The housing boom in places like São Paulo, Brazil are giving rise to prosperity while preventing excessive debt. IBOPE Inteligência, a research firm pioneering the country’s first statistically sound house-price index, claims that prices in Rio de Janeiro will increase by 80% in the next three years. The prospect of hosting the Olympics in 2016 and the discovery of off-shore oil reserves has brought upon these price increases. Moreover, the tenfold increase in wages of Brazilian citizens over the past eight years have given rise to a number of potential buyers, hence, driving the property boom. In addition, the growing Brazilian economy has attracted many businesses, who's employees need a place to live. The desirable areas which they seek are becoming more expensive due to short supply. As a result construction of homes and infrastructure are increasing leading to higher wages and competition. Peru an Panama are also displaying signs of property exuberance as cities like Lima and transport routes like the Panama Canal are becoming hot spots.
-Gilberto Perez
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