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BRAZIL: A PROPERTY HOTSPOT IN 2008

Monday, 12 May 2008

Enquiries made to various property websites, give an early and clear indication that of the most sought-after locations, Brazil ranks rather highly, and is a top contender when seeking property to buy overseas.

However, the number looking to buy abroad has increased 30 per cent since January 2007, as buyers are looking to avoid the rocky ride caused by the recent global credit crunch.

"Cheaper overseas property investments are in vogue, with the majority of our top five property regions offering prime real estate at bargain prices," said Nicholas Marr, chief executive of www.Homesgofast.com.

"The creeping credit crunch means that more investors are looking for property in places like Egypt to avoid having to raise finance."

Brazil was the second most popular location on offer, closely followed by Egypt.

Both countries are witnessing increased interest from UK buyers thanks to growing reputations for strong appreciation, reasonable rental markets and beautiful beachfront properties, according to www.Homesgofast.com.

"Brits dismayed by sky-high house prices at home are increasingly looking at property in other countries - which offer competitive prices with solid appreciation - as an ideal investment or new home abroad," concluded Mr Marr.

As one of the largest countries in the world, Brazil is hard to miss on a map. Located on the east side of South America, the country turns an imposing face towards the Atlantic Ocean and Europe. But for many years, it has been overlooked as a holiday destination, partly because of its distance from places such as the UK and Ireland. Despite having attractions such as stunning beaches and a tropical climate, people have tended to get their fix of sun and sand closer to home.

However, changing attitudes and improved access have remedied this situation and now people are beginning to find out about what attractions Brazil has to offer. Since some European countries are struggling to cope with the impact of constant development over three decades, other destinations are becoming more and more appealing.

This is especially true among property investors, as the sudden
emergence of long-haul destinations as tourist markets has created a number of benefits that simply cannot be found closer to home.

Despite Brazil's considerable geographic size, it is still an emerging market and has therefore not experienced a property boom similar to those seen in Spain or the UK. But it is becoming more popular, which means there is growing demand for rental accommodation across the country.
In addition, many are choosing to snap up holiday homes in the most
desirable areas for personal use. This has had the effect of pushing up prices quite significantly and values are still heading upwards.

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