Recent government measures have given the Brazilian property market a boost, particularly for demand. In some parts of the country, for example, Fortaleza, the market is already moving upwards with a rise in property prices.
As any savvy investor knows, the ideal time to purchase an asset is when prices are low. With currency exchange rates at their most favourable for foreigners in a long time, Brazilian property stands at its most attractive. So argue experts from the Brazilian property sector and – judging by record lending figures for April – so do Brazilian buyers.
With a low inventory, pent-up demand and record levels of new mortgages, property in Ceará, northeast Brazil stands out in the Brazilian property market. Market conditions are so buoyant in the state that Ceará property is known as an “oasis”.
The figures just released for employment and property in northeast Brazil highlight that both markets are booming and well ahead of those at national level. The state of Ceará was one of the centres for job creation as well as a hot spot for property.
After an unusual 12 months, the Brazilian property market is set for a good 2015 characterised by marked increases in mortgage lending and greater sales activity. Government investment in the social housing programme, strong job creation and the Rio de Janeiro Olympics on the horizon are three of the main factors that will be driving the market next year.
At the year comes to a close, all signs point to an excellent year for property in Fortaleza. Fuelled by robust demand and keen interest from buyers, more strong activity in all property sectors is forecast for 2015.
On the back of solid demand from society and increased mortgage lending, there’s plenty of room for growth in the Brazilian property sector. With the total home loans to rise by 10 per cent next year, 2015 looks set to see further consolidation in the market.
Latest statistics for Brazilian property show signs of stable price growth throughout the country. In terms of mortgage lending, September’s figures are the best for 20 years, particularly in the state of Ceará, northeast Brazil, where home loans have increased by nearly 40 per cent this year.
Brazil has a relatively young mortgage market, but it’s one that is growing fast as purchasing power among Brazilians increases and more banks offer financing for property purchase. One area that forms a focal point for Brazilian banks offering mortgages is Ceará in the northeast of the country.
Brazil is currently carrying out one of the largest affordable housing programmes in the world. The next phase (3 million additional properties) will further boost the property market in the country as well as creating employment and advancing economic growth.