If you’re trying to sell your property in Brazil quick, you’re probably worried about the recent political turmoil in the country, because of the Petrobras corruption scandal.
Dilma Rouseff was ousted as the President of Brazil following an impeachment by the Brazilian parliament. The new President of Brazil, Michel Temer, does not enjoy the same level of popular support. As a result, Brazil can be said to be in a state of political paralysis, because of which no major decision can be taken.
Even so, there are a number of reasons to be excited about the real estate market in Brazil. It does seem that the real estate industry in Brazil is getting its act together. Tourism in Brazil has been on a high in 2016, despite the Zika scare, as a lot of people have made their way to Rio de Janeiro in preparation for the Olympics.
The 2016 Olympics in Rio was a successful one, despite the number of problems faced by the organizers. It has certainly increased Brazil’s stature internationally, made it one of the most talked about countries in the world.
In fact, tourism in Brazil has risen sharply this year. The number of Britons visiting Brazil was up by 27% in 2016. Brazil’s Ministry of Tourism said that 6.4 million foreign tourists have visited Brazil over the last 12 months. 450,000 made their way to the country, especially for the Olympics.
This certainly has a positive effect on the property market. Internationally, the overseas property market is closely related to tourism, and Brazil’s strong performance as a tourist destination is good news for sure for those with property for sale in Brazil.
It has also helped that the Brazilian Real has declined substantially against the US dollar. A Brazilian Real is currently worth $0.31 USD, this represents a substantial fall compared to 2010.
This is actually good news for foreign investors who are interested in buying properties in Brazil. They now have significantly higher buying power and can afford to pick and choose among the options that are available to them.
There has never been a better time to invest in Brazil, primarily because it does seem that the market has largely bottomed out. The economic recovery is well and truly on and things are generally looking up in Brazil. This is a great time for investors to get their feet wet in the country. The potential upside to buying properties in Brazil are enormous.
The fact of the matter is Brazil is one of the world’s biggest economies and has a number of new real estate developments coming up. The excitement of the Rio 2016 Olympics is there even today, months after the conclusion of the games.
There are a lot of opportunities available in Brazil for savvy investors. It’s a fast expanding market, so there’s a lot of potential for growth. For sure, there is a cloud over Brazil because of the nature of the country’s politics, that’s not going to go anywhere soon. But as far as the overall economy is concerned, things are looking good.