Brazil property boom predicted
28/10/09 17:06
The Brazilian construction industry should brace itself for a surge in international interest, says a real estate expert.
According to Spanish building company Confide Brasil, the South American nation is on the brink of a property boom, expatriates planning a move to the country may be interested to hear.
Javier Fernandez-Pena, the firm's executive chairman, said international buyers are beginning to see Rio de Janeiro as a fashionable destination, representing a "tremendous opportunity" for the country as a whole.
In the short-term, however, ongoing construction projects will have to rely on internal investment as the recession begins to lift in other countries, he noted.
Mr Fernandez-Pena added that while investors are still looking for projects to fund, many are far more selective than in previous years.
Recent research by foreign exchange service Moneycorp revealed that enquiries regarding Brazilian property jumped by more than 57 per cent in August.
The study also found that over £22 million was sent to Brazil by clients in the UK for property enquiries and investments in 2008.
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