Brazil emerges as a property hotspot among the top places for British property investors, according to a new study
Brazil emerges as a property hotspot
21/02/2007 16:49
Brazil is among the top places for British property investors, according to a new study.
The South American country makes its debut in Currencies Direct's monthly Global Emerging Markets Index, charting at number nine.
Drawing on the number of foreign exchange transfers recorded in the respective countries, Currencies Direct's survey is designed to offer a snapshot of some of the movers and shakers in the overseas market.
Brazil's developing mining and service sectors have helped bolster its GDP, while it also offers a large labour pool in a country of over 185 million people.
Add to the fact the cost of living is just 20 per cent of the UK's and the attraction for investors is clear.
However, Mark O’Sullivan, head of trading at Currencies Direct, said it was worth being cautious when considering the attractions of Brazil.
"Brazil should still be considered a developing nation and with this definition come many positives and negatives that buyers should be aware of before making an investment,” he said.
"Social problems such as poverty, human trafficking and governmental corruption, might put buyers off. However, its tropical climate, dramatic scenery, upbeat culture and potential annual occupancy rates of about 30 weeks, present plenty of reasons to buy property in Brazil."
At number one in the list is Turkey, remaining as the top property hotspot, while Bulgaria climbs to number two and Dubai falls to third.
|
