years based on a projected rise in tourism.
Brazil's property prices have been increasing at a rate of approximately 20 per cent every year, according to the representative, who quoted research from Ernst and Young to demonstrate the potential growth in the market.
"The property market is expected to reach £130 billion by 2030, from the current £48 billion, which is a huge increase in the market," he commented.
One of Brazil's key strengths is the relative cheapness of its land, with BuyAssociation claiming that larger plots are frequently undervalued by sellers.
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