Brazil attracts foreign investors with the news that the country’s middle class has grown to include 91 million people.
Brazil’s middle class now represents 49% percent of the population and accounts for 46% of the national income, according to a report by the Getulio Vargas Foundation. The number of middle class people in the country has grown by 42% since 2003, when the number was 64 million.
The shortage of low-cost housing in the country is well publicised, but the growth of the middle class is also creating a demand for higher quality property. “What was seen as up-market apartment ten to fifteen years ago, currently is the basic requirement of a middle-class apartments” experts say.
Second homes are also becoming increasingly popular among Brazilians “The Brazilian middle class are applying their savings to a second home in order to have a second income.” experts say.
The rising Brazilian demand provides foreign investors with an exit strategy. That’s why foreign investors are also so interested in Brazil.
Developers can sell more quickly to investors at below-market values and move onto to developing more projects.
Because buyers have been bruised in the past, many are going in with lower level investments, but a higher volume of units than last year has been sold so far, as investors are buying as many as four apartments in one go.
We are focusing on property in the northeast of the country, partly due to its tourist appeal to both domestic and foreign buyers.
Although the area has traditionally been poorer, a disproportionate number of people are moving from low to middle-income groups, so the area has got very high growth potential and there’s more space to develop in somewhere like Natal than in Rio.
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