Brazilian property market tipped to become hub of activity | 4 September 2012
Brazil has been tipped to become one of the world’s most active markets for property investment.
The South American country’s commercial property market has been tipped to become a hub of activity, as the government prepares to host the World Cup in 2014 and The Olympic Games in 2016.
In an interview with uv10.com, investment expert Dean Newman claims that the government have already identified what parts of the country’s infrastructure needs improving.
He said: “The infrastructure projects being implemented for these ‘mega events’ are also part of a Growth Acceleration Programme (PAC) implemented by the Brazilian government.
“Infrastructure spending, which will account for a significant portion of the PAC’s budget of £277 billion, will be directed to increasing energy production, building homes and schools, improving transportation, water and electricity.”
Investment in Brazilian property had been fantastic in the couple of years up to 2010, but the economy as a whole has suffered from a dramatic slowdown in recent years.
Nevertheless, the government has this week announced a range of new measures geared towards stirring the economy back into action, including a cut to interest rates and a number of tax breaks.
Speaking with mizonews.net, finance minister Guido Mantega claimed that the country was holding up well in what was the “worst year” so far of the economic crisis.
Written by Joe Elvin on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.