Investors buying property in Brazil could see “higher returns”
The credit crunch has pushed a number of real estate investors to look at Brazil’s emerging market, it has been reported.
An analyst suggested that Brazil’s housing shortage has made the country’s real estate extremely attractive to those looking at property in Brazil, according to Investment News.
Amy Lauren Young, senior analyst at REITology, believes the deficit between supply and demand of property in Brazil’s urban market is eight million units.
Ms Young said: "As people have been growing their income levels, they’re moving to urban markets from the rural communities."
"So there’s a need to house these people who are moving into Sao Paulo, Rio [de Janeiro] and other cities like that."
The analyst added that the Latin American country’s market presents an opportunity for higher returns because of appreciation being much stronger.
Growth in the BRIC countries is up to between six and eight per cent so far this year compared to the US’s annual GDP growth of 0.6 per cent last quarter.
Meanwhile, an American expat couple told the New York Times last week that the Latin American nation is one of the most beautiful places in the world.
Nancy and Gene Celentano bought property in Rio five years ago and "have not looked back since".
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