With billions in investment and state-of-the-art installations, Pecém Port is on track to become one of Brazil’s of largest import-export centres. Together with its steel plant and oil refinery, the port will create over 130,000 jobs and add double-figure increases to Ceará’s GDP between now and 2020. This unprecedented injection of wealth will have huge implications on the demand for property in the area.
Political stability and strong economic fundamentals are the basis behind foreign investment in Brazil, currently at levels on a par with those last seen in 2007. With a number of key foreign companies investing heavily, Brazil continues to represent an excellent investment opportunity.
Brazil has a relatively young mortgage market, but it’s one that is growing fast as purchasing power among Brazilians increases and more banks offer financing for property purchase. One area that forms a focal point for Brazilian banks offering mortgages is Ceará in the northeast of the country.
There have been signs that consumer spending in Brazil has slowed down, but the luxury car sector tells a completely different story. Booming sales so far this year confirm that the upper middle class in the country still has money to spend and plenty of it.
The Brazilian labour market continues to be buoyant with the unemployment rate reaching a record low of 4.3% at the end of 2013. This downward trend continued into January 2014 where unemployment was lower than economist estimates, as surveyed by Bloomberg.
