Brazilian property market ‘has everything going for it’
The market for luxury property in Brazil has "everything going for it" due to the economic and political stability in the country at the moment, according to an expert.
James Gonzalez, market analyst at Obelisk Investment Property, says there is plenty of stimulus for continued growth in the Brazil real estate sector, particulary in the luxury second home market.
He highlights the recent substantial oil discoveries which have been helping the country to ride out the recession, with president Luiz Inacio Lula da Silva describing them as Brazil’s "second independence".
Mr Gonzalez asserts that the country is on course to fulfil the Goldman Sachs prediction that Brazil, along with Russia, India and China, will become an economic superpower by the year 2050.
"Brazil is a prime investment environment and one with enormous potential," he says.
Meanwhile, buyers looking to capitalise on the strong Brazilian property sector may be tempted by real estate in one of the 12 cities chosen as host venues for the World Cup in 2014, which were revealed yesterday (May 31st).
