Up and coming Brazil
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Up and coming Brazil
Up and coming Brazil - 5 August 2007 - Home Move NewsWith its growing economy, Brazil the 5th largest country in the world, is benefiting from a significant expansion of tourism-related property investment.
In 2006, property lending doubled in Brazil and the construction industry is thriving and recently local banks did not offer broad lending to customers but with the stabilisation of Brazil's economy, they have recognised the opportunity for investment.
An additional 8 million homes are needed throughout Brazil, but it's not just the residential market that needs to be provided for. Brazil's tourism sector is soaring as the country is experiencing a large amount of visitors to the country. A 134% increase in tourist numbers occurred between 2002 and 2005. The government is keen to see this expansion continue to a high of 9 million annually and are investing a great deal into the tourism industry and improving the country's infrastructure.
The bulk of this investment is occurring on the north east coast, in particular, in and around the city of Natal - in the state of Rio Grande do Norte. Budget airlines such as Thomson Fly are already flying from the UK to Natal, with tickets selling between £180 - £400 return. by Kay Murchie
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