Brazil real estate beats subprime crisis, says expert
Brazilian property is untouched despite the current financial climate as a result of the US subprime mortgage crisis, it has been reported.
Emerging markets – such as Brazil real estate – are still thriving unlike many European markets and that in the United States, according to Reuters.
"The global credit crunch sent property prices reeling in developed markets from the United States to Spain, but it appears to have done little to slow the real estate sector in places like Brazil and Russia," the report continued.
Emerging countries are still enjoying growth due to a commodities boom and improved access to mortgage financing, it added.
Those considering buying property in Brazil could be interested to hear the Latin American nation’s real estate is being recommended as safe during the credit crisis.
Meanwhile, it was reported by Bloomberg last month that property in Brazil will not be dampened by the country’s first interest rate rise in three years.
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