Anyone looking to invest in real estate in Brazil will no doubt be pleased that the South American country has made it into the top five places to own property.
That is according to The Move Channel’s latest so-called Top of the Props report, which highlights which countries buyers are showing interest in buying properties in.
The website suggested that while interest in the country has always been strong, even greater demand has been fueled by the World Cup, which will be hosted there in 2014. The fact that the Olympics is due to take place in Rio de Janeiro in 2016 has no doubt helped too.
Unlike some countries in the top five whose popularity has wavered, Brazil has remained resolutely popular with buyers.
The fact that it still only accounts for 4.5 per cent of inquiries, compared to first placed the United States which made up 20.92 per cent, means there are still plenty of buying opportunities there.
Dan Johnson, director of The Move Channel, suggested that there is a trend for greater diversification in terms of the countries that people are considering investing in.
“Buyers are increasingly moving away from a core set of familiar markets to invest in further flung destinations.”
He said that since 2012, when Brazil first entered the top five most popular destinations, the country has now “established itself as a buyer favourite”.
Mr Johnson suggested that a combination of “soaring real estate values and upcoming tournaments make it ripe for investment”.
The FipeZAP Index, which tracks property prices in Brazil, has shown that there is definitely a boom in the country as the values of bricks and mortar have risen by a staggering 200 per cent since 2008.
That figure rises to an eye-watering 230 per cent if you look at the cost of houses in Rio de Janeiro, suggesting there may be some stock in the idea that the Olympics is helping to fuel interest.
In comparison, Sao Paulo property prices have risen by a relatively modest – but still considerable – 188 per cent.
