GVF: Brazil’s middle class booms
Brazilian property could be set to benefit from the country’s booming middle class, it has been reported.
Figures released by the Getulio Vargas Foundation (GVF) show the nation’s middle class now accounts for 51.89 per cent of its population up by nearly ten per cent since 2004, according to the ANBA.
Those considering buying property in Brazil could be interested to hear people living in the Latin American nation are becoming more affluent as it may result in a rise in the amount paid for rental accommodation.
Marcelo Neri, the economist responsible for the findings, said people are making their own money now and no longer rely on the government income transfer programmes.
"Brazil has done its homework over the last 20 years and is reaping the rewards," he added.
Meanwhile, it was reported by Agencia Brasil earlier in the week that new research from the Institute of Applied Economic Research has found Brazil’s economic growth has increased the number of rich citizens there.
