Brazilian property tipped for massive growth
The Brazilian property market could grow by between 100 and 200 per cent, according to an expert.
Pioneer Land Group, a land acquisition company, said that due to the country’s promising economic prospects it is in a good position for growth.
The country has also been tipped by brokers Goldman Sachs to be the strongest of the four major emerging economies which make up the BRIC group (Brazil, Russia, India and China).
A spokesman for Pioneer Land Group added that Brazil is likely to become the fifth largest economy in the world over the next decade or so.
"Property and land prices are still a fraction of those found in the world’s developed nations which makes Brazil a fantastic opportunity for property investment, because as its economy grows into one of the largest in the world, property prices will almost certainly grow," he commented.
Last month, property expert Gunter Flemig told the New York Times that Brazil property will see a price rise of five per cent this year, despite the global recession.
