Property Grand Prix – Brazil

Property Grand Prix – Brazil

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The Brazilian Grand Prix was nothing but spectacular and loaded with suspense for title contenders Felipe Massa and Lewis Hamilton. Die-hard F1 fans couldn’t have wished for a more thrilling end of season finish than in this race.

It had all the makings of a nail biter and didn’t disappoint in the end. Rain at the start of the race saw David Coulthard make an unplanned exit to his last Grand Prix race after Nico Rosberg nudged him into a spin.

Massa managed early to keep the field controlled and drove the perfect race. Therefore it made it all the more emotional when the title was snatched out of his hands virtually in the last second of Hamilton’s performance.

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With Massa already having crossed the finish line as the title holder of 2008 Grand prix championship, little did he know that seconds later Brit Hamilton would engage into his last duel for the race with Timo Glock on the very last corner. Having previously been in sixth, trailing Glock, Hamilton had to take fifth position in order to come first.

Rain in the closing stages of the race saw the leading five – Massa, Renault’s Fernando Alonso, Ferrari’s Kimi Raikkonen, Hamilton and Toro Rosso’s Sebastian Vettel – pit for wet tyres. Glock failed to do the same and that was what ultimately allowed Hamilton to take fifth.

He made the unthinkable happen and zoomed into fifth place, giving him the treasured 1 point lead and therefore the championship for the season.

McLaren’s Lewis Hamilton is now the youngest driver ever to have won the world championship in F1.

Race results:

  1. Felipe Massa (Ferrari)
  2. Fernando Alonso (Renault)
  3. Kimi Raikkonen (Ferrari)

Driver championship results:

  1. Lewis Hamilton (McLaren-Mercedes) 98 Points
  2. Felipe Massa (Ferrari) 97 Points
  3. Kimi Rakinenen (Ferrari) 75 Points

In the team stakes, Ferrari took the seasonal lead with a total of 172 points before McLaren-Mercedes with 151 points.

Brazil Property Market

Brazil has been hailed as one of the newest property markets on fire over the last few months. Many European investors have taken advantage of the short flying times and affordable prices and made Brazil their second home.

They might have also liked the fact that the Brazilian REAL weakened at the beginning of October, making Brazilian property even more affordable for overseas buyers.

The dream of owing beachfront property can indeed still become a reality for many and the general economy is strong enough to outlast the current global gloom days.

While Brazil isn’t immune from some effects, the nations central bank has claimed to be strong enough to deal with the current situation worldwide.

The International Monetary Fund’s latest assessment of Brazil’s growth which has been a strong 5 to 6% in the past, is now expected to be 3.5% in 2009. This will certainly have some sort of impact on the countries real estate growth.

But while it might slow down the market somewhat, it won’t be responsible to extinguish the light of opportunity for property investors for some time to come. Aggressive development in the Northeast is well on the way with many new resorts and infrastructure being built.

Some people reckon that 80,000 homes will have to be built in the area to provide enough residential living for the growing influx of people.

One of the strongest industries in Brazil besides the property market and tourism is the country’s own resources of natural oil. Petrobras is breaking all previous records on oil production thanks to huge recent offshore oil discoveries.

Pipa Beach is a well known property and holiday hotspot attracting thousands with the relaxed lifestyle, boutique development, beaches and coastal settings. Many similar resort towns are appearing out of nowhere, giving investors plenty of choice for their budgets.

Brazil is a country where dreams of owing the dream property for the right price is still a reality and with the promising outlooks of the future, investors will have plenty to look forward to.

Photo credits: dubiella

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