Categorized | International

Sao Paulo Real Estate Market Shows Strong Gains

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The real estate markets of Brazil’s biggest cities continue to grow at unprecedented levels. Recent reports show that the market in Sao Paulo has jumped more than fourteen percent in the past year, and will likely continue to rise in the coming months.

Other major cities such as Rio de Janeiro and Porto Alegre also experienced gains of more than ten percent in their respective real estate markets. Both prices and sales in all three cities have risen during the last year.

There are a number of factors contributing to the growth in pricing and sales of residential properties in Brazil. The country is in the middle of an economic boom. Unemployment in the country is at a record-low level, and credit continues to become more readily available. Various government initiatives aimed at improving homeownership prospects for low-income families have also contributed to growing home sales.

Prices have risen almost eighty-five percent in some areas over the last 2 and half years. Prices show no sign of leveling off in the near future, which leads some to wonder if a bubble is rapidly forming. However, officials and homeowners alike are not overly concerned about that possibility, as the economy remains strong, and shows no signs of slowing down.

Brazil is one of a few countries that continue to thrive despite threats of a global economic crisis. The Brazilian economy has shown remarkable growth over the past few years, and as such, its residential real estate market has followed suit. Many Brazilian investors are also looking outside Brazil to invest in property, with Miami being a key target location.

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About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

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