Oct. 13, 2008 -
PRLog -- Brazil property should remain very strong despite the slowdown in growth expected in 2009. Emerging markets will not be immune from the global credit crisis and countries like Brazil are expected to see considerable downturn in growth. According to the latest assessment by the International Monetary Fund growth in Brazil, which has been a strong 5 to 6%, is now expected to be 3.5% in 2009.This is likely to have a major impact on its growing property market but the IMF analysts do not expect a collapse as Brazil has strong economic fundamentals.’
No country is immune. Six months ago some analysts were claiming that emerging countries would be immune from the financial crisis. We did not believe these arguments and we have always said no part of the world was immune,' said Dominique Strauss-Khan from IMF. 'Brazil is an economy in good shape. But even in good shape, the effect of the downturn in global growth will have consequences,' he said. He added that for some countries 3.5% growth would be a success but for Brazil it represents a major decline. Growth in 2009 for advanced economies is predicted at zero so 100% of world growth will come from emerging markets. The IMF also expects recovery to start at the end of 2009.
However International Hot Property does not believe that the property market in Brazil will suffer long term. 'Northeast Brazil in particular has an aggressive and sustainable real estate environment with a local and International base of property owners,' said Simon Jones, market analyst at
http://www.internationalhotproperty.co.uk/. ‘There may be a decreased demand from the International sector in 2009 but the long term fundamental’
s are very strong and Brazil represents excellent value’.
According to Simon Jones ‘International Hot Property are unique as International property brokers as they have people on the ground in Brazil who understand the market and market trends and the different areas such as Natal & Joao Pessoa and where investors would get the better value’
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