Brazilian beachfront property ‘appeals to retirees’
Brazilian beachfront property is appealing to investors and retirees, according to new reports.
Government stability, sustained economic growth and affordable property have all been cited as reasons why demand for raw land, rental properties and second homes in Brazil has surged.
Property expert Jon Chilian said: "Americans and Europeans are being priced out of the housing market… The cost of living here is twenty per cent lower than their home countries. Many investors are looking at properties as a retirement option."
Brazil is considered by many to be a good investment following strong economic growth.
According to Bloomberg News in the four quarters ending on September 30th 2007 the Brazilian economy grew by 5.2 per cent from 4.9 per cent in the same period ending in June, the biggest accumulated annual growth rate since the end of 2004.
Mr Chilian added: "Beachfront and waterfront property is scarce in any country; when you find a property, the cost is often exorbitant or prohibitive. Despite the economic boom, property is still affordable in Brazil as is the cost of living."
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