Citi Private Bank’s 2009 Wealth Report has recommended Brazil as one of its top 10 global real estate investments despite the global economic slowdown. Brazil was the only “emerging market” real estate investment recommended, amongst distressed UK and US and traditional European markets.
Nicholas Barnes, head of international residential research at Knight Frank stated “Although Brazil is a popular tourist destination, it remains in the emerging market category for second-home buyers. There are few developments of quality, though several are planned. Average prices are low – resorts along the northeast coast average $1900 per square meter for apartments.”
Tags: Real Estate
