Brics Bank will be established at fortaleza summit

Brazil, Russia, China, India and South Africa to meet at summit in north east Brazil city with establishment of development bank main goal.

The five nations have reached a broad consensus on the foundation of the bank according to Chinese Vice Foreign Minister Li Baodong, who expects the development bank to be set up at the July 15 summit in Fortaleza, just an hour flight from EcoHouse Group’s developments.

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Brazil and South Africa to lead 2014 house price rises says Fitch

Brazil and South Africa are set to enjoy the highest rises in house prices in 2014, according to a survey of 16 countries from leading ratings agency, Fitch.  The Global Housing and Mortgage Outlook predicted that the two countries will see nominal property prices increase by 6% year-on-year by the end of 2014.  This is followed by a 5% increase in the UK, 4% in Australia, 3% in Germany and Ireland and 2% in the United States.  The report puts Brazil’s property growth down to a shortage in housing supply and an increase in real salaries in the country.

Meanwhile, prices are expected to fall in the Netherlands, France and the troubled southern European economies with values set to decline 3% in France and Italy, 5% in the Netherlands and 6% in Greece, whilst flat lining in Portugal.  The greatest fall in prices is set to come in Spain where a property overhang of one million homes is expected to result in an 8% depreciation, despite government attempts to stem the tide by introducing a ‘Golden Visa’ offering residency to foreigners investing over €500,000.

The report adds that the bulk of any increase in global prices will come in the first part of 2014 as rising interest rates will lead to slower growth by the end of the year.

To find out more about the Fitch report, visit the agency website at www.fitchratings.com/

Brazil and South Africa to lead 2014 house price rises says Fitch

Brazil and South Africa are set to enjoy the highest rises in house prices in 2014, according to a survey of 16 countries from leading ratings agency, Fitch. The Global Housing and Mortgage Outlook predicted that the two countries will see nominal property prices increase by 6% year-on-year by the end of 2014. This is followed by a 5% increase in the UK, 4% in Australia, 3% in Germany and Ireland and 2% in the United States. The report puts Brazil’s property growth down to a shortage in housing supply and an increase in real salaries in the country.

Meanwhile, prices are expected to fall in the Netherlands, France and the troubled southern European economies with values set to decline 3% in France and Italy, 5% in the Netherlands and 6% in Greece, whilst flat lining in Portugal. The greatest fall in prices is set to come in Spain where a property overhang of one million homes is expected to result in an 8% depreciation, despite government attempts to stem the tide by introducing a ‘Golden Visa’ offering residency to foreigners investing over €500,000.

The report adds that the bulk of any increase in global prices will come in the first part of 2014 as rising interest rates will lead to slower growth by the end of the year.

To find out more about the Fitch report, visit the agency website at http://www.fitchratings.com/