Brazilian IPOs leading a global boom
Brazil is set to see a boost in the level of already booming real estate listings, an accountancy firm has said.
A report released yesterday by Ernst & Young revealed that there was a 20 per cent global rise in the number of real estate public offerings (IPOs) last year.
The firm suggest that this trend is set to continue.
Richard Smee, a partner at the firm told Reuters: "Brazil should see an increase in the level of real estate listings, as their infrastructure needs continue to be realised." Reuters reported.
He added that the biggest number of IPOs in 2007 came from property companies in Brazil, Japan and China.
According to the report, nearly $30 billion was raised through IPOs – up 62 per cent from 2006.
Meanwhile, interest in buying property in Brazil appears to have boomed after sales at a real estate event last month – Nordest Invest 2008 – reportedly exceeded all expectations.
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