Brazil‘s real estate market, as of early 2008, was in a buyer’s market because there are more homes on the market than there are buyers. The demand for property is expected to increase by approximately 900,000 units per year. Brazil’s economy is strong, fueled by agriculture and oil exports, and its economy grew by 5.3% in 2007. On Nov. 8, 2007, it was announced that a new oil field–the Tupi oil field–had been discovered 155 miles off the coast of southern Brazil. It is the largest oil field discovery since 2000.
Brazil is the largest and most populous country in South America. It is the fifth largest country in the world.
Population: 191,908,598 (est. July 2008)
Total Area: 8,511,965 sq km
Currency: Brazilian real (rey-ahl), 1 real/$0.60 US
Investment Hot Spots: Rio Grande do Norte, Ceara, Paraiba, Bahia, Sao Paulo, Rio de Janeiro, Sergpipe, Salvador
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Brazil is growing in popularity with foreign tourists, especially North Americans.
- "Brazil Property Investment: More Than Just the Amazon," NuWire Investor.
- The CIA World Factbook.