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Brazil Property News: 'Strong growth' for Latin American real estate
8th November 2007 10:02
Strong growth has been predicted for Latin America's real estate by industry experts.
Provider of investment banking services Morgan Stanley Real Estate Investing has said that despite the US subprime crisis Latin America's real estate sector is seeing "continued strong demand" helped by record investments and growing economies, such as Brazil.
Brian Carr, co-head of the investment banking company, told the Latin Business Chronicle: "We expect the rest of the year to be moderate; there have been considerable investments in Latin America over the last 18 months. The recent market turmoil in the financial and credit sectors have also impacted [on the economy], although to a lesser extent.
"The remainder of the year will see activity in the acquisitions and development areas in the main economies but at a slower rate than the last 12 to 18 months until the credit and capital markets in the United States and Europe recover."
Economic commentators have warned this week that Brazil should prepare itself for an influx of property investors, following the news that the Latin American country will host the 2014 World Cup.
Property expert Russell Messenger said that hosting the international football tournament will be "excellent" for the Brazilian economy.
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