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PROPERTY IN BRAZIL REMAINS BUOYANT AMONGST CREDIT CRUNCH

Tuesday, 29 Jul 2008

Formerly regarded by many as 'the country of the future' – due to its immense potential - a spate of recently publicized statistics suggest that Brazil is now fulfilling its economic promise.

A spokesperson for a popular property portal explained that "The credit crunch has limited impact on emerging markets; Brazil has been in the running for a long time to become one of the strongest economies in the world together with India and China.”

According to another source, "Brazil is set to increase its influx of international holiday makers and the demand for rental accommodation will, of course, rise accordingly.”

It is rather clear to the discerning investors that the growing popularity for South America is by no means a novel idea. “There has been steady and solid interest which is substantiated by the upgrade of the country's infrastructure.”

Most media coverage suggests that "Brazil is a positive investment for anyone who wishes to expand their existing property portfolio, not only because of the economic stability but also the strength it is continuously showing".

A solid reason for this could be that Brazil's financial funding institutions have been positively marked by the recent favourable financial conditions, and are offering lower interest rates over longer periods as a result. The country's domestic property market therefore is saturated with cheap credit and, accordingly, is surging as strongly as its overseas counterpart.

With the numbers of tourists rocketing, (there was a 134 per cent increase in visitor numbers between 2002 and 2005), and the World Travel and Tourism Council expecting this figure to grow at a rate of 4.3 per cent per annum until 2014, it is of little surprise that Brazil is now seen as a top destination choice.

Whilst inflation is currently on a tight rein and the global commodity prices keep booming in all the right areas, only benefiting Brazil, the land of the samba can now finally boast a steady economic pulse.

At the end of the day, these recent financial figures will prove to be excellent value for money over an inordinate length of time.

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