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Brazil Property To Be Top Seller And Investment In 2010
January 24, 2010Article by Ray Withers
Brazil property is expected to be one of the biggest sellers in international property in 2010, consultancy Property Frontiers has announced. Director David Cox said:
“It is the name on everyone we speak to’s lips. People are coming to us and telling us that Brazil is a property investment hotspot for 2010. All our products have investment potential of their own, and are suited to different types of investors, but when people respond to a newsletter on Slovakia, in which you have pointed out the country is one of the leading investments for 2010 to say: actually Brazil is the hotspot for 2010. That is when you see the selling potential Brazil has this year,” Cox explained.
Brazil emerged as a hot destination for private property investors in 2007, and continued to see popularity until about the final quarter of 2008. The north-east of the country was particularly popular, fuelled by the region’s rapidly growing economy, rising affluence in the population and rapidly rising tourism sector.
Like almost everywhere in the world Brazil property did see foreign demand fall massively at the end of 2008 and this glut continued throughout the first quarter of 2009. During this time Brazil did see economic recession, but the announcement that it had won the right to host the World Cup in 2014 and the Olympics in 2016 came at just the right time.
The first hints of economic recovery in the US, Asia and other parts of the world had just started to emerge, and fear subsided over the depths this crisis would plum. This led to people with substantial savings once again looking at property investment, but now as an alternative to the pitiful interest offered by the banks.
Brazil was on many a short-list anyway, but the two sporting announcements really brought it into the limelight. Since then, report after report and article after article have told us how quickly the Brazilian economy rebounded from its brief recession, and that the country now has oil reserves on top of its massive services and agricultural sectors. And that is why Brazil is now internationally recognised for its property investment potential and will be a hot seller in 2010.
Natal was a favourite during the high times, and it is already shaping up as a favourite for 2010 — not least because it is to be one of the host cities for the World Cup. Property Frontiers are currently marketing one of the finest developments in Natal; the Natal Ocean Club offering the pinnacle in modern, beach-front resort living and with the potential of 12% rental yields, priced from £133,000 for a 1 bedroom apartment.
For more information contact Property Frontiers on +44 (0) 1865 202700.