Brazil 'emerging as property hotspot'

The booming Brazilian economy is helping to create a property hotspot where prices will grow healthily, it has been stated.

Chintan Mahida, an overseas property expert with Nubricks.com, said the emergence of a strong economy in the South American nation was mainly due to its membership of the Bric group (Brazil, Russia, India, China) of emerging economies, which are actively encouraging foreign investment.

This will help the property market in the country, she added, stating: "Rising real estate prices are a side effect of an economy on the up. Investors seek out markets where rental returns are good and properties provide good cash flow."

Many people looking for cheaper overseas alternatives may consider Brazil because of these trends.

Among the developments that may help further advance Brazil's growth is tourism, with president Luiz Barretto launching a major tourism advertising campaign last month and the football-mad country preparing to host the World Cup in 2014.