Experts tip investment in Salvador

Date added: 17th April, 2008 at 15:43
(view all articles from April, 2008)

Categories: Apartments

Experts have said that investment in Salvador could be a very profitable idea.

In an article for the MarketWatch newswire, journalist Polya Lesova reported that people were now beginning to wake up to the idea of investing in Salvador and other areas of North-East Brazil.

Local businessman Carlos Novis Guimaraes explained in the article that Brazil had the basis to become a very popular tourist destination.

"Brazil has an incredible mixture of natural beauty, [pleasant] climate, a welcoming population and a vast number of different cultural attractions," he said.

"From the Amazon to tropical forests to colonial history to beaches, it's a myriad of natural and very high-level attractions that have been vastly underdeveloped."

Ms Lesova also noted in her article that a recent report from Credit Suisse analyst Marcelo Telles showed that the North-East was a good spot to consider investment.

The report claimed that land in Salvador for sale was currently cheap, meaning that investors could expect returns of between 30 per cent and 35 per cent on second home developments.

A recent report seen by the Brazil-Arab News Agency noted that the country's construction sector would grow by ten per cent this year, indicating there could be more properties to invest in the future.

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