Brazil is a ’sound investment’
Brazil has been named as a sound property investment by industry experts this week.
Speaking to Finance Daily, a spokesperson for Close Investment’s property division advised that European property markets are now in "oversupply".
Maria Grubmueller, head of research for the investment firm’s property division, told the finance publication that as some of these markets have been boosted by foreign investment, their economic development does not always "match demand".
Finance Daily specifically advises against investing in France and Spain as it says interest in the latter has decreased by two per cent since 2006 and is ten per cent lower than it was in 2005.
Similarly enquiries in French property were down by seven per cent in 2007 compared to 2005.
The publication cites HiFX’s Annual Global Property Hot Spots round-up, published at the beginning of this year, which tipped emerging markets such as Brazil and China as lucrative locations for investment.
Last week it emerged that a Brazilian real-estate developer is in line to receive a grant to build 20,000 new homes in Brazil.
Inpar’s domestic property development signifies a clear demand for property in the Latin American nation.
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