Brazil 'offers investors fantastic prospects'

International bank transfers to Brazil may increase as property investors look to take advantage of the country's burgeoning housing sector.

Chief executive officer of Housetech Developments Waseem Saddique explained how the nation's prospects "are fantastic".

He claimed those with money to invest have plenty of options, as the economy is "steaming ahead while others are being downgraded".

According to the expert, the Brazilian government has begun "pumping" in the US $78.1 million (£50.6 million) that was pledged to the My House My Life scheme.

This project was launched in 2009 and aimed to build one million homes for low to mid-income families by 2011.

It was introduced as a means of tackling the huge housing deficit in the country, which is estimated to be between seven and ten million homes.

As a result of the My House My Life initiative, millions of pounds are also being spent on improving infrastructure in the country, which will benefit investors, Mr Saddique commented. 

Another reason for the development of road and rail networks is the forthcoming sporting events that are scheduled to take place in Brazil.

In two years, the nation will host the 2014 Fifa World Cup, while the Olympic Games will be held in the country in 2016.

"A boost in tourism along with the attraction of illustrious sporting events ... has seen the need for housing and development rise to staggering heights," Mr Saddique remarked.

Property investment in Brazil has also been given a boost due to the discovery of oil-rich areas off land off the coast of Rio de Janeiro, the specialist stated.

As a result, this has led to the nation being viewed as "a prime hotspot for real estate investment", it was claimed.

Posted by Thomas Smith

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