Brazilian property to ‘remain affordable’
Brazil real estate should remain affordable as the market continues to grow, according to a new foreign housing report.
Property industry research firm RNCOS said in its Brazilian property sector analysis that the country is likely to be dominated by the growth of affordable housing.
The report also stated that this will be the largest area of demand growth as the South American country’s economy expands.
A growing middle class, healthy levels of access to finance and strong government support should keep Brazilian property prices at reasonable levels for investors.
Samantha Gore, sales and marketing director of Brazil real estate firm UV10, said that the country will be boosted by the award of the 2016 Olympics to Rio de Janeiro and the 2014 football World Cup.
She added that the awards have put a "massive spotlight" on the nation, while it is also becoming a world-recognised powerhouse after it was recently elevated to ‘investment grade’ by the world’s leading financial services companies.
