Consumer spending is vital to Brazilian property market growth

Increasing consumer spending is vital to the growth of the Brazilian property sector, it has been claimed.

According to a new report by Business Monitor International (BMI), the economy in the country should expand by approximately five per cent this year and four per cent in 2011.

The investment guide claimed that Brazilian property prices are experiencing steady growth, along with capital values.

"Consumption has been booming, in part because of the rise in consumer sentiment, which is now at higher levels than at any time since the beginning of 2007," the report stated.

"It is also because of the growth in employment, which is a consequence of soaring investment."

The news may interest those looking for property in Mato Grosso, with the state's capital city Cuiaba likely to benefit from increased investment in infrastructure because of the forthcoming 2014 football World Cup.

Overseas Property Professional recently reported that UK buyers have spent more than £30 million on property in the South American destination over the course of the last year.

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