Chris Hoy investing in holiday home in Brazil

BBC Sport Personality of the Year Chris Hoy is buying a holiday home in Brazil. The Olympic cyclist is investing in a villa on the north east coast of Brazil.

Hoy is buying a holiday home in the exclusive Laguna Beach development in Tabatinga, Brazil. The medal winning Olympian told The Daily Mail that he is planning on developing his property portfolio alongside training for the London 2012 Olympics .

" Property in Brazil is booming, so I'm keen to get in while prices are relatively cheap," Hoy said of his new holiday home in Brazil . "Most importantly I want to use the new home as a private winter training camp."

However, the holiday villa in Brazil will also provide Hoy with somewhere to forget about work: "And I'll get the chance to relax and go on the beach," he added. Hoy chose Brazil largely due to the favourable climate and ease of access; the airport at Natal is close to Laguna Beach.

The Brazilian villa will not be Hoy's first property investment : "I bought my first small flat in Edinburgh in 2000....I lived there for years and it proved a great investment."

The Scottish cyclist currently lives in an apartment in Manchester , close to the National Cycle Centre's velodrome. However, the sportsman is planning on trading up soon. "I'm going to begin looking for a larger place in Manchester. I've got a fairly small apartment at the moment, but I think it's time to buy a house."

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