Expert: Opportunities lie in Brazilian property
A real estate expert has predicted that the global housing market is rebounding well after the recession, as Brazilian property offers investors plenty of opportunities.
Billionaire property investor Sam Zell, founder and chairman of Equity Group Investments, told CNBC that he expected the housing sector to continue its recovery throughout 2010.
Mr Zell, who also owns BR Malls and Gafisa, two of the biggest property developers in Brazil, said that despite his interest in the US, it is in South America’s largest economy where housing is providing exciting opportunities.
"Brazil represents a very unique set of circumstances – it’s politically stable, it’s energy self-sufficient, it’s got a growing population, it’s an educated population and, consequently, it’s now – for the first time – beginning to kind of step out," he added.
The expert recently backed his hopes for the Brazilian property market by investing in an 8.5 per cent stake in Brazil Finance & Real Estate.
One area of Brazil which is proving popular with property investors is Natal, which can offer glorious sunshine and even more beautiful beaches for visitors.
