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Brazil Property News: Brazil's ex-pats return home
2nd April 2008 06:00
In a move that may interest those considering buying property in Brazil, thousands of the country's ex-pats are returning back home to live, it has emerged.
Marketplace reports that Brazilian immigrants living in the US are returning home due to the country's booming economy and the weakness of the dollar.
This could have an affect on property in Brazil as returning immigrants will need somewhere to live.
In a radio broadcast, the business news provider said that foreign exchange rates influenced a number of factors including imports, exports and immigration.
Fausto Da Rocha, who runs a Brazilian immigration centre in Allston, Massachusetts, told the broadcaster that up until recently Brazilians crowded blocks in the city centre.
"Now we start to have the reverse - the Brazilians not coming.
"We see more and more Brazilians move back," he added.
The programme said it expected as many as 10,000 Brazilian immigrants in Boston to return home this year following similar exoduses in New Jersey and South Florida.
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