The price of property in Brazil is set to rise by up to ten per cent in the coming year, according to new research.
A study by Reuters, which saw 15 banks, research groups and business associations being polled, highlighted that modest growth of between five and ten per cent is expected.
It is thought that the rapidly expanding Brazilian middle class will help bolster property prices as they look to make the move from renting to home ownership.
Of the 15 analysts polled, nine predicted a rise of between five and ten per cent, one predicted a greater rise, one predicted a smaller increase and three expect no change.
It is thought that any rises will be concentrated in the first six months of the year, with prices stabilising as we move into 2013.
The news comes after reports suggested that the nation’s economy is expected to grow by around five per cent over the coming year with the rate of economic expansion likely to see it becoming the sixth biggest economy in the world.