Brazilian property prices go up
Property prices in Brazil have risen massively over the last year, according to Fipe Research Foundation.
It found that over the last twelve months, the average price per square metre of residential property went up by 21.8 per cent.
Savvy investors, mindful of such positive figures, have been attuned to the South American country's property market, eager to get a "slice of the pie".
With any significant growth there is always the matter of the "dreaded bubble", which has naturally been discussed with reference to Brazil's exponential growth.
"I don’t believe there is a bubble," Fabio Maceira, head of the Brazilian unit of Jones Lang LaSalle, told the Financial Times.
"The mortgage market is very small here. Yes, it’s growing, but it’s still very small."
His comments follow that of the country's finance minister, Guido Mantega, who downplayed the talk of a bubble last month.
"At the slightest sign of trouble, the government will step in with measures to guarantee an orderly market," he said, assuring investors that the government will not allow things to get out of control.
Posted by Joanne Connor