Global property market ‘experiences increased confidence’
People thinking of buying property in Brazil have been told that confidence is returning to the global property market by an industry expert.
Paul Collins, editor at BuyAssociation, said that it was too early to declare a full scale recovery in the market but added that there was evidence of increased confidence.
He commented: "Just about every government out there has taken some fairly substantial measures to protect their economy and to protect property prices as part of that. Hopefully this will lead to more Brits feeling confident enough to buy overseas again and get back on the foreign property market."
Last month, Brazil real estate firm Cyrela Brazil Realty announced that it had seen a 67 per cent rise in its profits during the second quarter of 2009. The country’s largest homebuilder said that their net income had risen to 157.1 million reais (£51.7 million), compared to 94 million reais last year.
The commercial property arm of the company also made gross profits of 50.82 million reais (£16.8 million) in the second quarter of 2009.
