Brazil is an area of the world which is currently booming and according to several reports
, it is able to provide unrivalled investment opportunities. There is however a certain lack of official information on house prices and although the prediction for economic growth in Brazil looks good, it is still not clear whether this will translate to the residential property sector. The team at Terence Wright Spain examines some of the information they have managed to find.
There are of course 2 major sporting events which have driven interest in Brazil's property market in recent years, these being the 2014 World Cup and the 2016 Olympics being held in Rio which has made the country an attractive investment option to many.
Terence Wright in Spain has discovered that in the third quarter of 2009, average prices of new launches increased by 25% from the previous year and that the number of units launched also surged by 44% compared to one year ago. The same period has seen a 13% increase in the average number of sales and a 28% increase in the number of units sold.
The researchers at Terence Wright have unearthed figures for 7 of the major cities in Brazil which are as follows.The capital, Brazilia has seen prices rise by 15.9% between August 2010 and April 2011.
The northeastern tourist city of Fortaleza has seen an increase of 13.1% between March 2010 and April 2011.Brazil's 3rd largest city Belo Horizonte in the southeast has experienced a surge of 42.9% between April 2009 and April 2011.
Rio de Janeiro has seen a staggering 113.2% increase in prices since January 2008.Salvador, located in the northeastern state of Bahia has seen a rise of 5.4% between August 2010 and April 2011.
The city of Recife in the North saw a 16.2% rise between June 2010 and April 2011.Sao Paulo, the countries largest city, has also seen an impressive increase of 91% between January 2008 and April 2011.
Brazil is still experiencing a surprisingly average number of arrivals from international tourists equating to around 5 million a year with the majority of these travelling from elsewhere in the Americas. There is however a large domestic tourist market with the norteast of Brazil proving to be one of the most popular. The number of international arrivals is expected to change over the next 10 years with the advertising of the Olympics and the World Cup.
by: Javier
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2024-12-4 15:31
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