Property expert: ‘Brazil is extremely strong’
Brazil’s real estate has been driving strong economic growth and is likely to continue, those considering buying property in Brazil may be pleased to hear, according to an industry expert.
Thomas O’Connor, co-head of the new Latin America Real Estate Group, said that "a middle-class boom" is to thank for Brazil’s strong growth, the Latin Business Chronicle reports.
He described the country’s economy on the whole as "extremely strong".
This is good news for those buying property in Brazil as their investments in Brazilian real estate could return higher profits if growth continues.
Mr O’Connor’s comments reiterate a report in the publication this month that 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.
It added that real estate loans in Brazil have nearly quadrupled the past three years, and predicted that the sector will continue to grow at strong levels.
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