Could strong Brazilian economy lead to money transfers?

Property moguls may want to look into an international money transfer after hearing how now is the ideal time to invest in Brazil.

Paul Collins, editor at BuyAssociation.co.uk, explained how the country is currently one of the top investment destinations for those looking to buy abroad.

He suggested that for Brits in particular, there is plenty to be gained from owning a property in South America.

"The opportunities for inbound tourism and to rent out anything that you might buy, is very, very strong," Mr Collins stated.

Individuals were advised that the Brazilian government has worked hard to mitigate the effects of the global downturn and, as a result, the economy is "very strong".

Mr Collins commented: "The economy is still growing and by the time they have had the Olympics and World Cup go through the country, it is predicted to be the fifth largest economy in the world."

He added that this reflects the stability of Brazil and should be noted as an impressive achievement for a nation of such size.

The country's Office for Geography and Statistics recently reported that the gross domestic product (GDP) had risen by 1.3 per cent in the first quarter of 2011 compared with the last three months in 2010.

This was a 4.2 per cent yearly increase, with the main highlights being in services (4.0 per cent), industry (3.5 per cent) and agriculture (3.1 per cent).

GDP reached R$ 939.6 billion (£362.7 billion) in the first quarter of 2011.

Property investors who decide to follow Mr Collins' advice and consider purchasing homes in Brazil may require currency exchange services when looking to fund their latest venture.

BuyAssociation.co.uk was founded in 2006 and offers impartial information and independent expert guidance on buying property overseas.

Click here to make an International Money Transfer to Brazil.

Posted by Sarah Pitton