With Brazil at record-low interest rates, Latin America’s biggest economy is now attracting more investors than ever before. A 5% cut in interest rates to 8.75%, and a 34bn R$ (US$18bn) housing stimulus plan announced by the government in March have boosted demand for residential and commercial real estate investments said Thomas Macdonald of Equity Internationl.
“Brazil is the number one country in the world for investments” said billionaire Equity International owner Sam Zell in a CNBC interview on July 28th. Equity International has stakes in Gafisa, Brazil’s second largest real estate developer, as well as a 17% stake in BR Malls, Brazil’s biggest owner of shopping malls. Equity International now hope to open a real estate financing company to grow Brazil’s “still nascent” real estate financing market. The real estate investment company hasn’t found a partner yet to being operations and still may open its own company. Full story at Bloomberg.
Tags: Brazil, Economy, mortgages, Real Estate
