Brazil's property market 'one of the best in the world'
Brazil's real estate sector has been recognised as one of the best performing markets in the world.
Figures published by Global Property Guide revealed residential property values in Sao Paulo climbed by 19.79 per cent in 2011, compared with 2010, while a 5.41 per cent quarterly increase was recorded in the final three months of last year.
Editor of the publication Matthew Montagu-Pollock explained there are several factors that have contributed to the improving fortunes of Brazilian property, including the performance of its domestic economy, which has been particularly strong.
"Many people have forecast that Brazil's boom will come to an end, but there is little sign of that happening at the moment," he concluded.
Dean Thomas, managing director of DLT Property, a developer operating in the nation, agreed, noting the country is "definitely rising up in the property ranks".
The only market to show greater growth than Sao Paulo last year was Delhi in India, according to the Global Property Guide research.