Americans likely to turn eyes to Brazilian property soon
With the US economy on the brink of a serious and possibly protracted downturn, many wealthy Americans are actively considering the benefits of investing in non-dollar assets – and quickly.
Overseas property has long been popular with Americans, but few have looked beyond the tried, tested and pricey destinations in the Caribbean and western Europe.
The rise and rise of Brazil as an affordable, and now economically stable alternative, however, is pushing the Latin American giant into the sights of US investors.
Howestreet.com points to Fortaleza Ceara state, where apartments with a sea view cost around $150,000 (£75,000), but where land near to the beach can be obtained for as little as $15,000 (£7,500).
Writing for the news site, Lee Harrison said: "The world market seldom sees price distortions like the properties on the beaches around Fortaleza today. This market will move upward once the US buyer arrives. But for now you can still get great deals."
The obstacles to Americans buying property in Brazil in large numbers are relatively significant – visitors require a visa, air routes are minimal and expensive, and Brazil has done little to market itself in North America.
However, the value currently available will make the prospect irresistible for many, and that means the value of Brazil property is likely to continue to rise.
For more information on Brazil property investment and to find out about uv10’s latest projects, contact uv10 on 0845 643 1036 or email info@uv10.com or visit our website: http://www.uv10.com
