Brazilian real estate sector ‘could witness a record year in 2010′
People are being drawn to Brazilian real estate more than in the past, thanks to the country’s improving investment grade rating, according to a property expert.
Gary Garrabrant, chief executive and co-founder of Equity International, a specialist in emerging markets, told Reuters that his company was drawn to Brazil because of the upgrade of sovereign debt.
"The waves of capital come and go and we are now in a wave. Brazil has earned the opportunity," he added.
Brazil’s economic growth is increasingly being seen as sustainable, thanks to a number of measures brought in by the government which have helped the country pull through the recession.
Steve Collins, managing director of broker Jones Lang LaSalle’s International Capital Group, said that the upcoming redevelopment of the main port in Rio de Janeiro, as well as construction and infrastructure ahead of the 2016 Olympic Games, will help to boost real estate sales.
The upcoming football World Cup in 2014 will also see a boom in infrastructure investment, with 12 host cities seeing new sporting facilities being upgraded or constructed.
