Brazilian property investment yields 'a decent return'

Homeowners concerned about the downturn in the UK housing market should look to invest abroad, an industry expert has advised.

Resort Group International, a company that provides impartial advice on buying, renting and reselling property overseas, has suggested that buying property in Brazil could yield "decent return".

Lawrie Smith, accounts manager at Resort Group International, explained how even those without the cash to buy a second property abroad could make the most of the opportunity.

Mr Smith said: "Our argument is why have the property in the UK which is not going up in value, and in some cases going down in value, when you could take a small amount of that equity out and put it into a property abroad, especially Brazil, and get a decent return on your investment."
According to Mr Smith, investing in the strengthening Brazilian economy makes sense. The boom in the economy means that people have got more money to invest in second properties, securing the return on an investment there.

A report published last week by the Economic Commission for Latin America and the Caribbean (ECLAC) states that Latin America received a record amount of Foreign Direct Investment (FDI) in 2007.

Overseas Property News posted on 19/05/2008 16:33:10