Hartlepool, United Kingdom (PressExposure) December 11, 2008 -- US billionaire Sam Snell has said that Brazil is âthe bestâ market in the world for overseas investors.
Speaking at a business forum in New York December 2nd the chairman of Equity Group Investments explained that Brazil's vast resources and large pool of skilled professionals makes it an extremely attractive option, Reuters reports.
"If you look at all of the facts, I don't think there is a better environment in all the world than Brazil," he said.
Mr Zell added that Brazil has managed to escape the worst effects of the global credit crunch, with confidence remaining in the country's banking and housing sectors.
He revealed that malls owned by Equity Group in Brazil have experienced same-store growth of 12 per cent over the past year.
Liam Bailey, chief market analyst for overseas property portal Property Abroad concurred with Mr Zellâs viewpoint:
âBrazil has been a favourite of mine since late 2007, and the market has remained strong. Many major overseas property funds have invested massively in Brazil, and other sectors have also been invested in heavily -- including a major investment by UK bank Standard Life earlier this year. Brazil is currently one of the most popular countries to make an overseas property investment, both in terms of media coverage and hits/enquiries through Property Abroad, its continued popularity and media coverage will maintain Brazilâs status as a hot investment market, because people buying there will provide a strong resale market when todayâs buyers sell up.â
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