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UBS sets up real estate venture in Brazil as prices dive

Office vacancy rate in Sao Paulo and Rio de Janeiro above 22 per cent in second quarter, a record high

Sao Paulo ranked 50th in a global list of the most expensive office markets in June, down from as high as eighth in 2012, according to CBRE.

Sao Paulo

UBS Group AG is betting on Brazil real estate.

The Swiss bank is starting a new business that will help investors capitalise on reduced property prices after a two-year recession, the firm's Brazil chief executive officer, Sylvia Coutinho, said in an interview in Sao...