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Brits go nuts for Brazil - 13 March 2007

Growing numbers of British overseas property buyers are looking to Brazil for investment opportunities, reports Currencies Direct...

Growing numbers of British overseas property buyers are looking to Brazil for investment opportunities, with the South American nation making its first appearance in Currencies Direct’s monthly Global Emerging Markets Index. The Index is based on the number of foreign exchange transfers undertaken by Currencies Direct to emerging market regions in any given month.

Possessing large and well-developed agricultural, mining, manufacturing and service sectors, as well as a large labour pool, Brazil’s GDP outweighs that of any other Latin American country. This solid platform has helped the nation enjoy steady growth in recent years, and make Brazil an attractive proposition for British buyers that recognise the opportunities presented by its diverse landscape, rich culture, idyllic climate and an affordable cost of living at just 20 per cent of the UK’s.

“Brazil should still be considered a developing nation and with this definition come many positives and negatives that buyers should be aware of before making an investment,” comments Mark O’Sullivan, head of trading at Currencies Direct. “Social problems such as poverty, human trafficking and governmental corruption, might put buyers off. However, its tropical climate, dramatic scenery, upbeat culture and potential annual occupancy rates of about 30 weeks, present plenty of reasons to buy property in Brazil.”

This month's emerging top ten

The table below outlines this month’s top ten emerging property hot spots:

Position Country

1 Turkey

2 Bulgaria

3 Dubai

4 Thailand

5 Czech Republic

6 India

7 UAE

8 Poland

9 Brazil

10 Cape Verde

O’Sullivan continues, “Tourism is a growing industry in Brazil, increasing by 30 per cent in the last year alone, and the property market is not far behind. The buying process is also relatively pain-free – a rarity for an emerging market nation. Hot spots include Rio de Janeiro, which is a good bet for tourist lets, and São Paulo, which provides good opportunities for business lets. However shrewder buyers are seeking out properties in northern resorts – where spectacular white beaches and increasing capital growth make for good returns on investment.”

The Index excludes established overseas property markets such as Spain, France and the US. The majority of the Currencies Direct transfers are made by UK residents looking to emigrate or purchase property abroad.

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