Brazil tipped to keep on booming

Brazil's property market will keep on booming, particularly in the north-east, it has been suggested.

Developers involved in the region have predicted that the growth of that part of the country is set to continue for several years yet, Propertywire reports.

Head of Sales and Marketing for uv10.com, Samantha Gore, said: "North-east Brazil in particular has an aggressive and sustainable real estate environment with unmatched rental and resale potential."

She added that some estimates set the number of new homes required in the region to cope with existing tourist demand to be 80,000, while the annual level of tourism growth is expected to be four per cent throughout the next decade.

Ms Gore was responding to suggestions by the International Monetary Fund that Brazil might see slower growth in its property industry due to the effect of the credit crunch on its buyer markets.

Brazilian property is becoming more affordable because its national currency the real has recently fallen in value, Nubricks.com reported last week.
 

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