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Overseas property buyers 'drawn to Brazil'

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Overseas property buyers 'drawn to Brazil'

Brazil is becoming increasingly popular with overseas property buyers, experts have noted.

According to The Move Channel, more and more people are looking to invest in real estate in the South American nation.

Dan Johnson, managing director of the group, said many of these are lifestyle buyers who are keen to purchase a holiday home.

Indeed, he noted that in the last few months, he has seen "quite a lot of interest" in Brazil among this particular group.

Mr Johnson said the country is attracting lots of attention at the moment because it is gearing up to host the World Cup in 2014. As a result, visitor numbers should be set to increase significantly, while it will be subject to an unprecedented amount of media coverage.

Furthermore, Mr Johnson stated that Brazil's economy is relatively strong when compared to many other nations around the world.

"That means that it is a clear case that it's moving forward as a country, whereas other countries are moving backwards," he commented.

"In this kind of economic climate, this makes Brazil an attractive destination."

However, Mr Johnson said there has not yet been a significant increase in the number of people looking to relocate to the country on a full-time basis. This suggests that much of the future international money transfer activity between the UK and Brazil will come from investment and holiday home buyers, rather than expatriates.

The World Cup is not the only major event set to be staged in the country in the next few years, as Rio de Janeiro will be the host city for the 2016 Olympic Games.

Both events have prompted authorities to invest in major infrastructure upgrades in order to ensure it is able to handle a significant increase in visitor numbers. These improvements should also benefit the local population and guarantee the sporting events leave behind a positive legacy for Brazil.

This comes shortly after the nation was hailed by Paul Collins of BuyAssociation.co.uk, who said it currently boasts the strongest property market in South America and is therefore a "very good prospect" for overseas property buyers.

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