Brazil real estate not detered by US subprime
Good news for anyone thinking of investing in Brazil, Reuters have reported that property prices have not be influenced by the subprime crisis in the US.
"The global credit crunch sent property prices reeling in developed markets from the United States to Spain, but it appears to have done little to slow the real estate sector in places like Brazil and Russia," the report continued.
Emerging countries are still enjoying growth due to a commodities boom and improved access to mortgage financing, it added.
Meanwhile, it was reported by Bloomberg last month that new homes in Brazil will not be dampened by the country's first interest rate rise in three years.
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