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Brazilian property market 'won't crash'

Date : (News Section: Brazil)

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Brazilian property market 'won't crash'

A property market crash on the same scale witnessed in European destinations like Spain, Portugal and Ireland is unlikely to occur in Brazil.

This is the assertion of Samantha Gore, sales manager for UV10, who commented: "Undoubtedly there have been some significant double-digit percentage price hikes in Brazilian property over recent years but, instead of crashing, the consensus is that values will take a more modest path of growth."

She cited a Reuters poll of real estate and finance professionals published late last year, in which over half of the respondents anticipated price rises of between five and ten per cent for properties in Brazil in 2012.

Ms Gore pointed out one of the main factors that sets the South American nation apart from other real estate markets is that many sales are completed by domestic buyers who want a home, not by investors.

Earlier this week, managing director of DLT Property Dean Thomas highlighted Natal in the north-east of the country as a hotspot for real estate investment due to its tourist appeal and growing economy.


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Article created on behalf of Propertyshowrooms.com News Desk ()

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