Brazil investors set to score?

A major sporting event in 2014 could be the icing on the cake for Brazil's booming economy...

Carlos Navies Guimaraes, chairman of the board at Invest Tur, stated: “The country is likely to enjoy numerous economic benefits as a result of hosting the tournament, including an acceleration of growth in the Brazilian tourism industry - a development which could boost its buy-to-let sector.

”During the next few years, towns and cities would receive greater investment in local infrastructure. This could potentially push up property values as it would lead to these places being considered more desirable by prospective buyers”.

Economy on the rise

2014 is a long way off, but in In the meantime, things are looking up. Thomas O'Connor, co-head of the new Latin America Real Estate Group of U.S.-based law firm Cooley Godward Kronish believes that Brazil's economy will rise and rise in 2008: “The economy is expected to grow between 5.0 percent and 5.5 percent this year, as Finance Minister Guido Mantega reiterated last week.

“That follows GDP growth of 5.4 percent last year - the best result in three years and above the Latin American average of 5.0 percent. Meanwhile, foreign direct investment reached a whopping $34.6 billion last year, nearly double the $18.8 billion registered in 2006.

“Real estate is among the sectors that have been driving strong economic growth and it will likely continue to do so again this year. Overall, There's a middle-class boom and Brazil is extremely strong at the moment”.