South America is currently seen as an excellent growth market for property investment and Brazil in particular has been highlighted as having a lot of potential. Brazil is one of the four BRIC countries (Brazil, Russia, India and China).
The BRIC countries have been grouped together as they are all large, developing countries which could be among the world's biggest economies in the future. It has been forecast that by 2050 Brazil could become the world's fifth-largest economy. So when it comes to Brazil property investment could be very profitable in the long term.
The Brazilian Tourist Board is currently investing heavily in infrastructure improvements, including the improvement and expansion of airports. The country will be the host of the 2014 World Cup and the 2016 Olympic Games.
These events have brought about a sizeable increase in infrastructure investment and development. There has also been an increase in tourist numbers in Brazil as it is seen as a safe, mainstream holiday destination with a favorable climate.
Foreign investment in property in Brazil is actively encouraged. Indeed, there is no limit to the percentage of land and buildings that can be owned by overseas investors. By contrast, many other countries impose limits on the percentage of real estate which can be owned by foreign investors.
Brazil has traditionally low vacancy rates in commercial (office and retail) and apartment buildings. The cost of living is substantially lower than it is in, for example, the United Kingdom. It is expected that as tourism and other economic activities grow, there will be an increase in demand for residential properties. So for anyone interested in Brazil property investment is a good option.
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