As Brazil’s economy struggles to recover, its real estate market continues to favor buyers. Prices are expected to be at least 20% lower than last year, presenting buyers with outstanding deals. Cabral Garcia Empreendimentos (enterprises) has a handle on the market and the increased demand for rentals, and knows where all the best deals can be found.
Experts are predicting that the economy in Brazil, which recorded a 0.2% drop in its GDP in June of 2012, will continue to fall by a 1.2% decline, which is expected by the end of the year. As a result, the once hot market has significantly cooled and prices are also dropping. While this is bad news for property owners, it is fantastic news for buyers that may have been hesitant to buy in previous years due pricing. As the economy continues to slow, the real estate market will continue to cool, creating a glut of properties with falling prices.
For those ready to buy, contacting an expert real estate agent or firm who is knowledgeable, like Cabral Garcia Empreendimentos who have a presence on Twitter, is the first step in finding hidden gems among the increasing inventory. Now is an excellent time to jump into that investment property that has been a lifelong plan. The Brazilian market cycles with high and low points, and will swing back up relatively quickly, making a purchase in this downturn a smart investment as the property value will recover. So buyers are sitting in the cat bird seat, able make a fantastic buy for that dreamed of vacation home or investment property, whose value is poised for an increase in value as the economy heads into recovery in the coming years.