It’s also set to continue on that path for at least the same period of time again. At least this is the view of a number of overseas property investment pundits, (including Forbes’s Kenneth Ropoza) who pinpoint Brazil’s so far resilient economic infrastructure in the face of growing international problems.
This optimistic but controversial view is widely shared but not universally so. Nonetheless, proponents believe nearly all the indicators are pointing in the right direction.
Although overall housing prices in the BRIC leader have dipped slightly in recent months the discernable annual trend is still upwards. This is fuelled partly by projected easing inflation plus interest rates heading into single figures. Other important factors impacting on the country’s economy include the oil discoveries off Rio, the forthcoming 2014 FIFA World Cup and of course the Summer Olympics two years later.
All these aspects are set to affect, directly and positively, not only the construction sector in general but crucially, the burgeoning affordable housing market. Central to this Government/Private priority is the Minha Casa Minha Vida scheme and important component, Ecohouse Developments This is, for the first time, providing literally millions of modest income families throughout the country with the chance to own their own home, their own property.
As a background indicator, recently, Brazilian President Dilma Roussef insisted at a briefing for top journalists that despite the international economic climate, the country can weather its problems.
She acknowledged both domestic and global originated difficulties but maintained her view that a growth rate in the national economy of up to five percent was achievable.
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