Brazil property market 'in good health'

Brazil is beginning to be seen as a viable option for investors looking to purchase property overseas, a spokesperson for the Embassy of Brazil has stated.

According to the embassy the country's property market is currently in good health, with prices of homes in the country increasing by 20 per cent every year, figures which are predicted to remain constant over the next decade due to the projected increase in tourism.

Figures from 2007 suggest that the total number of properties sold in the country increased by 80 per cent during that year and investors may be interested to note that property in the north-east of the country is making a key contribution to the growth figures.

"It seems like the outside world has discovered Brazil, not just as a place to visit, but as a place to invest on the property market," the spokesperson noted.

According to BuyAssociation, prices of land in the country can be reasonable, however those looking for a plot in an established development should expect to pay GBP20,000 for a 1,000 sq m site.