Tag Archives: brazil
Brazilians search the most for property in Miami, new research shows
Potential buyers from Brazil are leasing investment interest in the Miami real estate market which leads the United States in international property sales. It again led all foreign countries searching for South Florida real estate on the Miami Association of Realtors website in February 2015. The South American country, which topped all global consumers searching Miamire.com in the same period last year, has regularly ranked among Miami’s top foreign buyers. According to the association the distinction is significant considering Miami has the highest concentration of foreign born residents of any major US city and leads the nation in international real estate sales. In 2014, Brazilians registered 11% of all South Florida international real estate deals. Brazil had the third most property transactions in Miami and Broward Counties among all global consumers, trailing only Venezuela at 16% and Argentina at 12%. Brazilians spend the most on South Florida properties among foreign buyers, paying an average of $495,000. On average, Miami’s international buyers paid $444,000 per purchase, compared to $245,000 state wide. ‘Miami is an international city with world-class amenities, and that’s a big draw for Brazilians,’ said Christopher Zoller, 2015 residential president of the Miami Association of Realtors. ‘Typically, the Brazilians moving to South Florida are upper middle class families who want to enjoy their prosperity earned in Brazil as professionals and entrepreneurs,’ he added. A breakdown of the February figures shows that after Brazil the next most popular nationality searching for property was Colombians, followed by Venezuelans, then Canadians and then Indians. Searches from Argentina, the UK, Russia, the Philippines and Italy completed the top 10. When it comes to domestic searches, the most came from California, followed by Georgia, then Texas, New York, Illinois, Michigan, Pennsylvania, Virginia, Ohio and North Carolina. Nationally, Miami is consistently one of the top markets for foreign countries searching for property in the US In February Miami ranked as a top five market for 12 of 20 foreign nations searching for real estate on Realtor.com and Realtor.com International. Miami registered as a top market for real estate consumers in Canada, Germany, Brazil, Mexico, France, Italy, Netherlands, Russian Federation, Spain, Sweden, Switzerland and South Africa. Continue reading
England now needs 260,000 new homes a year!
In the 10 years since a major housing review report warned that at least 210,000 new homes a year needed to be built in England, an average of just 115,000 have actually been built. According to the author of the original report, Kate Barker, it means that the country is now one million homes short of what was needed to adequately house its population and prevent a worsening affordability crisis. Her latest report for the Home Builders Federation says that to put this into perspective, this shortfall is now equivalent to the number of homes in Birmingham and the surrounding areas. And reducing the long term trend and gradually pricing households back into the market will now require 260,000 private housing starts per year, some three times the number completed last year and a figure achieved in only four years since World War II. Even achieving the least ambitious of Barker’s three objectives, to slow down the rate at which households are priced out of the market, would require more than 200,000 private starts per year, a figure last achieved in 1973. ‘The Barker Review was a seminal report for housing and starkly illustrated the scale of the emerging crisis. Since then successive governments have failed to pay heed and develop policies to deliver the homes the country needs,’ said Stewart Beaseley, executive chairman of the HBF. ‘Whilst the Help to Buy Equity Loan scheme is finally starting to drive demand and significantly increase supply, we start from a very low base and the shortfall is huge,’ he told the organisation’s Policy Conference. ‘As we approach a general election, we now need to see all parties committing to policies that lead to a sustained increase in house building. We have to build our way out of the crisis. Building the homes the country needs will provide the decent homes people deserve and create hundreds of thousands of jobs,’ he added. Barker told the conference that the continued shortfall in housing supply matters most to those who lose out in the battle for dwelling space. She explained that even 10 Milton Keynes would only deliver 30,000 home a year, nowewhere near what is needed. ‘At the moment the cost is falling heavily on many families in the private rented sector. It is vital to raise the rate of new supply but also to develop coherent policies to address the consequences of the supply shortfall,’ she added. Continue reading
Brazil hailed as an exciting opportunity for buy to let property investors
Brazil is one of the world’s most exciting emerging property markets for investors looking for buy to let real estate that brings in a regular income, according to a new report. The report highlights how this years FIFA World Cup and the 2016 Olympic Games means that the country will attract more visitors which increases rental prospects in the major cities, especially those hosting these sporting events. The information in the report from Colordarcy is gathered from several independent sources, to give a clear overview of the main property hotspots and the kind of returns investors can expect, according to managing director Loxley McKenzie. ‘With an economy that has grown rapidly, Brazil looks set to continue offering investors high emerging market returns at low risk. Our latest report is designed to give investors, who may not be too familiar with Brazil, advice on where and how to invest,’ he added. Overall the outlook for property prices in Brazil will depend on how many people want a particular property and what they are prepared to pay for it, according to the report. When it come to rents at the moment the volume of rental properties in major cities is very low and vacancy rates are only 10%, according to real estate portal Zap Imoveis. ‘This creates an unique opportunity in Brazil property and see rental yields of 8% to 11% per annum and an increase in the price of property of between 10% and 15% per annum,' the report says. ‘In the major cities young professionals are struggling to afford the kind of prices now being asked for properties in good areas and even with the mortgage rates falling into single figures, affordability is unlikely to improve,’ it claims. ‘As a result those who purchase buy to let properties in Sao Paulo, Rio de Janeiro and Brasilia are cashing in by doubling the rent when tenants come to renew their contracts,’ it adds. The report suggests that the most attractive investments in terms of yields are smaller one and two bedroom apartments in new developments. 'Despite the shortage of rental properties, older developments that lack modern amenities are unlikely to see the dramatic increases in rents seen in new developments,’ the report explains. ‘A 50 square meter apartment will generate yields of 9.6% whereas larger units would be 5.4% to 7.2%. Apartments in the suburbs of Sao Paulo offer yields of between 4% and 8% and in more central areas close to transport links yields can be up to 11%, making it one of the world’s most attractive destinations for buy to let investors,’ it adds. When it comes to looking ahead the report points out that some of the dramatic increases in property prices seen since 2009 are now beginning to stabilise, adding that this is not a surprise as construction has accelerate to meet demand. Indeed, in 2013 price growth slowed from around 20% year on year to 12% and 10% to 12% is forecast for 2014. It also points… Continue reading
