Brazil property market starting to make waves

Renowned for its spectacular, world class football, dazzling and colourful carnivals, and fantastic music, Brazil is rapidly emerging as a hotspot for property investment. With the cost of living almost 20% of that in the UK, and cost of construction a fraction, Brazil is starting to make an impression on the global property circuit. Especially with UK property buyers, who also have the advantage of the strong currency, property in Brazil is working hand in hand with the exotic holidays.

The property market in Brazil is in its early stages of development, and the government policy of "high-priority sustainable development" is helping move property prices along. There are no restrictions on foreign ownership of property as the government is encouraging foreign investment into the country. Recent economic growth combined with the growing wealth of the local population has seen an increase in buying power of Brazilians. This growing wealth will no doubt increase demand for property and push up prices.

According to The Daily Telegraph, only 22% of the population have financed their property with a mortgage compared to almost 70% in Europe and USA. Foreign tourism is developing fast and is predicted to grow by 4.3% a year between 2007 and 2014, according to the World Travel and Tourism Council. As banks start diversifying and developing their lending products, the market will grow and have a knock-on effect on demand for Brazilian property.

With the idyllic settings and surroundings of countries like Spain and the Caribbean, Brazil offers the same and more, but at a fraction of the cost. Brazil certainly should be on the radar of every shrewd investor.

Like what you read? Digg it. Tag it. Share it.

Other projects and articles of interest

• Brazil property market
• Resort Natalia, Natal, Brazil
• Investment in Brazil can go a long way
• Turtle Bay, Bahia, Brazil
• Kariri Beach Residence, Fortaleza, Brazil
• Emerging property markets opening up