Brazil. Real estate is attracting more and more foreign investors
21 July 2017
Due to political uncertainties and the economic crisis affecting the country, real estate prices have fallen by 20%. And it's not over, experts assure.
Since the end of 2015, Brazil has been attracting renewed interest from foreign investors. According to the Rio Times, "because of the exchange rate and the weak Brazilian economy", the country is an attractive option for many of them.
At a conference organized on 12 April by the daily "Estado de São Paulo", experts and representatives of international companies spoke a lot about real estate. For Daniel Maranhão, member of the firm of experts Grant Thornton, "the devaluation of the real is, along with the current political factors, one of the reasons why Brazil is today an attractive option."
The large number of properties available as well as the possibility of acquiring them at low prices make the country a kind of Eldorado. "Brazil is very disturbed by its poor economic performance and the political uncertainty in which it finds itself. This kind of situation creates opportunities, "adds Kenneth Caplan, director of investment for Blackstone.
By 2015, real estate prices have fallen by nearly 20%. A decrease likely to continue until 2017.