Brazil’s property market is set to become one of the hottest markets in 2010. The country is one of the world’s fastest growing economies. Foreign Direct Investment has increased and with Brazil set to host the 2014 football World Cup and 2016 Olympic Games, we will see improvements in infrastructure and huge growth in the construction industry.
Property investors from around the world are flocking to Brazilian shores with a view to snapping up real estate, in anticipation of future capital growth.
Brazil Property Specialist, Colordarcy have seen Brazilian property enquiries increase by 60%, since the Olympic announcement. The company has responded by launching a consultancy service to help clients to source the best real estate deals in Rio de Janeiro.
Loxley McKenzie, Chief Executive at Colordarcy – is predicting an annual increase of 20% per annum – carrying through to the Olympic. He said, ‘The time to purchase Brazil real estate is now, I have no doubt that we will see incredible growth over the next few years’.
Mortgages will soon be available to international buyers and this will create a further boost to Brazil’s property market.
Investment banking firm Goldman Sachs believes that Brazil’s economic growth could outstrip that of the other BRIC (Brazil, Russia, India and China) nations over the next few years.
Brazil’s economy is widely expected to become the fifth largest in the world by the time the Olympic Games kicks off in 2016, and yet property and land prices still remain a fraction of those found in more developed nations.
The Brazilian president Luiz Inacio Lula da Silva has already pledged to spend up to £11.5bn on building a million new homes in Brazil between now and 2011.
It is time to Samba all the way to Brazil.
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