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US and European residents increasingly moving into Brazilian property

Date added: 15th August, 2011 at 10:14
(view all articles from August, 2011)

Categories: Economy, Property News, Rio, Olympics 2016, World Cup 2014

People from the US, Britain and European countries are moving into Brazilian property, as a wealth of opportunities in the nation attracts Western professionals.

This is according to the New York Times, which explained Latin America's largest economy is rapidly expanding at a time when developed markets are struggling.

Describing this trend as "a gold-rush mind-set", the publication noted how the price of property in Rio de Janeiro has boomed as professionals like hedge fund managers and oil executives lease offices, according to Cushman and Wakefield research.

"If the rest of the world is cratering, this is a good place to be," US banker Seth Zalkin explained to the news provider.

The article also highlighted the positive effect of the forthcoming World Cup and Olympic Games on the value of property in Rio de Janeiro and the country's rising middle class demographic, which is leading to an increase in the number of people buying real estate.

Indeed, Mark Sharp, chief executive officer of the Association of International Property Professionals, recently stated that the city can offer particularly good opportunities for investment in Brazil.

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