Brazil property boom to last another five years
Over the last five years, Brazil has been one of the best performing property markets in the world. MoneyWeek recently reported that prices in Rio De Janeiro and São Paulo have gone up 140% since 2008, while those in Brazil’s seven most important districts are up around 25% in the last year alone. And now, another leading analyst believes the boom is set to continue for another five years.
Forbes report that the Brazilian real estate market ‘has legs’ and that prices are expected to continue rising in the country until 2017. Keep reading to learn more about the excellent prospects for property in Brazil.
Property prices and rents rising in Brazil
Forbes believes that the property market in Brazil will continue to see rising prices for another five years, making it an excellent time to buy. They also point to falling interest rates as inflation begins to ease and the fact that Brazil’s middle class is now the majority of the population for the first time ever.
In addition, rental yields in Brazil are rising. This makes property an attractive investment for overseas buyers.
But why 2017? Why are prices expected to keep rising for five years before slowing? Keep reading to find out.
Major sporting events boosting property in Brazil
Brazil is hosting two major events over the next four years. The FIFA World Cup comes to the country in 2014 before the Olympic Games are hosted by Rio De Janeiro in 2016.
Marcus Vinicius de Oliveira, executive director of real estate valuation firm Consul Patrimonial, said: “There’s a psychological margin that Brazil real estate enjoys at the moment due to the oil discoveries off the coast of Rio, the World Cup and the Olympics, which makes Brazil very attractive to foreign investors at the moment.
“But after 2017 Brazil will still have its oil discoveries, but the World Cup and Olympics will be done with and foreign investment into Brazil will slow as a result.”
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