By Georgia Grimond, Senior Contributing Reporter
RIO DE JANEIRO, BRAZIL – Moody’s, a credit rating agency, last week (February 16th) said that property prices in Brazil had fallen by 5 to 20 percent in 2015 and that, according to projections, the industry will continue to be “under pressure” until at least halfway through 2017.
In real terms the price of the average offer on a property declined nine percent in twenty Brazilian cities in 2015 but as the accepted price is often lower than the advertised price the contraction is thought to be closer to 15 to 20 percent.
The . . .