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June 25, 2009Article by Ray Withers
Brazil is booming again! I spend a considerable amount of time looking at the pulse of international real estate markets. I have to admit the past 18 months haven’t provided me with the most encouraging of news, but an article I came across this morning brings a smile to my face.
One of the largest emerging markets in the world and a long time champion of Property Frontiers has started to move forward again. Real estate sales have bounced dramatically with a 104-unit residential project in Sao Paulo selling out in 4 hours. This is phenomenally encouraging news, and one which I will follow with much curiosity! Brazil really is one of the best markets out there, the underlying fundamentals are very promising and I fully expect to see and hear a lot more positive news coming from this South American giant.
Don’t forget that this is a market where by only 2% of GDP is made up of personal mortgages, so Brazil has not had the debt inflated bubble that the West has endured and that ultimately led to the global credit crunch. This, coupled with a housing market with an 8 million strong deficit indicating absolute genuine demand and you understand, it is of little wonder why I am so bullish on Brazil.
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Written by: Christopher Chadd