Brazil: ‘huge economic growth and low property prices’
Brazil has been named by leading financial service HiFX as one of the favourite emerging markets for property investors in 2008.
Experts at HiFX said that the Latin American country would be a lucrative choice as despite the "huge economic growth" currently underway in the nation property prices there still remain low.
In its second Annual Global Property Hot Spots roundup HiFX found that investors in developed economy markets are "increasingly turning their attention away from the traditional markets like Spain" in favour of the emerging markets, such as Brazil.
Mark Bodega, director at HiFX, said: "It’s easy to see why investors in particular are turning their backs on Spain and examining new markets at an earlier stage in their growth cycle."
He highlighted that in August 2007 the national median price for property sold to overseas buyers in Spain was approximately €250,000 (£188,780) whereas in other emerging markets the average price was closer to €60,000 (£45,311).
"Overall, [Spain's] lead is closing as the investor population continues to turn its attention to emerging markets in 2008," added Mr Bodega.
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