Brazilian property market ‘is lucrative and solid’
The Brazilian property market offers "very lucrative and solid" investment opportunities, according to an expert.
Michael Sutton, reporting for Write About Property, says that Brazil real estate can still be bought relatively cheaply, which makes it an "excellent" prospect.
"As Brazil grows into one of the world’s largest economies, property will grow in value until prices are similar to what they are in the world’s largest economies," he says.
He gives the example of a one-bedroom flat in Rio de Janeiro, which would currently cost around £80,000.
Mr Sutton says that the same property would be priced at approximately £150,000 in London at the moment, which suggests the potential for 100 per cent growth in the next five years.
He also highlights the six to eight per cent rental yields available in Rio de Janeiro.
In addition, the potential return on a one-bedroom apartment in Pipa, in the north-east of the country, stands at up to 200 reais (£62.70) a day during high season, according to research by the town.
