Eager to capitalize on growing interest in Brazil’s real estate, the government has expanded the organization focused on tourism and property investment, newly named ADIT Brasil. Historically a preferred destination for lifestyle buyers, Brazil is positioning itself for development as it prepares to take the global stage as host of the World Cup and Olympics. See the following article from Property Wire for more on this.
Brazil is seeing a shift from lifestyle property buying to investors seeking a purchase that it likely to rise in value as the country hosts the football world cup in 2014 and the Olympics in 2016, it is claimed.
Once the secret of a select few adventurous holiday home buyers attracted by the year round sunshine, deserted beaches and party atmosphere, Brazil is now topping the list for serious property investors who wish to cash in on the boom, according to Brazil real estate specialists uv10.
‘Initially our client base was rather lifestyle heavy, but we’re now handling more and more pure investors. They can envision the impact of the 2014 FIFA World Cup and the 2016 Rio Olympics, not to mention the burgeoning middle classes and the recent introduction of mortgages for Brazilians,’ said uv10 sales manager Samantha Gore.
‘We’re here to advise on the best areas to invest in at any given time and right now land values in parts of Brazil are soaring. With available plots starting from 54,705 Brazilian Reais, around £20,000, for a little over 500 square meters they represent excellent value,’ she added.
The Brazilian government is also putting more effort into attracting foreign real estate investors. ADIT, the Association for inward investment in real estate and tourism, has announced that it is widening its influence to cover the 27 states of the whole of Brazil and not just the nine states of the Northeast region.
As a result is name has been changed from ADIT Nordeste to ADIT Brasil and it will also broaden its fields of activity to include residential and commercial property based investments, hospitality, real estate tourism and logistics.
The organization will also strengthen its presence in the environmental sector, with the aim of creating legal security to advance real estate and tourism developments across the country.
The announcement comes exactly four years after the Government funded Association was founded. It was formed in June 2006 in order to drive forward the Northeast’s tourism and real estate development. Before then, there was no official body representing the interests of these sectors.
ADIT Brasil attracts foreign direct investment in land and real estate projects by introducing the most reputable Brazilian developers, architects, lawyers and related businesses to international investors including hoteliers and resort groups and encouraging the formation of working partnerships.
The association holds an annual conference, exhibition and business networking event called Brasil Invest (formerly known as Nordeste Invest). The event has become a milestone in the industry. Its fifth conference in May 2010 in Natal it attracted more international investors than ever before. Some 120 foreign investors attended and met with Brazilian companies in the real estate and tourism sectors, with parties agreeing an anticipated R$ 1.8 billion of business.
This article has been republished from Property Wire. You can also view this article at Property Wire, an international real estate news site.