Brazilian property “more affordable than ever”
Brazilian properties are "more affordable than ever" due to the nation’s real weakening against the dollar, it has been reported.
Homesworldwide.co.uk states that Brazilian currency has dropped by over eight per cent against the US dollar in the past month.
The news provider adds that the nation appears to weathering the financial crisis, with president Lula da Silva quoted as saying: "What crisis? Go and ask Bush about that."
Brazil’s finance minister Guido Mantega has stated he believes the exchange rate will continue to move downwards but also predicts that Brazil’s economy will grow at 4.5 per cent and five per cent in 2009 and 2010, which could be good news for people buying property in Brazil.
It was previously reported by the Brazil Arab News Agency that the nation’s property market is in good health.
Sotheby’s Brazil has asserted that the global housing crisis has not had an impact in the country.
