Brazilian property market ‘offers fantastic opportunity’
The Brazilian property market looks set to become a "fantastic" opportunity for investment as interest from foreign buyers continues to increase, according to an expert.
Nick Cates, global business development manager at BRIC Group, tells the Move Channel that spending on infrastructure projects and the opening up of the domestic mortgage market makes Brazilian property attractive to investors.
"Condo prices are up by more than 20 per cent since last April and continue to rise and the short-term rental market is running at close to 100 per cent occupancy for the next three months," says Mr Cates.
He singles out Fortaleza as a particularly promising area for purchase and adds that there has been increased interest from Arab investors looking for property in Brazil.
Recently, Ronan McMahon, writing for Nuwire Investor, described Fortaleza as a "gift" for Brazilian property investors, saying homes in the area increase in value and offer good rental yields.
