Property price index to increase transparency in brazil

The Ministry of Finance and the Central Bank in Brazil have revealed plans to introduce a new Brazilian Property Price Index to deal with growing interest in the country from interested investors. Brazil's new president Dilma Rousseff is eager for more transparency within the real estate market, and hopes the new development will assist this.

A spokesperson for Obelisk International explained: "The Property Index will be used to compare prices for different types of property in Brazil, both residential and commercial, over periods of time.

"Experts believe the Index will allow the Brazilian property market to be monitored and help avoid potential bubbles and crashes in the future."

At first the index will compare the values of properties in five capitals. Once completely finished, it will include details of the prices of houses and apartments across the whole of Brazil.

Source: Press Association