Investment in Brazilian property this year could trump 2010′s success story, according to a new report.
Obelisk International cited a report by the Sao Paulo University Real Estate Department, which found that both residential and commercial sectors are set to enjoy another period of growth over the next 12 months.
“Investors can expect 2011 to be an even better year than last year in terms of demand and prices. [Furthermore] demand and price rises will be higher among the middle classes, and … developers should prioritise investment in the Minha Casa Minha Vida programme,” the source said.
The investigation found that demand for residential property from the upper class (A) is to remain stable, while classes B and C are to expect a slight increase.
Additionally, demand from those in class D and E for properties will “grow significantly”.
Recently, a report from Lloyds TSB International found that those who invest in property overseas are in no hurry to return to the UK, with over two-thirds happy to stay in their new home.
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