Market for property in Brazil ‘more attractive then it has been for years’
Thursday 14th of June 2012
Over the last few years, Brazil has been one of the hottest property markets in the world. Now, thanks to stabilising prices and increasing rents, many property experts believe there has never been a better time to invest in the South American country.
Keep reading to learn more about why 2012 may be a great time to buy Property In Brazil.
Lots of reasons to invest in Property In Brazil
Over recent years, Rio De Janeiro has become one of the world’s most desirable cities to live in. Property prices in the city have more than doubled since 2008 – although the last year has been a different story.
A surprise fall in Brazil’s economic output and a resultant fall in demand for homes from Brazil’s burgeoning middle class has seen a slowing in price rises. As Property Wire reports, ‘as a result, the once high and mighty Real is now slipping from its pedestal. The Brazilian Real was regarded as one of the most over-valued currencies in the world until recently, but has fallen sharply in the last few months...’
This fall in the value of the Real is great news for foreign buyers. This is because interest in Brazil is set to remain strong through the 2014 FIFA World Cup and 2016 Olympic Games and because rents in the country are rising steeply. And, as foreign currencies buy more Reals than they did a year ago, the cost of property in Brazil has fallen by around a fifth.
Investors in Property In Brazil can therefore expect to see good rental yields and a strong demand for property over the next few years.
Samantha Mortner Flores, a Brazilian Property expert, said: “The market is entering a new phase, and for foreign investors, it is looking more attractive than it has done for years.”