Property in Brazil is Streets Ahead

Property giant Rightmove has said that Brazilian property is currently "one step ahead" of other overseas property hotspots.

As a "pure investment" location, there is a "lot of buzz" surrounding the country at the moment said Robin Wilson, head of the portal’s overseas division.

"Its size and burgeoning economy do put it a step ahead of the investment pack, but regardless, buyers must go into it with eyes wide open, do their research and treat it as long-term investment," he explained.

This is all part of the very buzz being referred to, as is the recent findings of the Worldwide Property Group. 58% of the people surveyed by WPG said that they are currently thinking of buying an overseas property, and 83% said that now is a good time to buy — unfortunately a slight fall on the high of 86 recorded last month. Of those planning to buy, Brazil, the Caribbean and Spain were the top choices.

Mr Wilson went on to say that potential investors should "keep a clear head" and monitor fluctuations in exchange rates closely, before committing to buy.

The hype about Brazil is understandable. During the boom risk was forgotten and returns were all that people cared about, but now, people are far more conscious of the risk in their investments and this is why Brazil is so popular.

The rapid economic growth in the Brazilian economy is based on the massive growth in the services sector including tourism, as well as having one of the largest agricultural sectors in the world, but it has the recent massive oil discovery as a back-up. This means that growth looks very sustainable over the mid-long term — especially because of the way the government is reinvesting in the people.

Because of the government reinvesting in the people, affluence in Brazil is growing rapidly and with it aspirations of property ownership. During former President Luiz da Silva’s two terms the Brazilian middle class expanded by 29 million people. There is currently a housing deficit of 7 million but this is growing, and giving property investors a strong and reliable exit strategy — especially now that there is availability of affordable housing investments from overseas property agents like Colordarcy.

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