BlackRock names Brazil ‘top pick for investment’
Brazilian property buyers may be interested to learn that an investment management firm has named the country as its "top pick" among Latin American markets.
Will Landers, manager of the BlackRock Latin American Investment Trust, says: "The ever growing middle class means that Brazil is becoming increasingly less dependent on exports for economic growth."
He explains that during President Luiz Inacio Lula da Silva’s term there has been an emergence of a more solid middle class, with 15 per cent of the population that previously lived below the poverty line moving up the socio-economic scale and becoming more affluent.
Mr Landers says 20 to 30 million people who were not economically active ten years ago are now eligible for credit, meaning there is a ready consumer base for Brazilian property investors.
Meanwhile, Samantha Gore, sales director at uv10, has said that the massive domestic population in the country is buoying the Brazilian property market.
