Brazil real estate booms
While the world’s real estate is hit by the credit crunch and subsequent economic downturn – property in Brazil has posted gains, one analyst is claiming.
According to a new report released by Real Capital Analytics on Friday (August 9th),
Brazil real estate enjoyed a rise of 40 per cent during the first six months of this year, it has been reported by Reuters.
Emergency markets accounted for one quarter of all property sales in the first-half of 2008 – up from ten per cent in the same period last year.
However, sales in the US dropped by early two-thirds (63 per cent), were down 57 per cent in the UK and slid 65 per cent in Germany.
It was reported by Agencia Brasil last week that the government was embarking upon a new strategy it hopes will capture the Olympic Games.
Those looking at Brazilian property could be interested to hear Orlando Silva, minister of sports, told the news agency he believes Rio de Janeiro would benefit from the legacy left behind by the games.
