SAO PAULO, April 28, 2015 /PRNewswire/ -- Brazil is considered the second best real estate market for investment and in 2015 will attract a record number of foreign investors interested in purchasing property in this country. This is the finding of a recent analysis completed by Vitacon, a leading Brazilian builder.
According to this study, undertaken by the company's market intelligence department, the current Brazilian economy creates a scenario that is attractive for foreign investors. "One of the favorable elements is the high value of the US Dollar compared to the Real. With the exchange rate reaching a high of R$ 3,20/US$, the purchasing power of foreigners has increased quite significantly" said Vitacon CEO Alexandre Lafer Frankel.
Frankel explained that following years of increases, property prices in Sao Paulo, the nation's financial center, have stabilized because the country is in an economic slowdown. Nevertheless, they are expected to pick up and continue to increase in the coming years. "Several foreign investment funds have contacted us and expressed an interest in our launches, as they believe that, given the economic situation, this is the ideal time to invest in Brazil" said the CEO.
With a view to meeting this demand, Vitacon created a dedicated sales team that specializes in serving foreign investors. This is an end-to-end support service that provides the necessary information to those not familiar with the best areas to invest.
One-bedroom apartments on a high
The Vitacon study shows that investors prefer one-bedroom apartments located in the high-end neighborhoods of Sao Paulo, such as Vila Olimpia, Itaim Bibi and Jardins. There is an explanation for this, as in 2014 so-called "compact" apartments accounted for 28% of the volume sold, a record in terms of the share of this type of property.
According to the statistics, it is clear that the sale of this type of property has grown steadily since 2007. Seven years ago, one-bedroom apartments accounted for only 2% of total sales. Today they account for 28%, and their share should increase even more, especially in 2015.
"Some years ago Brazilians invaded Florida in search of real estate. Now it's the turn of investors in the US to take advantage of the good opportunities offered by our growing market" added Frankel.
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