Weak currency gives boost to Brazilian property

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Overseas property buyers are expected to flock to Brazil as property prices in the country are particularly attractive, with other currencies come out on top against the Real.

According to Samantha Gore, uv10’s sales manager, when compared to June last year, the currency of Brazil has dropped 28% against the pound.

She continued to note that the U.S. Dollar is at its strongest in two and a half years, while the Euro has reached a two-and-half-year high against the Real.

With a number of currencies dominating the Brazilian Real at the moment, the property market in Brazil is set to be very attractive as property buyers will want to take advantage of cheaper property.

Brazil’s short-term future is receiving an optimistic outlook from falling interest rates and upcoming events.

Gore said: “The middle class continues to grow, fuelling demand for property and keeping prices on an upward trajectory, at least for a few more years.

She added: “Benchmark interest rates have just been lowered to 9%, which is great news for local buyers eyeing a mortgage and developers seeking finance for new projects.”

Guido Mantega, Brazil’s Finance Minister, has said that he believes the demand for Brazilian products will receive a boost from the drop in the Real’s value.

He said: “The weak Real is beneficial for the Brazilian economy because it makes Brazilian products more competitive.”

Transferring money to Brazil

If you are looking to invest in Brazil, think carefully about how you will be transferring money to Brazil. Foreign currency exchange rates quoted by banks are almost always worse than 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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