North East 'up and coming' for investment in Brazil
Date added: 10th February, 2010 at 09:50
(view all articles from February, 2010)
Categories: Property News
People looking to make an investment in Brazil will have to be quick as house prices are increasing, according to the country's tourist office.
Glauco Chris Fuzinatto, director of UK and Ireland for the Brazilian Tourist Office, said the economy was still growing in the country.
He said: "People who want to invest in Brazil are going to have to invest quite quickly because there has been a huge investment in the infrastructure so the housing prices are starting to get high."
The economy is encouraging local people to buy property in Brazil, Mr Fuzinatto added.
He said: "Even the Brazilians are seeing the reputation that Brazil has. They are investing in more and more luxury properties and luxury segments."
The North East of the country is particularly booming, according to Mr Fuzinatto.
He said: "The whole of the North East of Brazil is really up and coming for second homes or holiday homes."
Salvador in the North East of the country, one of the areas described by Mr Fuzinatto as a place to see, could be one of the locations investors look to buy property in Brazil.
Mr Fuzinatto explained that the country is a good option for people looking to buy property as it has diverse cultures across its 26 states.
He said: "Every state has its own music, gastronomy and culture."
Mr Fuzinatto added that Brazil catered for everyone from people looking for a luxurious break to backpackers.
It is currently a good time to make an investment in Brazil as the country is to host the football World Cup in 2014 followed by the Olympic Games in 2016, bringing tourism revenue to the country.
Mr Fuzinatto said the announcement that the country is to hold the Olympics had made people consider making an investment in Brazil.
He said although the number of tourists visiting the country is increasing, the facilities are in place for many more visitors.
A report published in December 2009 predicted that the number of tourists visiting Brazil would rise to 9.2 million in 2014, compared to 4.7 million in 2001.
The study, from companiesandmarkets.com, said tourism in Brazil was finally beginning to fulfil its potential.
Last year, homesgofast.com said an investment in Brazil was the best choice for people making foreign property purchases.
The country beat off France, the US, Egypt and Turkey to land the number one spot in the top ten.
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