Real Estate & Mortgage News in Brazil from Propertyshowrooms.com

Interest in Brazil ‘on the up’

Tue, 30 Nov 2010 00:00:00 GMT

Individuals looking for property in Brazil may be interested to learn that the country is currently the most popular in the world in terms of enquiries.

According to real estate consultancy Colodarcy, in excess of 300 requests for homes are processed every week, but difficulties obtaining finance are hampering the chances of some buyers.

"We get close to 300 enquiries for property in Brazil each week, but we have to turn 70 per cent away because the lack of finance in Brazil at this stage," Loxley McKenzie, managing director of the firm, confirmed.

"However, we urge investors to buy now if they have the capital, because we expect prices to rise by at least 20 per cent upon mortgages re-entering the market," he added.

Meanwhile, Rightmove.co.uk has claimed that as a "pure investment" location, Brazil is currently "one step ahead" of other popular countries and is one of the best destinations around the world for investment.

Foreign buyers paying over the odds-190708

Sat, 19 Jul 2008 00:00:00 GMT

Many foreign property buyers could be paying more than they need to for their mortgage, experts have stated.

Finco Financial Services carried out a poll which found that 78 per cent of people took a mortgage with a lender recommended by their estate agent.

This has prompted it to warn that these people could be paying over the odds, as they will have failed to shop around for the best deal.

The company stated that it is "highly likely" that many of them are paying out too much on their mortgage repayments.

Kieren Byrne, founder of Finco, commented: "Foreign buyers don't shop around like they would if they were buying a property in the UK or Ireland."

This follows a study by market research group Datamonitor which revealed that people in the UK and Ireland currently own more than 3.8 million homes in other countries.

According to the organisation, non-European countries such as Brazil are becoming increasingly popular with foreign property buyers.

Visit our off-plan property Brazil page.

Global crunch 'will leave Brazil unaffected'

Tue, 26 Feb 2008 00:00:00 GMT

The effects of the global credit crunch will not impact on the economy in Brazil, according to one commentator.

Regis Abreu, an asset manager at Rio de Janeiro's Mercatto Gestao de Recursos, told Bloomberg that the country will continue to see "robust earnings growth" despite the slowdown that has been prompted by the implosion of the US's sub-prime mortgage market.

The credit crunch has also impacted on the UK's market, causing Northern Rock to run into financial difficulties and require an investment from the Bank of England to remain afloat. The bank has now been privatised by the government.

Mr Abreu's comments come as Brazil's stock market enjoyed its fourth consecutive day of growth. The share prices of a number of real estate developers - such as Gafisa SA - also rose, the news agency reports.

The news follows falling interest rates and low inflation in Brazil - two factors that could also benefit the Brazilian property market - have also been credited for the turnaround in the Brazil's furniture industry, reports the IHB website.

US$ 100 Million For Bahia’s Roads

Tue, 21 Nov 2006 00:00:00 GMT

This month The World Bank has approved a US$ 100 million loan to the State of Bahia in northeast Brazil to increase the efficiency of the State’s road infrastructure in readiness for the ever increasing traffic it is set to receive.

The bulk of the money will be spent on repair, resurfacing, safety and environmental rehabilitation, covering some 2,000 km of road surface, or 15%, of Bahia's paved road network. A major issue in Bahia’s transport sector has been the poor condition of the road networks. Insufficient funding and ever increasing traffic, including heavy goods trucks over the past fifteen years has led to the deterioration of the roads.

Currently this property hotspot area of northeast Brazil is undergoing a vast amount of development and off-plan projects, along with increased tourist activity and a heavy traffic flow. Investors are pleased to see that Brazil is keeping up with the infrastructure requirements of a top class tourist destination, while travel time will be kept to a minimum and safety to a maximum.

The upgrading of the State’s highways will bring with it vast improvements to the economy of Bahia. World Bank Director for Brazil, John Briscoe, said, “We are pleased to support the State’s long-term development by addressing the effectiveness in the use of State road infrastructure. By reducing the cost of doing business and increasing the State’s productivity, the project will have significant effects on job creation and income, as well as contribute to sustainable growth and poverty reduction.” This is a further indication of the massive growth potential of the Bahia area and good news for today’s investors.