When asked what single investment he would make in real estate, Sam Zell, billionaire real estate and media baron, replied “I’d buy Brazil. It has the chance 30 years from now of being a bigger economic power than China.”
This seems to be a view shared by others. In a recent article, the UK’s Times newspaper said that Latin American countries are well-placed to deal with the current problems in the global economy, and Brazil is a very safe investment option because it currently has a growing economy and political stability. It’s estimated the Brazilian economy will grow by around 5% this year.
The government is supporting investment by improving infrastructure in property hotspots. In addition, Brazilian authorities are preparing to host the football World Cup in 2014, a development which further enhances its desirability.
With new flights opening up the country, leading to interest from foreign investors, Brazil is enjoying considerable growth in its housing market. The Times commented: “Latin America is high on glamour but low on prices – the perfect mix for investors.”
With the credit crunch having such a negative effect on global real estate markets, Brazil looks to be one of the safer investments. 2 bedroom apartments in Rio start at around $130,000.
