People considering buying property for sale in Brazil have been told that there is no chance of a housing bubble.
Some commentators have expressed concern that in several years the Brazilian property market may go the same way as the US and UK housing market – from boom to bust, but the worries have been dismissed.
“The boom is real. We dont have any bubble and theres not a chance of one because the percentage of GDP (of mortgage debt) is very low and the lower classes have been left out of this market for many years,” Joao Paulo Matos, the director of Carmo e Calcada, a contruction firm, told Reuters.
He added that the upcoming World Cup and Olympics will only add to the demand for affordable housing stock.
A recent survey by the Data Popular Institute has revealed that 9.1 million families in Brazil intend to buy a property within the next year.
The figure is more than double the 4.2 million who said the same in 2009.
Similar Posts:
- Brazilian property offers ‘better opportunities’ than other countries
- Natal’s preparations for 2014 Brazilian World Cup progressing apace
- Brazil meets industrial demand with more Asian diesel imports
- Investors in Brazilian property ‘have plenty to be optimistic about’
- Brazil is an attractive investment for companies
