Better News for Global Investment

Better news for the world economy comes in a moderately optimistic report from the International Monetary Fund (IMF). The news is particularly good in emerging markets such as China, India, Russia and Brazil, proving that investment in these countries is well placed.

The latest IMF World Economic Outlook (WEO) finds that the “world economy is bouncing back” although the IMF is quick to point out that emerging markets are the engines pulling the globe out of its two-year recession. The IMF has revised its world GDP growth figures upwards. The prediction for this year now comes in 3.9%, a 0.8% increase on the previous IMF prediction made in September.

But this relatively high growth rate – particularly in the context of negative GDP in 2009 – is not uniform throughout the world. Emerging market economies are almost three times ahead of the advanced economies. Countries such as Indonesia, Brazil and China have an expected combined growth of 6% this year and 6.3% in 2011. Compare this to the 2.1% increase forecast for those countries in the advanced group.

The IMF describes the growth in emerging markets as “relatively vigorous”. According to Olivier Blanchard, the IMF’s Chief Economist, major emerging economies are “doing extremely well”. Regarding the future for China, India, Brazil and the like, Mr Blanchard believes “private demand can come and consumption can easily increase”.

Investment – both public and private – in emerging markets has been strong over the last 12 months. Countries such as China have seen huge public spending to stimulate its economy. The results speak for themselves – China’s GDP increased by around 9.5% last year and the IMF predicts a 10% growth rate this year.

Investment in Brazil has also been booming. Massive public investment is taking place in infrastructure and on a private level; investment in Brazil has been huge in the stock exchange, companies and real estate. Brazil, China and India have the advantage of large populations, which are providing a substantial percentage of the all-important “private demand”.

Mr Blanchard believes that the global recovery is “multi-speed” and he divides the world economy into three classes. In one are the advanced economies (e.g. the US, the euro zone and Japan) where he says “recovery is there but weak”. A glance at the IMF predictions for 2010 confirm this – only Canada and the US are expected to gain over 2.5% in GDP this year with most of Europe coming in at under 1.5%. Spain is not even expected to leave recession during 2010.

The next group encompasses major emerging markets. Here, China tops forecast GDP growth and the IMF expects 7.7% for India, 4.7% for Brazil and 3.6% for Russia. These figures are significantly higher than the previous September predictions. India has increased by 1.3% and Brazil by 1.2%.

The IMF’s third group is made up of “countries paying for past excesses”. These include advanced economies (e.g. Spain, Portugal and Ireland) and emerging markets such as the Baltic States and Hungary. Mr Blanchard is pessimistic over the future for this group and states that “even if there had been no crisis, they would still be doing badly”. Since this group contains some perennial favourites for overseas property investment, this analysis is far from encouraging.

Obelisk believes that the latest WEO brings a welcome dose of optimism to investment. It also adds weight to the Obelisk conviction that emerging markets hold the most promise for those planning any type of investment –property, commodities, stock and shares etc. Emerging markets are undoubtedly the place to put your money.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk on 0034 952 820 319.

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge at www.absoluteguideseries.com.

Contact us via email: info@obeliskinternational.com or visit our website: www.obeliskinvestmentproperty.com.

Healthy Gain for Brazil Property Investment

Brazil is already tipped to become one of the top performing overseas property destinations in 2010. And the recent release of figures reporting price rises of 13% on Brazil real estate confirms the Latin American giant’s excellent investment potential.

Brazil releases no official statistics on property prices, although experts on investments in Brazil are unanimous that house prices have been experiencing a steady upward trend.

The latest figures released by Cyrela Brazil Realty – one of the largest groups of real estate agents in Brazil – point to a year-on-year price rise of 13% between Q3 2008 and Q3 2009. Prices per square metre on units sold by Cyrela rose from R$3,052 to R$3,452 in 12 months. There was also a spectacular hike in the number of units sold. In Q3 2008, 4,974 units were sold with this figure increasing to 6,378 in Q4 2009, constituting a rise of around 28%.

Cyrela is one of the biggest real estate agent groups in Brazil and also one of the oldest. With a presence in 17 states and 55 cities, Cyrela has access to a large proportion of the property market in Brazil. The company has numerous partnerships throughout Brazil including Abreu Brasil Brokers in north east Brazil. Abreu is the largest estate agent in this part of Brazil and the management company for Laguna Beach, the luxury beachfront complex developed by Obelisk International.

Foreign investment in Brazil property has seen a steady upward trend, particularly since September last year when it became clear that Brazil had left the global recession far behind. Homesoverseas.co.uk claims foreigners are literally “flocking” to Brazil’s coastline to snap up property. Investment from Brazilians is also booming as increased purchasing power and record-low interest rates make homeownership more accessible.

The claims of a booming market are backed up by the number of units sold by Cyrela as well as the company’s results – year-on-year sales in Q3 2009 represented a 40% increase.

The government’s ambitious low-income housing programme aims to build 1 million units by the end of this year. The programme has been a huge success and is pushing construction rates to record highs. Investment in property in Brazil is currently taking place at all entry levels and many experts agree that investment has never been stronger.

For Obelisk, the potential for return behind Brazil real estate is obvious. As the rhythm of construction in Brazil gains pace, Obelisk believes that double-figure price hikes are likely to make the headlines for several years to come.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk on 0034 952 820 319.

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge at www.absoluteguideseries.com.

Contact us via email: info@obeliskinternational.com or visit our website: www.obeliskinvestmentproperty.com.

Brazil Real Estate Opportunity

Yet another consultancy report finds that property investment in Brazil has huge growth potential. This confirms that there are tremendous investment opportunities available now and in the near future in one of the world’s top emerging markets.

Global management consultants, A.T. Kearney, regularly research world property markets. Their latest publication, The A.T. Kearney 2010 Real Estate Global Opportunity Index ranks Brazil in fifth place, a leap from 14th place in the previous Index. Noting that “Brazil is a strong position”, the report places Brazil behind China, South Korea, India and Saudi Arabia with Brazil’s total score of 49 just one point behind Saudi’s.

The Index looks at four criteria for real estate investment: construction spend, construction growth, country risk and the ease of doing business in 50 emerging markets across the globe.

In the ‘construction spend’ category, Brazil scores relatively low (25 out of 100), although the figure is considerably ahead of both South Korea and Saudi Arabia, and far higher than all but four of the total 50 countries. In terms of ‘construction growth’, Brazil scores 39. However, as highlighted by A.T. Kearney, the huge government social-housing programme – My House, My Life – is expected to boost the construction spend and growth figures considerably during 2010. According to the report, the Brazilian construction industry “attributes its net profit of US$322 million in Q2 2009 to the programme”.

The Index reports that Latin American property investment markets have been generally stable over the last 12 months because of “continued growth in consumer spending and home-buying and the creation of new jobs”. Brazil is highlighted as a case in point.

The Index also focuses on Brazil’s economy, which the report says “seems to have already emerged from the crisis relatively unscathed”. Buoyant GDP in Q2 2009, healthy financial institutions and government stimulus programmes in infrastructure are quoted as the main reasons behind Brazil’s “brisk emergence from recession”.

The Index finds that the residential property market in Brazil “is benefiting from rapid population growth and a demand backlog”. Limited credit for individuals is believed to be one of the causes behind the backlog, although the report points out that mortgage lending in Brazil grew by 41% last year. Even so, the potential for further growth is massive – residential mortgages in Brazil constitute just 2.5% of the country’s GDP (in the US, mortgages account for 68%).

Mortgage lending will certainly be boosted by growth in Brazilian property investment, particularly once non-resident mortgages become readily available. The final obstacles to run-of-the-mill mortgages for foreigners are expected to be removed before October this year.

As seen in this prestigious Index, within Latin America property investment, Brazil is far ahead of the game. Obelisk believes that Brazil’s rise to 5th is a firm indication of its potential globally. Obelisk also expects Brazil’s ranking as a real estate opportunity to rise even further on the back of increased construction this year.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk on 0034 952 820 319.

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge at www.absoluteguideseries.com.

Contact us via email: info@obeliskinternational.com or visit our website: www.obeliskinvestmentproperty.com.

Chile Investment – One to Watch

The triumph of centre-right Sebastian Piñera in Chile’s latest presidential elections confirms the country’s solid democracy. The victory was well received by investors and the Chile investment potential remains high.

After two decades of centre-left rule under the Concertación party, Chile voted for a change. Piñera, one of Chile’s richest men, won the elections by a narrow 51.6%. Billionaire Piñera was responsible for introducing the first credit card company into Chile and his assets include a 26% stake in Chile’s national airline, LAN and the Colo-Colo football team, national champions.

Piñera’s victory was applauded in investment markets – the Chile Ipsa stock market soared the day after polling – and his government is expected to be heavily pro-market. This is good news for investment in South America since along with Brazil; Chile currently represents one of the best emerging markets for investment in the continent.

Chile shares many other similarities with Brazil. Both are South America’s top-performing economies. Brazil and Chile both experienced a slight contraction in economic growth in 2009, but both are poised for high GDP increases this year. Chile is expected to achieve between 4.5% and 5.5% with expectations for Brazil slightly higher.

Chile has an impressive track record of reducing the gap between rich and poor. Chile has dramatically brought its poverty level down from 39% in 1990 to 14% in 2006. Brazil has also seen similar success in narrowing social inequality.

In addition, Chile and Brazil share similar recipes for economic survival during global downturn. To alleviate the effects of recession, the Brazilian and Chilean governments have both made major public investment. In the case of Chile, this investment is to the tune of US$4 billion in tax cuts and public spending. Chile boasts massive copper reserves and prudent government management of these have tided the country well over the last year.

In its emerging markets classification, Barclays Capital ranks Chile as the second most advanced, behind Singapore but ahead of the four BRIC economies (Brazil, Russia, India and China). Chile is also a brand-new member of the Organisation for Economic Co-operation and Development (OECD). Membership of this prestigious organisation was recently awarded to Chile which is the only South American member of the OECD to date.

However, when it comes to real estate, Brazil, China and India are considerably ahead of Chile. The latest A.T. Kearney Real Estate Opportunity Index ranks Chile in 29th position. In 5th place, Brazil property investment potential is considerably higher and Brazil is the only Latin American country in the top ten.

When Piñera is invested in March as the next president of Chile, he will inherit a recovered economy with a promising future. His election pledges include the creation of 1 million jobs over his 4-year term and annual GDP growth of 6%. Although challenging, these pledges are certainly attainable given Chile’s huge investment potential and buoyant domestic consumer market.

At Obelisk, we believe that for property investment, Brazil and Chile are the rising stars in Latin America. Both enjoy stable and consolidated democracies and strong economies, essential ingredients when considering investment in emerging markets.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk on 0034 952 820 319.

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge at www.absoluteguideseries.com.

Contact us via email: info@obeliskinternational.com or visit our website: www.obeliskinvestmentproperty.com.

Top Five Opportunities for Property Investment in Emerging Markets

Property investment in emerging markets looks bright in 2010 as real estate prices return to attractive levels. Asian countries such as China and South Korea plus Brazil and Saudi Arabia offer the best investment potential.

The A.T. Kearney “Recovering Markets, Revised Ambitions” report evaluates real estate investment opportunities in 50 emerging markets around the world. According to the report, the property investment markets in these nations are “gearing up for a comeback”.

The report, which doubles as the 2010 Real Estate Global Opportunity Index, looks at construction spend, construction growth, country risk and ease of doing business in emerging markets. Based on these criteria, the top five property investment opportunities for 2010 are China, South Korea, India, Saudi Arabia and investment in Brazil.

Asian countries have traditionally dominated the top ten positions (six out of ten highest-ranking countries are in Asia). Brazil is a new-comer to the top five and has climbed nine places since the previous Index when it ranked in 14th position.
According to A.T. Kearney, global management consultancy experts, Brazil, India and China are the top three countries for high opportunity in real estate investment. Reasons behind their exceptional potential are “government stimulus, infrastructure investment and resumption of lending”.

The report’s objective is to provide advice for developers planning property investment in emerging markets. A.T. Kearney believes that Asia constitutes an “unstoppable real estate engine” since growth in the property market runs parallel to the high economic growth in the region (led by China and India).

The report claims that China is “witnessing a frenzy of land acquisition at unprecedented prices”. South Korea offers excellent opportunities for foreign investment and the residential real estate market has recovered from its recent downturn. A.T. Kearney predicts a “residential boom on the horizon” for India where there is huge demand for affordable housing. However, the report cautions that the Indian market “can be difficult” for foreign investors.

In the Middle East, Saudi Arabia represents the largest real estate market and here, unlike the neighbouring UAE, demand for property investment is driven by the local population.

As regards property investment in Brazil, the Real Estate Opportunity Index reports that “the residential market is benefiting from rapid population growth and a demand backlog”. These factors plus government stimulus programmes and investment in infrastructure explain Brazil’s top five position in the rankings. Other Latin American countries come considerably further down the table – Argentina ranks in 13th place with Chile and Mexico in 29th and 31st respectively.

The report earmarks low-cost housing as a niche market to watch, particularly in countries where large sectors of the population have low incomes. This is the case in China, India, Brazil and the Middle East. A.T. Kearney believes that “low-cost housing is the new frontier for developers”.

The Real Estate Opportunity Index concludes that “real estate prices are back to attractive levels in most emerging countries”. It predicts that property markets will rise as long-term institutional investors make more cash available for property investment.

Obelisk in-house research concurs with these findings. However, Obelisk points out that at an individual level, property investment opportunities in India, China and Saudi Arabia are limited due to foreign-ownership restrictions. Because of this, Obelisk believes that Brazilian real estate represents the best investment for foreigners looking at emerging markets with the best potential.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk on 0034 952 820 319.

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge at www.absoluteguideseries.com.

Contact us via email: info@obeliskinternational.com or visit our website: www.obeliskinvestmentproperty.com.

Is Purchasing Property Straightforward in Brazil?

Unlike some emerging markets for property investment, Brazil has a straightforward buying process. To help the investor understand the procedure, Obelisk offers the following guide to completing your Brazil property investment.

Firstly and perhaps most importantly for the foreigner planning investment in Brazilian real estate, there are almost no restrictions on the purchase of property by foreigners in Brazil. Foreigners are only prohibited from buying land subject to national or security interests. Foreigners – resident or non-resident – enjoy practically the same rights as Brazilians when it comes to buying and letting property. In addition, legislation in Brazil regarding property purchase is well-established and not subject to frequent modifications as is the case in some emerging markets such as China.

Your first step – as in all overseas property investment – should be to take independent legal advice to ensure your interests are represented at all times. Your lawyer will explain the procedure behind buying a property in Brazil and keep you informed throughout the process.

All buyers of property in Brazil (foreigners and Brazilian nationals) require a tax identification number. Called the cadastro de pessoa física (CPF), this number identifies you before the Brazilian tax authorities. Most foreigners request their lawyer to obtain the CPF on their behalf. The CPF is obtainable from tax offices, most post offices and Citizen Services Centres (Poupatempos) in Brazil and the application process is straightforward and quick. You need to provide proof of identity (e.g. your passport) and domicile (e.g. a utility bill).

The due diligence process is slightly different if you are buying a resale property or new (off-plan) property. For resale properties, your lawyer should obtain a document known as Certidão de Onus Reais. This document includes the entire history of ownership of the property and is obtainable from the Land Property Registry (Cartório). Your lawyer should also obtain the Land Tax Certificate (Certidão Negativa de Imposto Municipal), which states any pending debts on the property. If you are making an off-plan investment in Brazil, your lawyer should check that the development has all the pertinent licences in place.

A sales contract is drawn up between both parties and a deposit paid. The final sales deed completion on resale properties usually takes place a month later. The deed signing for off-plan purchases happens once construction is complete. Deeds are signed before a notary public and then registered at the Land Registry in the new owner’s name. Fees based on a sliding scale and the purchase price are payable to the notary and Land Registry.

All transfers of funds for property investment in Brazil must be made through the Central Bank. Records of all transfers are kept at the Central Bank, which act as financial proof of the investment.

Unlike some emerging markets, Brazil has a transparent and straightforward purchase process. The registration procedure is secure and well-developed – online consultations are available in most towns and cities. The process is easy and relatively quick.

In spite of distance and language barriers, foreigners will find the steps to buying a property in Brazil relatively easy. At Obelisk, we see many similarities to the procedures in established property markets such Spain and France. But Brazil offers an added bonus – along with a straightforward investment process comes some of the best value luxury property anywhere.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk on 0034 952 820 319.

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge at www.absoluteguideseries.com.

Contact us via email: info@obeliskinternational.com or visit our website: www.obeliskinvestmentproperty.com.

Emerging Markets Lead the Way

China has just announced that it has overtaken Germany as the world’s top exporter. The news adds weight to the evidence that emerging markets, particularly the BRIC nations (Brazil, Russia, India and China), are the new global economic leaders.

China’s exports for 2009 are reckoned to have totalled a massive US$1.2 trillion. Although the figure is only slightly ahead of Germany’s US$1.17 trillion, analysts believe that this is the beginning of a long-term trend. It is also seen as an important psychological boost for the world economy since China is a key engine of growth. China is already the world’s third largest economy and is widely expected to overtake Japan (the second) during this year.

China’s exports in December 2009 experienced a year-on-year increase of 1.7%. Not only did China see a boom in exports – the import market also saw some impressive hikes. Crude oil imports were up to over 5 million barrels a day while iron ore imports grew by nearly 42% and copper by over 25%.

China’s insatiable appetite for commodities is excellent news for world trade, particularly for commodity-rich countries. Brazil is a prime example – with its giant reserves of natural commodities, Brazil is a top trading partner with China. On the back of the increased trade with China, foreign investment in Brazil is also booming.

In addition, Brazil is a vital source of soft commodities for China. Eating habits among the world largest population are changing rapidly – meat is fast becoming a favourite on Chinese menus – and as a result, China needs vast amounts of soya beans (used as animal feed). As one of the world’s top producers of soya beans, Brazil has seen booming agricultural exports to China over recent months, a tendency expected to continue.

China’s need for crude oil is largely met by Middle Eastern oil giants such as Kuwait and Saudi Arabia, although the discovery of vast oil fields off Brazil’s coast means that Brazil will almost certainly figure among the major exporters of export oil to China in the near future. (Exploitation of Brazil’s oil fields is expected to begin imminently.)

The Chinese government predicts GDP growth of 9.5% for this year (last year saw an increase of 8.3%), a figure that will lead world economic recovery. Other key players in this resurgence of growth will be Brazil and India with forecast GDPs of 4.5% and 6.4% respectively. With worldwide growth expected to come in at 3%, it is more than obvious that Brazil, China and India are engines pulling the locomotive.

At Obelisk, we are well aware of the growing importance of emerging markets in the global scenario and believe that investment in emerging markets is a must for the savvy investor. However, you need to choose carefully, particularly if you are looking at property investment. In this instance, Obelisk maintains that Brazilian real estate is by far the best bet.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk on 0034 952 820 319.

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge at www.absoluteguideseries.com.

Contact us via email: info@obeliskinternational.com or visit our website: www.obeliskinvestmentproperty.com.

The Decade for Investment in Emerging Markets

When it comes to investment, financial and political experts are unanimous – this new decade belongs to the world’s developing countries. Led by the BRIC economies, investment in emerging markets, particularly Brazil, India and China, is set to reach unprecedented levels as developing nations lead the way into the future.

An end-of-year article in The Economist examines how the global downturn has affected developing countries and the conclusion is somewhat surprising. According to the magazine, the story of recession in emerging markets is one of “virtue rewarded” with several of them poised to become the driving engines behind the world economy.

At the start of the economic meltdown, many analysts predicted that developing countries would be the worst affected. The saying “when the rich world sneezes, developing countries get swine flu” was widely expected to be the case. But although developing countries did manifest some of the first symptoms of an imminent cold – for example, industrial output in Taiwan fell by a third in 2008 – these rarely developed into anything worse. In fact, according to The Economist, the end of 2009 was “a period of healthy recovery” for developing countries.

Stockmarkets are one of the clearest indications of this. While in 2008 exchanges in most developing (and developed) nations nosedived, 2009 tells a totally different story. China’s stock market experienced a year-on-year drop of 68% in 2008 but gained 125% in 2009. The changes in investment in Brazil’s Bovespa are even more spectacular – after a drop of 55% in 2008, 2009 saw an increase of 142%, the largest gains anywhere.

Brazil also boasts other examples of its “healthy recovery”. By the end of last year, the Latin American giant had created over 1 million jobs and its mortgage market was at record levels. With a predicted growth of 4.8%, 2010 also promises great things for those planning investment in Brazil.

According to Goldman Sachs, the ‘inventors’ of the BRICs acronym, the four BRIC economies have accounted for nearly half (45%) of global growth since 2007. During this new decade, the percentage is expected to rise still further. As The Economist points out, “the recession showed that economic power is leaching away from the West faster than was thought”. A quick recovery from the recession with few lasting effects means that some emerging countries now have “gold-rush status”.

At Obelisk, we are firm believers in this gold-rush status, although we are more selective and are basing our recommendations on just one of the four BRICs – Brazil. The combination of political stability, a strong domestic market, booming economic growth and respect on the world stage offers unique advantages for investment in Brazil. In addition, foreign property investment in Brazil is straightforward and has perhaps the best potential for return in democratic emerging markets. Obelisk believes that undoubtedly property investment in this new decade belongs to Brazil.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk on 0034 952 820 319.

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge at www.absoluteguideseries.com.

Contact us via email: info@obeliskinternational.com or visit our website: www.obeliskinvestmentproperty.com.

Free Guide to Brazil Property Investment

Numerous experts are tipping Brazil as the place for investment in 2010 and beyond. Keen advocates of Brazil’s potential, Obelisk Investment Property have just updated their Absolute Guide to Brazil Investment Property.

Now in its fourth edition, the updated Guide is available completely free to investors. The Absolute Guide to Brazil Investment Property can be downloaded in pdf format from www.obeliskinvestmentproperty.com. This guide to Brazil contains vital investment information and includes snapshots of the Brazilian economy, financial sector, foreign investment in Brazil, tourism and infrastructure. Special attention is dedicated to the Brazil property market and the secondary market.

Obelisk is known for its rigorous market research and in this guide, sources include global experts with quotes and figures from world-class financial and property specialists. On the economic front, analysts quoted include Bank of America Merrill Lynch, the Financial Times and The Economist. In the property sector, Jones Lang LaSalle and Homesoverseas provide background information.

The Absolute Guide to Brazil Investment Property tracks the dramatic change in Brazil over the last decade. Once an impoverished nation riddled with debt, hyper-inflation and high unemployment, Brazil is now a rising star on the global economic stage. The guide brings readers right up to date and reports how Brazil recently successfully rid itself of all its debt obligations and in a complete about-turn, became an IMF creditor early last year. Investors can also read about how inflation is well in check and hovering at a steady 4% and how, on the employment front, Brazil created over 1 million jobs last year.

Unsurprisingly, Brazil is classed among the best emerging markets for investment and as reported in this updated guide to Brazil, it outclasses the other three BRIC economies (Russia, India and China).

Obelisk has long recognised the potential for investment in Brazil and one of the first Obelisk recommendations was the successful Estrela do Atlântico in Natal, north east Brazil. Obelisk’s current investment recommendation is Laguna Beach, also in north east Brazil and within easy reach of Natal city and International Airport. Laguna Beach offers ocean-front luxury properties at a fraction of the price you would expect to pay in Europe.

With Brazil expected to experience at least 4.5% growth this year and tourism poised on the brink of huge expansion on the back of both the World Cup and Olympic Games, Brazil real estate also looks set to enter a massive boom. Not least because the Brazilian government is implementing a social- housing programme under which one million low-cost properties will be constructed by the end of this year.

Whether your Brazil investment involves property, stocks or funds, Brazil undoubtedly offers some of the best returns on the globe. For accurate insider information, download your free copy of the Absolute Guide to Brazil Investment Property now.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk on 0034 952 820 319.

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge at www.absoluteguideseries.com.

Contact us via email: info@obeliskinternational.com or visit our website: www.obeliskinvestmentproperty.com.