Holiday rentals news - 2016 Olympics boost Brazil property market

2016 Olympics boost Brazil property market

Demand for property in Brazil has increased since Rio de Janeiro was awarded the 2016 Olympics. Brazil is also in the running to host the 2014 World Cup, which has further boosted the country's property market.

Foreign exchange specialist Moneycorp told Homes Overseas that it has seen enquiries regarding Brazilian property investment soar by over 57 per cent. Moneycorp puts the increased interest in Brazil apartments down to the World Cup and Olympics effect.

In response to the increased demand from investors in Brazil's currency, Moneycorp has launched the Brazilian Real Service. The service fixes the rate of exchange, so investors know exactly how many reals they will be getting. The time between transfer and receipt of funds is also reduced.

Moneycorp's Dean Roe said: "At a time when people are trying to make the most of their investments, it is vital that they take some simple steps to ensure they are not wasting their cash. Our Brazilian service removes all of the complications that can arise when transferring money to Brazil."

Brazil will be the first South American country to host the Olympics. The country's government is expected to make considerable investments in its infrastructure and tourist facilities to ensure long term benefits for Rio and Brazil.

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