Published August 14th, 2008 by Mickey
Property investors are getting excited about Brazil
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A recent survey commissioned by the Brazilian Ministry of Tourism revealed that British buyers made up seven per cent of the overseas spend on residential property, parting with £28 million in 2007.
The main focus of property investment in Brazil is in the large cities of Sao Paulo and Rio de Janeiro, and the nine states of the north-eastern region.
Sao Paulo represents in terms of Brazilian economy and development. Sao Paulo city alone is responsible for more than 12 per cent of Brazil’s GDP and its property market is by far the strongest in Brazil. It is the most populated city in South America and has a huge deficit of accommodation; specially for the mid and lower income classes that now have more buying power due to credit allowance. A strong market such as Sao Paulo, offers not only the highest rental yield and capital appreciation but also a straightforward exit strategy for investors interested in investing elsewhere afterwards.â€