Experts: Brazilian property set for 2010 rebound
The global property market is ready for a rebound in 2010, with Brazilian property still offering opportunities which have receded in the West during the financial crisis, according to experts.
IbTimes.com reported that the Knowledge@Wharton forum, titled The Road to Recovery: Investing in the Global Real Estate Rebound, has told people looking at second properties that emerging markets, such as the Brazilian one, are a good bet for 2010.
Garry Garrabant, chief executive officer of Chicago developer Equity International, said his firm moved into Brazil ten years ago as it saw "great value" in the property markets.
Carlos Della Libera, executive advisor to the South American country’s housing secretary said that, as its economic growth had continued, people had become more interested in Brazilian property, rather than simply "samba, Caipirinha [a cocktail] and carnival".
Earlier this week, Margaret Summerfield, an industry analyst, said that Brazilian property in the north-east of the country is ideal for people looking to get away from it all thanks to its year-round sunshine.
