Attraction of overseas investment ‘has not disappeared’
Despite the economic downturn, investing in real estate such as Brazilian property is still high on the agenda for Brits, according to new research.
Results from a survey carried out by Savills International and HomeAway.co.uk found that it has been buyers with a higher disposable income, and who are therefore less mortgage reliant, who have been responsible for this year’s purchases.
Charles Weston-Baker, head of Savills International, said that this year the overseas second home market will be characterised by cash-rich lifestyle buyers, which could boost the Brazilian property market.
Furthermore, a fifth of respondents in the survey said that they are considering additional holiday property purchases in the future, demonstrating that the recession has not caused too much damage to the industry.
Recently, Anna Thompson, a spokesperson for Worldwide Investments, observed that there were opportunities to be found in Brazilian property.
Posted by Helen Nash
