Fortaleza tops list of places to make money
Date added: 2nd March, 2009 at 09:22
(view all articles from March, 2009)
Fortaleza in Ceara, North East Brazil has been listed as one of the top three places for investors to make money during 2009.
Ronan McMahon wrote for NuWire Investor that Fortaleza has a lot going for it at the moment, particularly with regards to its property market.
He claimed that the market for short-term rental is operating at almost 100 per cent occupancy at present, while prices for condominiums have grown by 20 per cent in the city since April 2008.
Domestic and foreign demand are helping to drive the market forwards, while infrastructure investments, direct flights from the US and a burgeoning tourism industry are also supporting the boom.
"The domestic mortgage market is opening up and Fortaleza is becoming increasingly popular as a retirement destination for people from southern Brazil and Europe," Mr McMahon remarked.
According to visitfortaleza.com, Fortaleza is Brazil's fifth largest city with approximately 3.3 million inhabitants.
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