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Underdeveloped Mortgage Market Rapidly Expanding

As Brazil continues to advance economically, new mortgage friendly laws and ever increasing prosperity will provide a sound foundation for further credit and mortgage expansion; this will underpin the property market for years to come and remains integral to Brazil as an investment location.

Unlike many Western economies, at present Brazil has a small but rapidly expanding mortgage market, with only a small percentage of the population having taken out a mortgage; historically most property purchases are cash transactions. The Brazilian mortgage market grew 42 percent in 2011 and 65 percent in 2010, according to Abecip.  


Underdeveloped Mortgage Market Rapidly Expanding Continued...

By comparison, consumer loans grew 15.3 percent in 2011 and 18.8 percent in 2010, according to data compiled by Bloomberg. Brazilian banks are making home loans at lower margins to gain market share after the central bank embarked on the most aggressive interest rate cuts among the largest emerging markets.

With the mortgage market set to expand, domestic buying power will increase rapidly, resulting in a huge amount of locals waking up to the potential of property ownership.
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