By Andrew Batt:
The most popular overseas property investment for Singaporeans this year will probably come as a big surprise to many consumers and industry watchers alike.
Whilst developments from Malaysia, the United Kingdom, Australia and Thailand have all been popular, it’s likely that a social housing property investment in Brazil has won the unofficial accolade of the most popular property investment in 2012.
More than 600 Singaporeans have invested in a social housing property investment in the South American country, and while there are no official figures about the number of overseas purchases made by Singaporeans, this is likely to be the single most popular overseas property investment this year.
Award-winning developer EcoHouse is at the forefront of property development in Brazil. The company first offered the Brazilian social housing programme ‘Minha Casa Minha Vida’, which means ‘My House My Life’, some four years ago. It is now a major player in the development and construction of these affordable homes throughout the northeast of Brazil.
The man behind EcoHouse is Group Chief Executive Officer Anthony Armstrong-Emery. He helms a global team of more than 1,000 – including here in Singapore. The well-connected Brit has been involved in the international property business for more than 20 years.
Speaking exclusively to The PropertyGuru, he revealed how more Singaporeans have been snapping up investments in South American social housing projects in huge numbers. With minimum investment levels of S$48,000, many here have been buying up multiple units with the promise of 20 percent returns.
EcoHouse is delivering returns and has already secured a track record. Many initial investors have received their returns after just one year and a large percentage have re-invested for a second year.
Due to the nature of this scheme and the huge amount of houses that require building to reduce the current housing shortage in Brazil, Minha Casa Minha Vida has become a very popular investment opportunity.
Armstrong-Emery explained: “Many investors have been attracted by the fixed returns, the relatively low entry price, no currency exposure and the security that construction has already started.”
He added that the Brazilian government has also underwritten the on-going social housing programme.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
Related Stories:
HK risks property price slump: IMF
Ascott strengthens presence in Indonesia
More should consider Malaysia as investment destination: report