Brazil tipped to be investment hotspot
Emerging markets such as Brazil are likely to be highly popular locations among overseas property buyers this year, experts have predicted.
Currency specialist HiFX stated that during the past few years, interest in traditional investment spots including Spain has declined.
However, less-established markets in places such as South America were said to have attracted more attention over the same period.
This has led to Brazil being tipped as a hotspot of activity among British property buyers during 2008.
HiFX said the country was a good option for investors to consider since it offered benefits such as a growing economy and relatively low house prices.
Mark Bodega, director at HiFX, commented: "It’s easy to see why investors in particular are turning their backs on Spain and examining new markets at an earlier stage in their growth cycle."
He added that while established destinations would always remain popular with British investors because of their proximity to the UK, they would come up against strong competition from their emerging rivals.
This comes after Brazil was recommended as a good place in which to invest by the SaveBorrowSpend website.
The online portal said its undeveloped coastlines and rising property prices were proving to be tempting to many prospective buyers.
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