As the realty sector in the country is picking up again the builders and developers of Gujarat want to leave no stone unturned to lure the buyers and provide them with unique world class features. Over 100 builders from across the state are planning to visit Argentina and Brazil as part of a technical tour to study their local Realty Markets. The trip will be 10 day long and will give the builders an idea about the way their Real Estate Markets work in their economies.
Brazil and Argentina were chosen mainly because their economies are quite similar to the one in India. The trip will give the builders knowledge to compare and comprehend the real estate activities happening in the Latin American countries.
Photo by Vitor GuersonBrazil is part of the BRIC nations; Argentina’s GDP has an economy which, akin to India, has been growing at 8-9 per cent per annum. The developers will be visiting Argentina’s capital — Buenos Aires — often referred to as ‘The Paris of South America’. They will also be visiting the largest cities in Brazil — Rio de Janeiro and São Paolo — considered as the safest opportunities for real estate investment. Rio de Janeiro, regarded as the ‘Carnival Capital’ of the world, is probably Brazil’s most famous city and the second largest in Brazil with a population of over 15 million people. Sao Paolo is the centre of government and finance in the country, and is therefore likely to be popular with those looking for commercial and office properties.
Both the countries are among the hottest destinations in the world today for commercial real estate investment. The developers will not only hold meetings with local counterparts, they will also be looking for opportunities for possible joint ventures.
Well, this is not the first time the builders of Gujarat will be taking an excursion like this. In January, a similar group of realtors from Gujarat had gone to study the real estate cycle of the debt-hit Dubai.Some of them were also trying to acquire properties in the emirate. But the builders were apprehensive about putting their money in the place as the real estate market in Gujarat gave them far better returns. Similarly, last year, about 120 realtors from Gujarat had undertaken a technical tour of Japan and South Korea.
Surely these foreign tours have benefitted the city. The quality of design of real estate structure in terms of interiors, landscaping or aesthetics have improved by and large giving the state a new look and feel.