Brazilian property to be improved in bumper holiday sales
Brazilian property owners are improving their households with plasma televisions and new white goods in massive holiday spending sprees.
The Wall Street Journal reported the Sao Paulo Commerce Federation expected Brazilian retailers to sell at least 12 per cent more than they did in December last year, making it the best year in more than a decade.
Finance minister Guido Mantega went as far as predicting that there could be shortages in some areas, such as high-end televisions, as people look to add value to their Brazilian property.
The spending spree comes courtesy of a number of tax cuts which were placed on home appliances earlier this year, giving people an extra reason to shop for big-ticket items.
In recent months a number of car manufacturers, including BMW and Audi, have seen sales of their vehicles hit record levels, with the country’s growing middle-class taking advantage of tax cuts on automobiles.
