Brazilian exchange rate 'favourable for UK investors'
People searching for an overseas property purchase boosted by favourable exchange rates have been urged to consider Brazil.
While pound sterling is currently weakening against currencies such as the US dollar and the euro, the Brazilian real continues to put British investors at an advantage.
Deane Roe, account manager for currency specialist Moneycorp, said recent drops in the value of the real are making Brazilian property more affordable than ever.
"The movements over the past few weeks have been huge and it all works in favour of the British buyer," he commented.
Mr Roe explained that a property costing 200,000 reais would have been the equivalent of £67,546 on September 1st, but is now available for £58,014 - a saving of nearly £10,000.
"With the Brazilian government pledging to stem the tumble with a vast cash injection, it's possibly wise to keep an eye on the rate and act soon," he added.
Olympic cyclist Chris Hoy, who won three gold medals in Beijing in August, recently bought a holiday home in Brazil.
Visit our off-plan property Brazil page.
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