Overview of Brazilian property market
The Brazilian property market has got a lot going for it. The country is attracting a lot of inward investment, has one of the worldâ€™s fastest growing economies, a rapidly emerging mortgage market, a general shortage of quality homes, and has been selected to host the 2014 football World Cup and 2016 Olympic Games. This will lead to the construction of new and improved infrastructures and homes across Brazil.
Property investors from around the world are flocking to Brazilian shores with a view to snapping up real estate, in anticipation of future capital growth.
One local expect projects Brazil property prices could appreciate by up to 200% over the next decade, driven by the countryâ€™s burgeoning economy, and the pending introduction of mortgages to overseas nationals.
Investment banking firm Goldman Sachs believes that Brazilâ€™s economic growth could outstrip that of the other BRIC (Brazil, Russia, India and China) nations over the next few years.
Moody’s has upgraded Brazil’s sovereign ratings to Baa2 from Baa3 with a continuing positive outlook. This is remarkable considering recent sovereign downgrades across the board.
In 2011, Britain has lost its spot as the world’s sixth largest economy to Brazil.
Brazilâ€™s economy is widely expected to become the fifth largest in the world by the time the Olympic Games kicks off in 2016, and yet property and land prices still remain a fraction of those found in more developed nations. Another stimulus is the fact that in 2014, Brazil will be the soccer capital of the world â€“ host of World Cup in soccer.
Brazilian government has a ?11.5bn project at works for building 3M new homes, which certanly stimulates development of Brazilian property market.
Credit to GDP has been rapidly rising (from around 25 per cent in 2005 to 47 per cent now) but is still a lot lower compared to EU and the US.
Although not in credit bubble, Brazilian consumer loan burden is ovestreched. However, real estate lending represented only 8.3 per cent of total loans.
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