North-east Brazil attracts foreign property buyers

Foreign property buyers are increasingly snapping up houses for sale in north-east Brazil, it has been reported.

According to Gulf Weekly, the region has become a major of hotspot of activity for investors across the world, as well as holiday home buyers and expats.

The publication said this has led to it seeing record increases in property values in both the residential and commercial sectors.

Gulf Weekly commented: "Demand for property in this region is intensifying and so prices and potential returns are increasing."

The news provider added that the country's economy is continuing to experience growth, despite the recent slowdown in the US.

This was attributed to recent efforts to diversify the economy, as this has made it less reliant on any single sector.

According to NuBricks.com, Brazil is likely to experience economic growth of about 4.8 per cent this year.

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