Brazilian property market will enjoy 'unprecedented growth'

A growing number of real estate developers are turning to Brazil for the best returns and biggest opportunities, it has been suggested.

Indeed, this is the opinion of Research and Markets, which has now decided to add the country to its housing sector analysis to keep up with the unprecedented demand.

The firm explained that the Brazilian property market is poised for "tremendous growth in the coming few years" as a result of its growing population, more affluent citizens and increasing demand for homes.

"Anticipating the market potential, Brazil is witnessing massive investments in its housing sector, from both the private and the public sector," Research and Markets said. "These investments are particularly targeted at meeting unprecedented demand for affordable housing units in the country."

Earlier this year, the Sao Paulo University Real Estate Department suggested that demand for residential property in Brazil could be set to rise this year.

The organisation said that continued economic growth and government investment are likely to bolster the country's property market, while increased demand from the middle and lower classes will help to push prices up.

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