BRAZIL


SPORTING PROPERTIES


The UK and Brazil is trying to cultivate business relationships. British homebuyers want a slice of the real estate action. RUPERT BATES reports.


Anglo-Brazilian relations are being fostered at a trade level, with UK Business Secretary Vince Cable having recently returned from visiting the South American economic giant. There are big investment opportunities for British property buyers too. The figures are compelling and the intent clear, coupled


with the opportunities provided by an Olympic handover with London 2012 passing the baton on to Rio 2016. UK exports to Brazil have doubled in the last five years to around £1.7 billion and there has been a huge increase in British business interest in Brazil. The country is expected to be the world’s fourth


largest economy by 2040 and currently has a GDP of £1 trillion and a 2.74 per cent GDP growth rate. “There are fewer people than in India and China and it is not as vast. But Brazil has a more diversified economy, strong agriculture and raw materials as well as manufacturing and services,” said Cable. Felipe Cavalcante (pictured right) is president of ADIT


Brazil, the association for inward investment in Brazilian real estate and tourism. With around 300,000 British visitors expected in Brazil this year, the country is emerging as a genuine world powerhouse. “A Reuters report claims that although the global credit


crunch caused property prices to fall in developed markets such as the US, UK and Spain, it has done little to slow the real estate sector in emerging economies such as Brazil, which is doing well from a commodities


14. Homes Overseas HO .047


boom and increased access to mortgage financing for locals,” said Cavalcante. “Accessibility is also a key to growth. For Brazil to sustain


such growth the government is investing heavily in infrastructure. The state-run Banco do Brasil forecasts that £57 billion is needed to improve the country’s infrastructure over the next decade. New bridges and roads are being built and an increasing number of national and international flights are being added to most airports. Brazil’s winning bids for the football World Cup in 2014 and the 2016 Olympics are contributing substantially,” added Calvacante. The result is more property buyers investing in Brazil. A


study by HVS Consulting & Valuation and Newmark Knight Frank, says by 2014 more than 7,200 new units will be built as second residences in the Northeast region of Brazil alone. ADIT Brasil, (www.aditbrasil.org.br) was created in 2006


to encourage sustainable quality development in tourism and real estate. It now represents all 27 states of Brazil and ensures that foreign investors can find the most reputable Brazilian companies to do business with. Each state has its own identity and attractions, with fresh tourism hot spots, like Natal and Forteleza, now sharing the


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