Sao paulo prices shoot up by nearly 20 per cent

Sao Paulo’s property market has seen prices shoot up by nearly 20 per cent in the last year according to a new report from Global Property Guide.

Advertised prices rose by 19.5 per cent in the year ending June 2011.

The growing number of middle class people in Brazil has contributed to the increase, says the report.

However Matthew Montagu-Pollock, owner of GPG, says that the figures should be treated cautiously rather an indicator of a wider trend.

Source: OPP.org.uk