Brazilian property sector continues to expand as tourist numbers grow

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A significant increase in the amount of foreign tourists heading to Brazil has resulted in property investors fixing their gaze firmly on the South American country.

The latest figures from the Brazilian Ministry of Tourism state that the first half of 2011 saw an 18.8 increase in visitors to the country.

This follows recent market research which described the Brazilian property sector as “vibrant and dynamic”.

The report, by RNCOS, claims that by 2014 demand for housing in the country is expected to have reached 1.8 million units.

A combination of reasons, such as the strength of the Brazilian economy and the upcoming 2014 World Cup and 2016 Olympic Games, have been put forward as the reason for the strong level of growth.

The importance of the climate has also been consistently cited as an example of Brazil being an attractive proposition.

Holidaymakers will always need apartments and the steady climate means it is a tourist hotspot, particularly in the summer months.

The World Cup (Summer 2014) and the Olympic games (Summer 2016) stand out as fantastic opportunities to take advantage of the inevitable tourist influx during those periods.

The country is currently putting in place measures to improve infrastructure dramatically for these two events, offering further encouragement for tourism.

All of the visitors to these two major events are going to need places to stay, meaning the possibilities for making money from renting out properties are obvious and manifold.

Transferring money to Brazil

Are you considering investing in Brazilian property? If so, think carefully about how you will be transferring money to Brazil. Foreign currency exchange rates quoted by banks are consistently not as good as the exchange rates available through specialist currency dealers.

So if you are sending money to Brazil – which you will inevitably have to do if you are looking to make a property investment - be sure to compare the market before you buy your overseas currency.

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Brazilian property sector continues to expand as tourist numbers grow

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