Brazil really is a country that is going places.

Overseas property investors are all saying the same thing Brazil Brazil Brazil!

In a presentation in Denver to the National Association for Business Economics, Nobel Prize-winning economist Michael Spence gave several reasons why Brazil’s economy is set to continue to thrive:
• Brazil had no complex securitised financial investments
• They learned lessons from their own financial crisis of 1997/8
• The banks had lent on low ‘loans to value’
• The central bank responded quickly to the credit crunch
• Their economic managers displayed “a high degree of competence
Spence added: “Is this sustainable? Will they [the economy] keep growing? I think the answer is a qualified yes. I wouldn’t have said that 10 years ago.”

According to Wilson Amaral, the chief executive of Gafisa, one of Brazil’s big home builders, the country needs to build a minimum of 1.6 million homes every year just to keep up with the demand of new middle-class Brazilian property buyers entering the market. This is in addition to a housing shortage estimated at 5 million homes.
So, as Brazil’s economy continues to grow, overseas property investors can be reassured by the words of this Nobel prize-winning expert. "Brazil really is a country that is going places".