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Brazil recommended to overseas property buyers

Brazil recommended to overseas property buyers

Real estate investors who are looking to transfer money online to buy a foreign property have been pointed towards Brazil.

According to Paul Collins, editor at the BuyAssociation, lots of projects have commenced in the South American country over the last few years, many of which are now close to being completed.

Since these will soon be ready to occupy, he believes they offer opportunities for overseas property buyers to collect returns on their investment in a short space of time

"Brazil's property market looks to be in very good shape as we move into 2012 and most of this is down to the success of the economy in weathering the worst of the global economic downturn in recent years," Mr Collins commented.

Indeed, he noted that the country has now established itself as the world's sixth-largest economy and overtaken the UK in the process.

Conditions in Brazil are also being improved by the fact the population is becoming increasingly wealthy. Mr Collins said the minimum wage of people living in the country went up by over ten per cent last year, which means many will have more disposable income.

"This will allow ordinary Brazilians to live better and consume more, further driving the economy forward," he commented.

Mr Collins predicted that this would in turn lead to renewed infrastructure investment across the country, thereby helping to turn it into one of the world's most stable investment environments. Therefore, anyone who transfers money to Brazil in order to purchase a property can be fairly confident about its long-term prospects.

The country is also attracting lots of global attention and enjoying increased investment in its infrastructure due to the fact the Fifa World Cup is being staged there in 2014. Brazil will be under the international spotlight again two years later, when Rio de Janeiro hosts the Olympic Games.

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