Brazil 'avoiding the impact of the credit crunch'
The property market in Brazil is unlikely to be affected by the credit crunch, according to an industry expert.
Economic turmoil has badly affected a number of well-established property markets, notably those in the UK and US, in recent months.
However, Jonathan Garner of Morgan Stanley said it was a very different story in emerging markets such as Brazil and that he viewed property and land in the South American country as a good investment.
Explaining the reasons why, he added: "The credit crunch has very limited relevance to many emerging markets.
"Not only are the banks in good shape, you've also got households that are not overextended."
His comments come just days after Brazil's Central Bank revealed that foreign direct investment in the country has risen markedly since the start of the year.
Its figures showed that £6.5 billion of investment from overseas was received between January and April, reports Brazzil Mag.
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