Property investors should act fast to take advantage of the Brazilian property market before other South American buyers, says a leading agent.
Investors from other South American countries are buying up property developments before they are promoted in Europe and elsewhere, says a new Spotlight report from Savills. At the same time as the market grows, Brazilians and other South Americans will increasingly look to invest in overseas markets themselves.
Yolande Barnes, Director of Savills Research, says, “Brazilians, alongside other South American nationals, are poised to become more significant players in international real estate markets. As the domestic market grows and as investors have prospered at home, so they will become more inclined to look and invest overseas. With next year’s football World Cup and the 2016 Olympics both being hosted in Brazil, it is appropriate to focus on the country’s housing market, she says. “As Brazil’s wealthier classes have grown in number and are increasingly looking for avenues for investment, real estate becomes an increasingly attractive store of wealth and investment medium”