Brazilian property sector ‘largely unaffected by crisis’
Architects say the Brazilian property market has been largely unaffected by the global economic crisis, with firms continuing to secure contracts despite the financial downturn.
Designers in Sao Paulo are trying to maintain a balanced perspective, neither overly positive, nor pessimistic, according to Business Week.
"Even though we’ve had to make some adjustments, we’ve managed to keep our team working," says Roberto Aflalo Filho, a partner at architects firm Aflalo and Gasperino.
"Here, the crisis is not too tough since the euphoria was never too great," Luciano Margotto, a partner at Nucleo de Arquitetura, tells the news provider.
Local architects have reported some setbacks, but no crisis, and Mr Margotto’s company has recently been working on a variety of projects, while outside Sao Paulo, companies are also moving forward with most of their work.
Recently, property websites for overseas investors have reported an increase in the number of people searching for Brazil real estate.
