Love distressed assets? Head to Brazil in 2017

Prices across the nation continue to fall

New York Weekend Edition /
Jan.January 07, 2017 04:30 PM

Brazilian property values continue to plummet, meaning this year is the year to buy.

Both commercial and residential real estate prices in Brazil ended 2016 5.5 percent lower than they did in 2015.

The Brazilian housing market is coming out of a decades-long bubble that still continues to deflate, according to data from the Brazilian Institute for Geography and Statistics cited by Fobers.

Analysts say the correction is due to a weak economy and high interest rates. But Brazilian developers are also having a hard go of it, waiting to see if the government (which is in the process of cutting back) will provide subsidized loans for low-income housing.

Average prices for residential real estate in Brazil grew 0.13 percent in December compared to November.

Prices for residential real estate fell by at least half a percent in cities like Rio de Janeiro on a month-to-month basis. Twenty other cities saw price declines.

Prices in Rio de Janeiro fell over 2 percent over the last 12 months. [Forbes]Christopher Cameron


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Gary LaBarbera now leads the New York City and New York State councils. (Getty)
Gary LaBarbera quietly takes helm of building trades statewide
Gary LaBarbera quietly takes helm of building trades statewide
Larry Ellison and 12525 Seminole Beach Road (Getty, Elliman, iStock)
Billionaire Larry Ellison plans to knock down $80M mansion
Billionaire Larry Ellison plans to knock down $80M mansion
Philip Falcone and his homes at 142 Crestview Lane in Sagaponack and 22 East 67th Street (Getty, Corcoran, Google Maps)
Phil Falcone files appeal halting foreclosure of UES, Hamptons homes
Phil Falcone files appeal halting foreclosure of UES, Hamptons homes
2111 Frederick Douglass Boulevard and 214 West 109th Street, two buildings as part of the portfolio (Photos via Google Maps; StreetEasy)
Black Spruce eyes $700M+ valuation for multifamily portfolio
Black Spruce eyes $700M+ valuation for multifamily portfolio
HomeX founders Michael Lerner and Vincent Payen (HomeX)
HomeX nabs $90M to connect homeowners and repair techs
HomeX nabs $90M to connect homeowners and repair techs
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...