Property in Brazil can be "an investment"

Purchasing property in Brazil can work "as an investment", it has been claimed.

General manager of the Embassy of Brazil's Tourist Office Tom Falcao stated many Brits are buying second homes in the north-east and further down in the south of the Latin American country.

Some are using the accommodation as a place to retire to or move to altogether, he continued, but there are many who rent it out to holidaymakers.

Brazil was recently confirmed by the United Nations as the most popular tourist destination in South America of 2008 and Mr Falcao explained the appeal of the country is the sun and beaches.

People who want to purchase a property in Brazil – perhaps by using an international money transfer system – could find they have a second income if they let it out as accommodation for travellers.

According to Halifax, the foreign exchange rate meant sterling could purchase 15 per cent more Brazilian real in December 2008 than six months earlier.

This could make the destination a more affordable place to invest in property compared to countries inside the eurozone.