The BRIC's spectacular performance makes India and Brazil a perfect chance
Global housing markets around the world are proof of the new economic forces such as India and Brazil.
India and Brazil’s housing markets have continued their spectacular outperformance, with Delhi house prices up 22.68 percent during the year to Q3 2011, according to National Housing Bank (NHB) figures. There were strong house price increases in almost all India’s major cities, reflecting the country’s current high rate of consumer price inflation, despite a drop in demand resulting from the repo rate hike in October (currently at 8.50 percent), the 13th since March 2010, making home loans costlier.
Brazil’s Sao Paolo had the second highest house price rise in the world during the third quarter, with house prices up 5.88 percent during the quarter, according to the FIPE-Zap price index. Sao Paolo had an astonishing year, with house prices up 20.26 percent during the year to Q3 2011. The country is experiencing an unprecedented boom, not least because it is the host country for the World Cup in 2014 and the Olympics in Rio de Janeiro in 2016.
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