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Property boom in Brazil's north east 'will attract foreign and local buyers'

Date added: 2nd July, 2009 at 09:57
(view all articles from July, 2009)

Categories: Property News, Salvador

Both foreign and local property investors will be attracted to north east Brazil in the coming months as the region benefits from a real estate boom.

This is according to an article in the New York Times, which states that areas such as Recife are enjoying a growth in buying activity thanks to increases in wealth from locally-produced commodities.

It points out that almost all the areas that surround the Atlantic coast are seeing residential accommodation spring up as more people want to holiday there - and that investors could capitalise on this.

"Reduced taxes on construction materials now make it cheaper to build," pointed out Alessandro Teixeira, president of Brazil's Trade and Investment Promotion Agency.

He added that north eastern Brazil now also has the infrastructure to deal with large numbers of visitors.

Property in Salvador may be good as an investment when it comes to long-term returns, since the destination is becoming increasingly popular with travellers and the media.

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