Opportunities for investment in Brazilian property 'opened up as foreign cash leaves country'
Date added: 23rd February, 2011 at 14:00
(view all articles from February, 2011)
Categories: Property News
There are more good opportunities for investment in Brazilian property now that foreign cash has left the country.
This is according to manager of BlackRock Latin American Investment Trust Will Landers, who explained to Citywire that the exit of overseas money has seen valuations in some sectors drop by up to 15 per cent.
While this may be good time for those interested in Brazilian property to buy, the expert does not think the fact that foreign investors have pulled out of the country suggests they will not return, saying the cash is likely to be "on the sidelines".
Mr Landers explained many had left the nation as "concern regarding the Middle East and Egypt started to hurt the market, then concerns specific to emerging markets like inflation and investor rotation out of emerging markets into developed markets".
The expert is taking advantage of the drop in valuations to invest in retailers and homebuilders in the country.
Investment in Brazilian property does appear to be holding up, as Reuters recently noted that builder of affordable housing projects, such as Minha Casa Minha Vida (My House, My Life) Direcional Engenharia sold R$354.2 million (£130.5 million) worth of shares in a recent offering.
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