Brazil Property News (report taken from Property Community).
Brazil becomes second best location for property appreciation.
Brazil has overtaken China as the second best location in the world for property capital appreciation, according to the Association of Foreign Investors in Real Estate.
Not only has it replaced China but it has entered the top ten capital appreciation investment destinations for the first time. The US still takes the top spot.
AFIRE, founded in the US in 1988 and which now has over 180 members in 21 countries, is known as the official voice of the foreign property investment industry in the US and its annual foreign investment survey is always eagerly awaited by the global real estate industry.
But now because of the volatility within the global real estate industry it has conducted a mid year poll of its members in order to dissipate the very latest information. ’With the escalation of the credit crisis, the rapid changes in the economy, and the government stimulus programmes, it was considered important to gauge any changes in investor sentiment,’ the organisation said.
Like many emerging property markets Brazil does not publish official real estate figures so it can be hard for potential investors to gauge what is happening so the information from this poll will be appreciated.
According to analysts at property investment company Obelisk International investors have been quick to recognise the potential offered in Brazil which has several prime areas for property investment including the popular north east region where luxury properties are priced at a fraction of what you would expect to pay in an equivalent resort in Europe.
Indeed, savvy investors who entered the market early on have already seen excellent capital appreciation, according to the AFIRE survey and this trend is likely to continue, according to the Association for the Real Estate and Tourism Development in northeast Brazil.
The 2014 World Cup is widely expected to attract further investment and tourism. In preparation the Government is spending $250 billion over the next six years on airports, roads, sanitation and hydroelectric power.
Add to that an emerging middle class with greater spending power and government plans to finance one million affordable new homes by 2010, and there is scope for cautious optimism, explained ADIT Nordeste president Felipe Cavalcante.
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