Real estate investors who are planning an international money transfer to purchase a property overseas are increasingly looking towards the Brazilian market.
According to the Association of Foreign Investors in Real Estate (AFIRE), Brazil is regarded as one of the top locations in the world when it comes to its capital appreciation potential.
Whereas the South American country stood in fourth place in the overall rankings for this category last year, it has jumped two positions to come second in the new 2012 survey. As a result, China has fallen to third place and only the US now comes ahead of Brazil in the list.
Barbara Knoflach, chairwoman of AFIRE, commented: "Cross-border investors still regard North America and Europe as being the most stable and secure markets, but with foreign investors having a diminished confidence in their recovery, interest is broadening and emerging markets are attracting more notice."
The potential for growth is being partly fuelled by the build-up to two major events in the country over the next few years. Brazil will be hosting the Fifa World Cup in 2014 and the Olympic Games two years later.
This means the South American nation will see lots of infrastructure upgrades to ensure it can cope with the influx of visitors, while the extra international attention could draw even more prospective investors towards locations such as Sao Paulo and Rio de Janeiro.
Brazil was recently recommended to overseas property investors by Emerging Real Estate, which said the country offers "numerous benefits" besides strong capital appreciation rates. For instance, the company said it also boasts relatively low living costs and lifestyle attractions such as "fantastic weather and scenery".