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Back in 2007, when Brazil won the bid to host the 2014 World Cup, the Brazilians celebrated as if their team had already won the cup. From the parties in the Amazon to the fireworks over the Christ statue in Rio, it was like carnival came early that year. Brazil is used to being in the center of attention every four years: they’ve won the golden trophy five times and been in the finals twice! And Finally the wait is over and the month-long FIFA World Cup finally begins on June 12 in Brazil.
The World Cup will be hosted in twelve cities around the country that estimates to have over 3 million Brazilian and foreign tourists to watch Sport`s most anticipated event. Of course Rio is expected to have the highest number of visitors with estimates of over 500,000 visitors according to Bloomberg.
There are several projects that remain unfinished, which includes the Sao Paulo stadium which will host the first game of the World Cup Brazil vs. Croatia. The stadium was supposed to be completed in late last year, but the project was delayed after three construction workers died. There will be two sets of seats that were added to the stadium, but they will be removed when the World Cup is over to reduce the seating capacity for Brazilian first division games.
Brazil’s Property Market in a nutshell
Brazil offers a very unique combination of emerging market conditions and a strong economy that is increasing the expectations of its middle classes and which in turn attracts property buyers. The government has already built one million homes and now plans to complete another two million. For private investors in Minha Casa, Minha Vida developments, returns of around 24% a year are on offer, according to a report published on Colordarcy Investment. The country will witness high returns with a high increase in the rental return last January and property prices rising almost 12% from later this year.
But it’s not just investors who stand to gain, says Lamudi. In two years, prices have been on the rise reaching 85% in São Paulo. As property prices keep increasing dramatically, people with mortgages have a short time frame to pay it off.
Luxury homes for rent
If you`re heading to Brazil this summer and still don`t have a place to stay, don`t worry you can stay at Ronaldinho`s place. It`s only going to cost you $15,000 USD a night. On May 23rd 2014, Ronaldinho tweeteda link to his massive five bedroom villa in Rio on Airbnb, and put a hashtag “#CasaR10”. Oh, and smoking is not allowed in his home! Many owners are renting out their homes for the month, from big football stars to young students making a few bucks for the summer. It`s certainly refreshing for the property market in Brazil.
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