Brazil is a hot and sizzling country, renowned for its spectacular world-class football, colorful carnivals and wonderful music. Brazil offers breathtaking natural beauty away from the coastline, historical cities, huge racial diversity, varied and affordable gastronomy, vibrant and colorful culture, and the friendly people of Brazil, all together would be welcoming and appealing to investors eyeing the Brazilian property market. The Brazilian property market has been progressing at a steady pace during the past years.
According to market analysts, Brazil has emerged as property market with an upward trend in the near future. Currently, the prices of Brazilian properties are low. In fact, the prices of properties at Ceara and Fortaleza are so low, that one can own a spacious Condo on the beach for just US Dollars forty thousand (despite increase in property prices by 20 percent last year).
Most areas in Brazil are being transformed into high-class resorts with supporting infrastructure that boosts the tourism sector. The market is therefore gaining momentum and property prices are steadily pushing up. Tourism in Brazil, which has surged by over 20 percent during the last couple of years, is likely to double this year.
This is likely to generate huge demand for resorts, vacation villas and holiday homes. The Brazilian government has invested millions of dollars in the tourism sector of the country, hoping to reclaim the city and stimulate the property market in Brazil. It is comparatively easy for foreigners to purchase a property in Brazil, as the foreigners are granted right of freehold properties.
Ownership of land and property is solid and secure with 100 percent ownership rights given for foreigners. Even the currency in Brazil has gained stability and is equally competitive as in cases of other international currencies. Situated amidst idyllic surroundings of countries like the Caribbean and Spain, Brazil should surely be on the radar of most investor.
According to Estatesbrazil.com, the steady fiscal reforms and economic stability will bring down the interest rates in Brazil to a very low level. Today, mortgage lending almost doesn't exist in Brazil, but, it is also possible that due to low interest rates there could be a mortgages lending boom, which could lead to increase in realty prices. Other favorable factors in Brazilian property sector The cost of living in most areas of Brazil are much lower than in most European destinations, and is currently 20 percent lesser than in the UK. Hence, even the cost of maintaining and managing property is low.
Hence Brazil is popularly known as a retirement haven for expatriates. The government is further making every effort to clean up any crime happening in the country, so that it becomes a safer place for tourists and residents. This strategy has definitely helped increase tourists-flow into the country. Brazil is located closer than similar tropical destinations with just seven to eight hours from Central Europe, and six hours from the USA. There are several direct flights linking Europe and Brazil, and the charter flights are flourishing too.
On the whole, there is a huge potential for property sector in Brazil, and irrespective of whether one is an investor or just on the look out for a second home, Brazil is the right place and the current property scenario is just right for the investment. The year 2008 is likely to be the most pivotal year in the Brazilian property market, offering unparalleled returns, say analysts.
Mahindra Acharya writes articles on the following topics: Investments in Turkey - Property market in Spain - Please take the time to visit the sites for more information.