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Posted On: 07/10/2009
Property prices in Brazil are set to grow massively in the next two years as people compete to buy properties near Stadiums due to host games in the World Cup. Rio de Janeiro is set to receive a further growth spurt in the run up to its hosting the Olympics, according to Azure Overseas.
Director Frank Crowley said:
"The potential to make money from a property near the stadiums during World Cup 2014 knows almost no bounds, and people know it. They have been Tweeting (posting on Twitter) about their tears that they didn't buy a property in Brazil before it won the honour of hosting the events. Starting from now there will be competition to buy properties near the stadiums, and as these become priced out of people's budgets then the ring will extend further and further out from the stadiums."
Brazil has among the best short, mid and long term potential for property price growth in the world anyway, because of low property prices combined with massive potential for economic growth. Economists predict that Brazil will be the fifth largest economy in the world within 10 years and tourism is growing massively, and property prices are among the lowest in the developed world.
This will increase the number of people who decide to take the plunge based on the bonus of rental madness at the world biggest sporting events.
Of course many people will simply buy for self use, with the fact that it's cheap accommodation to watch the world cup games as the final thing propelling their decision to buy. Let's face it, if a team stays in to the latter stages it is a fortune spent in accommodation, so buying a property is a no brainer given the growth and rental yields in following years.
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