Brazil makes top ten overseas property locations
Copacabana beach in Rio de Janeiro
Wednesday, 21, Feb 2007 09:16
Brazil has made it into the top ten overseas property locations, a foreign exchange specialist reveals.
South America's biggest country was the ninth most popular investment location for Brits buying homes abroad, according to Currencies Direct.
The company's monthly Global Emerging Markets Index reveals Turkey took the top-spot for overseas property buyers investing in emerging markets, followed by Bulgaria and Dubai.
Also in the top ten was Thailand in fourth place, followed by the Czech Republic, India, the UAE and Poland. Cape Verde was in tenth place.
"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," commented Mark O'Sullivan, head of trading at Currencies Direct.
"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."
Currencies Direct notes Brazil has large and well-developed agricultural, mining, manufacturing and service industries, a large labour pool, and is the richest in Latin American country.
Brazil has had steady growth in recent years, the company says, which along with its diverse landscape, rich culture, idyllic climate and an affordable cost of living make it an attractive investment opportunity for British buyers.