Rising tourism may increase Brazil international mortgage applications

Wed, 21 Dec 2011
A marked rise in tourist numbers to Brazil is likely to result in an escalation in international mortgage applications among people eager to invest in property across the South American nation.

Tim Morgan, partner at Emerging Real Estate, pointed to recent figures released by Expedia, which revealed a 90 per cent increase in demand for holiday bookings to the country throughout 2011.

The industry figure explained such movement serves to bolster the property market because it leads to greater demand for holiday rentals and apartments.

He noted his company has been recommending Brazil as the number one property investment spot, adding: "There are numerous benefits to investing in Brazilian property in addition to the fantastic weather and scenery."

The country's economy is in a stable condition, while the cost of living remains relatively cheap, with householders owning 100 per cent of their land and property.

Mr Morgan's comments come after editor of BuyAssociation Paul Collins recently suggested Brazil could prove popular among international mortgage applicants because it is still seen as an emerging nation and is only just beginning to be discovered by tourists and investors.
 
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