Saturday, August 31, 2013

Brazil's property prices incresed 11.1% year-on-year

Brazil's property prices are still climbing and up 11.1% year-on-year, according to the latest research.
28 Aug 2013
Values rose 1.1% in June, taking the increase so far in 2013 to 6.1%, the latest data from the Institute of Economic Research Foundation 
The FIPEZAP index is the main indicator of the Brazilian real estate market and includes 16 regions across the country.
June’s average price was R$ 6,824 (US$ 3,045,07) per square metre, with Rio de Janeiro commanding the highest prices.
Property values in the state of Rio de Janeiro, rose 1.4% in the month, and by 1.1% in Sao Paulo.
Luke Smith, Managing Director of independent investment consultants Crystal Investment and Real Estate, says Brazil is one of the fastest growing economies in the world and is South America's property hotspot.
Thanks to its hosting of next year’s football World Cup and the Olympics two years later, Brazil will receive a massive economic and tourism boost and gain worldwide publicity.

In a similar way, the hosting of football Confederations Cup in June helped international tourist income in Brazil reach record levels in the first half of the year. Foreign tourists to the country injected 7 billion reals (US$1.9billion) into the country’s economy, says the Brazilian Tourist Board, Embratur.

Mr Smith says Brazil real estate is very attractive for a number of reasons. “The primary one is the low cost of financing, or at least low by Brazilian standards. Mortgage rates are at least 1.3% a month, and loan payments are generally for just  fifteen years.
Source OPP News

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