Brazilian property investment 'to increase ahead of 2016 Games'

International bank transfers may become more commonplace in the run up to the 2016 Olympics in Brazil as people look to invest in property in the country.

Mark Sharp, chief executive officer of the Association of International Property Professionals (AIPP), described how there could be a rise in the number of individuals entering the housing market in Rio de Janeiro.

He explained that other cities across the globe that have hosted similar high-profile sporting events have seen interest in property increase.

It was noted that the USA saw housing prices rise by as much as 25 per cent, while some London boroughs have seen sale costs increase by 28 per cent ahead of the 2012 Games.

"Experience from around the world tends to show that, on the whole, big tournaments have a positive effect on property prices," Mr Sharp commented.

However, he added that it is "difficult to say" if this will be the case in Rio de Janeiro as there is "no guarantee".

According to Mr Sharp, other factors have a bearing on how well a country's property market will perform, with the economy playing a key role.

He noted that Brazil is currently "enjoying" a growing economy, which is allowing many middle class residents to afford new homes.

In addition, two new infrastructure projects – the second terminal at Rio's international airport and the new international airport in Natal - have recently been completed and these are likely to encourage more people to travel to the nation.

With Brazil not only set to host the 2016 Olympic Games, but also the 2014 World Cup, more investors than ever may recognise the benefits of making global payments and purchasing property in the country.

Aside from sporting events, Rio de Janeiro boosts a world-famous carnival that takes place each year across the city and attracts thousands of tourists.

Posted by Jennifer Wilkinson

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