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Overseas Property News
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Brazil cut interest rates
Country: Brazil
26 January 2009
The central bank in Brazil has potentially lowered the cost of borrowing money to buy property in Brazil by cutting its benchmark interest rates by 1% to 12.75%, its first rate cut in 16 months.
The bank’s move is seen as an attempt to protect the country’s economy, which has weakened in recent months, from the global financial crisis.
The cut in interest rate could also see Brazil’s currency, the real, which has already tumbled more than one-third from its nine-year high in May 2008, weaken against sterling, reducing the cost of buying a home in Brazil, for Brits'.
With the interest rate cut - a moved allowed by falling inflation - the central bank hopes the £1.4 trillion economy can keep pace with President Lula’s 2% economic growth target for 2009, a small figure compared to the 6.8% expansion registered by the Brazilian economy Q3 2008, Bloomberg reported.
Inflation cooled to 5.9% in December, falling within the bank’s target of 2.5% to 6.5%.
“We have a good macroeconomic situation to cut interest rates,” Alexandre Lintz, chief economist at Banco BNP Paribas Brasil SA, told Bloomberg.
Some properties in Brazil
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Price: £17,000
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Type: Apartment
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Bedrooms: 2
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A unique opportunity to invest at developer level in Natal, North East Brazil - something usually only available to large joint venture partners and investment funds investing hundreds of thousands of Reals.
220
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Price: £19,860
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Type: Apartment
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Bedrooms: 1
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Brazil is now on schedule to becoming the fifth largest economy in the world by 2050.
Find out how you can make a fortune in the world's largest and most exciting emerging property market.
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Price: £23,000
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Type: New Home
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Bedrooms: 23000
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20% Fixed Return in 12 months or less. * Full UK Escrow account to protect the clients investment * Waiting list of 25,000 buyers in place * Government backed scheme, MCMV * Just £23,000 to invest * First Phase units, 90% complete220
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Price: £31,813
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Type: Villa
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A Land investment opportunity in a 5 Star Resort in Brazil,host of 2014 World Cup and 2016 Olympics.
For a limited time only, a promotion is being run on plots within the "Miami" Sector of Tambaba Country Club Resort.
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Price: £33,302
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Type: Apartment
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The Spring of 2010 will see a World Class Resort launched in the world's largest and most exciting emerging market, Brazil.
We would like to introduce the ambitious, and long awaited, Pipa Natureza.
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View details | Enquire further
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Price: £33,302
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Type: Apartment
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The Spring of 2010 will see a World Class Resort launched in the world's largest and most exciting emerging market, Brazil.
We would like to introduce the ambitious, and long awaited, Pipa Natureza.
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View details | Enquire further
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Price: £33,635
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Type: Apartment
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Bedrooms: 1
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The Spring of 2010 will see a World Class Resort launched in the world’s largest and most exciting emerging market, Brazil.
We would like to introduce the ambitious, and long awaited, Pipa Natureza.
220
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View details | Enquire further
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Price: £38,000
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Type: Apartment
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Bedrooms: 3
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Minha Vida, Minha Casa (My Home, My Life) is the largest housing program the world has ever seen with the Brazilian government committing over R$ 34 billion to build more than 1 million homes. The waiting list already exceeds220
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Price: £40,704
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Type: New Home
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"There is no argument - emerging markets win hands down." Emerging markets such as Brazil are "the future and where the future growth in profits and earnings will come from." [Property guru and billionaire, Sam Zell]220
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