Brazilian real estate loans have ‘quadrupled in past 3 years’
Brazilian real estate loans have quadrupled in the past three years, according to one industry expert.
A report in the Latin Business Chronicle this month revealed that the Brazilian property sector is continuing to "grow at strong levels".
The article cites the Brazilian Association of Real Estate and Savings Institutions’ claims that the market has recorded positive growth every year since 2001.
Professor at the Catholic Pontifical University of Sao Paulo, Anita Kon, listed several economic factors which have helped the nation’s property market.
She told the publication: "The private financial sector has implemented measures to provide incentives for increased real estate financing.
"It has lengthened the time periods allowed for financing and made the regulations more flexible for verifying the incomes of borrowers."
Earlier this week, specialist website www.PropertyInSpain.net reported that Spanish banks are now "tightening their belts", with mortgages taking twice as long to be approved in the country.
With traditionally popular markets, such as Spain, having been detrimentally affected by the credit crunch, investors may want to consider buying a property in Brazil.
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