Boom predicted for Brazilian property market
Brazil is being tipped for a boom in real estate investment and sales, according to an industry expert.
Javier Fernandez-Pena, executive chairman at Spanish construction company Confide Brasil, said that international buyers will soon be looking closely at Brazilian property as it is starting to be seen as a fashionable country.
"Rio de Janeiro represents a tremendous opportunity for the country in terms of exposure and this is an opportunity that Brazil cannot miss," he added while speaking at the Why Brazil? Why Now? event.
Mr Fernandez-Pena also commented that in the short term, construction work on resorts in the South American country was going to be reliant on internal investors.
Foreign exchange company Moneycorp also recently reported an upturn in interest in Brazilian property.
It stated that enquiries in the country had jumped by nearly 60 per cent with over £22 million being sent to Brazil from the UK for property related purposes in 2008 alone.
