Press release
Brazil Property Price Index on the Horizon
Obelisk International - Brazilian Investments
The Brazilian government has announced the imminent approval of the Brazil Property Price Index. The forthcoming Index is a clear sign that the market for real estate in Brazil is reaching maturity. Developed by the Brazilian Statistics Agency (IBGE), the Index will base its findings on mortgage lending and property market research.
Along with other investors in Brazil, Obelisk International welcomes the new Index. CEO Gary Hardacre believes it will provide greater transparency to the Brazil property market. “Brazilian investment companies also see the Index as an invaluable aid for making investment decisions,” he said.
Clear Objectives
The Index is the first in Brazil and its main aim is to provide accurate and reliable data. To start with, the data will provide a snapshot of prices for real estate in Brazilian cities, states and regions. Detailed studies of property prices in individual neighbourhoods will follow later.
In addition, the Index hopes to offer insight into trends within the Brazilian property market and identify possible bubbles. The first statistics are expected in December this year.
Prices on Upward Trend
Meanwhile, prices for property in Brazil continue on a steady upward trend. Latest figures from the Economic Research Foundation Institute (FIPE) point to a country-wide increase of 17% so far this year with the average price per square metre for Brazilian real estate coming in at R$5,777.
There are big regional variations with price increases the highest in Rio de Janeiro (23%). The 43% year-on-year rise in the city is even more spectacular and many analysts believe the 2016 Olympic Games are responsible for the marked increase in property value.
Although Brazilian property prices are rising, FIPE has detected a steady slowing down in monthly increases. The economist in charge of the study, Eduardo Zylberstajn believes that the market is “close to a point of accommodation, which is positive for everyone”.
Gary Hardacre at Obelisk International is convinced that the imminent Brazil Property Price Index will provide a much clearer picture of the real estate market. He believes official and reliable statistics will help identify investment opportunities and provide an all-important track record for investors.
About Obelisk International: Obelisk International offers select investment opportunities in Brazil in a range of sectors such as residential real estate, construction and social housing. Obelisk gives investors security, profitability and diversity thanks to a combination of close attention to our clients' investment requirements and high quality in-house research and analysis.
For more information on Brazilian investments and to find out about Obelisk International’s latest opportunities for investment in Brazil, contact us on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com. Follow us on Twitter – Obelisk International and Facebook.
Obelisk International
Apdo de Correos 977
29601 Marbella, Spain
Tel: +34 952 820 319
Email: press@obeliskinternational.com
http://www.obeliskinternational.com
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