Published on 14 July 2008 at 10:33 am
Filed in Property News for Brazil » Can Brazil’s Property Market Continue to Boom?
From the outside the Brazilian economy is doing something of a crazy dance at the moment. On the one hand the currency has risen to great heights of strength on the back of investor confidence, and on the other hand stocks have crashed because traders are concerned about the knock on effects of America’s dire economy. Inflation is rising sharply and causing concern, but President Lula is well known for his inflation busting attitude. So this all begs the very important question, can Brazil’s property market continue to boom?
Stacey (of Gavin and Stacey fame) thinks so – according to an interview with the actress who plays the part of Stacey in the Sunday Times this week, she has invested in a property in Brazil. Many media and property sources are now using her as testimony to the health of the market! Sorry, what a load of rubbish – is she a real estate investment tycoon? No she is not. Does she have greater insight than the next man or woman into which way the Brazilian real estate market will go? No she does not. Me thinks one needs to look a little more closely at Brazil before one jumps in actually…
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Because non-Brazilians are entitled to own freehold title to the land and property they purchase in Brazil this makes the entire Brazil real estate buying process that much simpler, and because Brazilian real estate is on the whole incredibly attractively priced, the overall appeal of the property market is obvious.
Associated property costs in Brazil such as taxes and maintenance costs are also agreeably low and this adds to the attraction of the sector. For anyone contemplating purchasing in Brazil this is a guide to the buying process.
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Since Brazil’s new administration took office in 2003 the government has succeeded in creating an economy ripe for foreign investor interest and promoting a fiscal and political environment conducive to growth.
These factors alone mean that the real estate sector in Brazil has become far more attractive to overseas investor interest and as international tourism numbers increase and retirement communities are established in Brazil, so the breadth of opportunity for investment is widening.
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Worldwide real estate investor interest in Brazil is intensifying since Brazil has successfully stabilised both its economic and political standing in recent years - as a result the country is now beginning to benefit substantially from international property investment.
It is also a country as incredibly fascinating and beautiful as it is huge; it is in fact the fifth largest country in the world, it borders every single South American country apart from Ecuador and Chile and it has the 10th largest GDP in the world.
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