Brazilian city to benefit from investment plan
The city of Joinville could soon become one of Brazil's property hotspots, according to a market expert.
Authorities in Santa Catarina's largest city recently announced a five-year $800 million (£405 million) investment programme, reports Nubricks.com.
Money will be spent on infrastructure projects, along with housing, health and education initiatives in a bid to boost the city's economy and create higher levels of employment.
Commenting on the news, Dan Johnson of The Move Channel suggested that property investors may be able to profit by purchasing before the residents of Joinville start to feel the benefits of the programme.
"In a domestic market that is growing rapidly as a whole, this city is already faring well and this investment programme will help Joinville to continue attracting residents and businesses," added Mr Johnson.
Jonathan Garner, head of emerging markets at Morgan Stanley, recently told Reuters that the impact of the credit crunch would hardly be felt in countries like Brazil which have low levels of household debt.
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