Print

Cash bonanza boosts Brazil

Foreign buyers have invested a staggering amount of money in Brazil over the last year...

According to a study by renowned University for economics, Fundação Getúlio Vargas (FGV), non-residents have invested a whopping US$646 million in Brazilian property Since 2007. The study revealed the following:

- Those living in the United States invested US$102 million.

- Residents in Spain spent US$82 million.

- Italian residents spent US$63 million.

- A total of US$450 million came from European countries.

According to the survey, which was commissioned by EMBRATUR, a division of the Ministry of Tourism, 79% of investors already knew the country. The majority (76%) identifies the beach and the sun as the main attractions to invest in Brazil.

Felipe Cavalcante, president of ADIT Nordeste, commented: "It is immensely helpful to know the profile of these investors. This will allow our country to set public policy for the segment.

"The Northeast is a region of great attraction for foreigners. Business done at Nordeste Invest this year alone is expected to bring in over R$2.4 billion of investment".