Brazil property boosted by strengthening economy

Tuesday, March 08, 2011

Brazil property boosted by strengthening economy

The Brazil property market is expected to continue to go from strength to strength, thanks mainly to the country's rapidly growing economy.

Official figures show that Brazil's economy increased by 7.5 per cent - its fastest pace in 24 years - putting its current GDP at £1.3 trillion. The economy is now expected enter top five world economies.

"If we consider prices and purchasing power, a pending homework from the World Bank and IMF, Brazil's GDP is $3.6 trillion, which places us in fifth place ahead of France and the UK", said Brazilian Finance Minister Guido Mantega.

Growth in local agriculture and manufacturing industries played a major role in the growth, while Property investors from around the world are flocking to Brazilian shores with a view to snapping up real estate, in anticipation of future capital growth. Overall investment increased by a staggering 21.8 per cent.

The Brazilian property market has got a lot going for it. In addition to having one of the world's fastest growing economies in the world, the country has a rapidly emerging mortgage market, a general shortage of quality homes, and has been selected to host the 2014 football World Cup and 2016 Olympic Games.

To read our guide on buying in Brazil, click here.

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A Place In The Sun