Investors snap up property for sale in Brazil

A growing amount of second home buyers from the UK are buying property for sale in Brazil, it has been discovered.

British newspaper the Times wrote that the north-east coast of the South American nation has become a major hotspot of activity for overseas buyers.

The publication said developers are creating brand new resorts along the coastline, which include attractions such as private pools, spas and golf courses.

This offers that authorities in the region are aiming to attract buyers to the top end of the market.

However, the newspaper wrote that it is not only overseas property buyers who are interested in buying property for sale in the region.

The Times remarked: "The emergence of an increasingly affluent Brazilian middle class means there is not too great a dependence on British and other foreign buyers."

North-east Brazil was recently recommended by NuWire Investor, which said its growing tourist trade and strong economy makes it a good location for investors to consider.

This comes after north-east Brazil was described as a "hidden gem" by NuWire Investor on the strength of its strong economy and growing tourist trade.