Brazil (Federative Republic of Brazil)is becoming an increasingly popular destination for real estate and property investment amongst the British, according to an industry expert.
Resort Group International, an impartial advice service for those wanting to buy, rent or resell property overseas, has said that investors in Brazil will get a good return on their investment (ROI).
Lawrie Smith, accounts manager at Resort Group International, said: "Brazil is never likely to be as popular as France and Spain because of the geography, but as far as long-haul destinations go, it will probably be one of the most popular resorts."
Mr Smith explained that Brazil is a similar distance from Europe as popular investment destinations, such as Florida and the Caribbean, but that property is significantly cheaper in South America.
Brazil's economy is in good shape according to a report entitled 'Foreign Investment in Latin America and the Caribbean, 2007', published by the Economic Commission for Latin America and the Caribbean (ECLAC).
The report states that Latin America and the Caribbean received a record figure of almost $106 billion in Foreign Direct Investment (FDI) in 2007, due to regional economic growth and sustained global demand for natural resources.
Brazil's GDP (PPP and Nominal) is the highest of Latin America with large and developed agricultural, mining, manufacturing and service sectors, as well as a large labor pool. The country has been expanding its presence in international financial and commodities markets, and is regarded as one of the group of four emerging economies called BRIC.
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