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Edition: U.S. Article Comments (0) Slideshow Join us for a Thomson Reuters Newsmaker as PIMCO CEO Mohamed El-Erian sits down with Reuters Global Editor-at-Large Chrystia Freeland to discuss the “Global Economic and Market Outlook.” You can post your questions here, or send a tweet to @trnewsmaker with the hash tag #PIMCO Send Questions | Full Article Follow Reuters Analyst Research Report Title Price Banco do Brasil SA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis. Provider: Reuters Investment Profile $10.0 Buy Banco do Brasil S.A. Provider: Datamonitor $125.0 Buy Wright Investors Service Comprehensive Report for Banco Do Brasil SA Provider: Wright Reports $75.0 Buy Wright Investors Service Core Report for Banco Do Brasil SA Provider: Wright Reports $18.0 Buy BANCO DO BRASIL SA (BBAS3) Profile + Banking Industry Trends Analysis 2011 Provider: Plunkett Research, Ltd. $49.0 Buy NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here. Recommended Newsletters Reuters U.S. Top News A quick-fix on the day's news published with Reuters videos and award-winning news photography and delivered at your choice of one of four times during the day. Reuters Deals Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Reuters Technology Report Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Subscribe Full List of Available Newsletters Brazil's housing carnival stokes bubble worries Tweet Share this By Stuart Grudgings RIO DE JANEIRO (Reuters) - Listening to Jose Carlos de Vasconcellos talk about Rio de Janeiro's property market is like being transported back to the bubble days in the United States or Europe. The 60-year-old, who came out of... Email Print Related News Special report: The revolution in central banking Thu, Mar 24 2011 New home sales plumb record lows, prices stumble Wed, Mar 23 2011 Home sales tumble, prices are near 9-year low Mon, Mar 21 2011 Obama woos Brazil while Libya air assault unfolds Sun, Mar 20 2011 Obama gives modest backing for Brazil's U.N. ambition Sat, Mar 19 2011 Analysis & Opinion Housing raises US recession alert Portugal’s government collapse complicates Europe’s problems Related Topics World » Housing Market » Stocks 1 / 4 The Botafogo neighborhood is seen with the famous Sugar Loaf Mountain in the background in Rio de Janeiro February 24, 2011. Credit: Reuters/Ricardo Moraes By Stuart Grudgings RIO DE JANEIRO | Fri Mar 25, 2011 2:07am EDT RIO DE JANEIRO (Reuters) - Listening to Jose Carlos de Vasconcellos talk about Rio de Janeiro's property market is like being transported back to the bubble days in the United States or Europe. The 60-year-old, who came out of retirement to join Brazil's swelling ranks of real estate brokers, is convinced that property in the beachside city is a one-way bet despite a near doubling of house prices in just three years. "I'm confident that the market isn't going to slow down any time soon," he said, taking a break from his afternoon class at a Rio school for real estate brokers. "I don't see any investment that's as good as property." Burned property investors elsewhere may beg to differ, but Vasconcellos is typical of the blissful optimism that has infused Brazil's real estate market at a time when property in much of the developed world remains buried in sour debts. Rio, boasting picture-postcard scenery and plans for big investments ahead of the soccer World Cup in 2014 and the Olympic Games two years later, is not alone in a Brazilian housing boom that is inevitably raising fears of an asset bubble in one of the world's hottest emerging markets. Since early 2008 -- just as the credit crunch was biting in the developed world -- residential property prices in Rio have risen 99 percent with Sao Paulo not far behind on 81 percent, according to a newly launched index by Brazil's Fipe economic research institute. Brazil lacks an official gauge of national house prices, but there have been similar booms in other major cities, including the capital Brasilia and coastal cities in the northeast such as Recife and Salvador. FEVER Americans and Europeans would recognize many of the symptoms of Brazil's property fever. Apartment prices are popular dinner table -- and beach -- conversation in Rio, anecdotes of humble doormen and taxi drivers becoming real estate brokers are common, as are stories of people snapping up apartments without seeing them. Rio's swankier addresses, such as beachside Leblon or Ipanema, are catching up with the eye-watering prices of Manhattan and central London with three-bedroom apartments changing hands for 2 million reais ($1.2 million) or more. One fairly average-looking two-bed apartment in Leblon a block from the beach is currently on the market for 2.45 million reais. Rio's central business area has overtaken Manhattan's Midtown district to become the world's fourth most expensive city to rent office space, behind only Hong Kong, London and Tokyo, according to global real estate group Cushman & Wakefield. Demand for places on training courses to become real estate brokers is booming. Just over 3,300 new brokers were registered in Rio state last year, a nearly ten-fold increase from 2005. Just as in China, another fast-growing emerging market where some worry about a property bubble, there is plenty of evidence that the boom is well-founded. 1 2 3 Next World Housing Market Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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