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Brazil Property News: Bovespa rise fueled by real estate firm
15th February 2008 09:49
Brazil's Bovespa index rose for the fourth day running this week after one of the country's largest real estate developer's stock soared in value.
Cyrela Brazil Realty SA Empreendimentos e Participacoes' projects increased in value by 6.7 per cent to 24 reais in Sao Paulo.
Furthermore, it claimed that projects it began selling in the fourth quarter have increased more than fourfold from a year earlier, reports Bloomberg.
Regis Abreu, who helps manage about two billion reais in assets at Mercatto Gestao de Recursos in Rio de Janeiro, explained the economic situation of Brazil to the news provider.
He said: "Economic growth in Brazil this year won't be affected so much, despite the credit crisis and slump in global financial markets, thus Brazilian companies will still enjoy robust earnings growth."
Earlier this week, property expert Jamie Strong said in a podcast that Brazil's real estate market is "hard to surpass".
In the Nubricks.com podcast he praised the range of properties available for Brazilian investors and the ease of purchasing property in the Latin American nation.
For more information on Brazil property investment and to find out about uv10's latest projects, contact uv10 on 0845 643 1036 or email info@uv10.com or visit our website: http://www.uv10.com
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How to invest in Brazilian property
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