Property in Brazil's north east 'an attractive investment'
Date added: 27th March, 2009 at 10:01
(view all articles from March, 2009)
Categories: Property News, Fortaleza, Salvador, Natal
Investing in property in Brazil's north east is an attractive prospect for people who may be hesitant about putting their capital into stocks and shares in the current climate.
This is according to Emirates Business, which highlights Brazil as one of the top ten countries in which to make such an investment and said that bricks and mortar can offer a better sense of security and more of a long-term prospect for returns.
The newspaper cites Knight Frank and Citi Private Bank's 2009 Wealth Report, which states that penthouse apartments in city centres could offer good opportunities for investors, since they can be used for both tourists visiting and local people who may need second homes to stay in during the week to save commuting.
"If I were an investor, I'd start looking now," commented Knight Frank head of international residential Patrick Dring.
He added that several high quality developments are planned for the coming years, presenting "untapped potential", particularly since Brazil is set to grow as a tourist destination in the coming years.
The company also highlighted Brazil's economy, its self-sufficiency in terms or resources like oil and its ecological diversity as aspects which could attract potential investors.
The north eastern resorts of Pipa and Natal were recently recommended to anyone uncertain of where to make a Brazilian property investment by Samantha Gore, spokesperson for property information company uv10.
She said that both areas have excellent potential for tourists who flock there to enjoy the pristine beaches and, as such, may be ideal for purchasing a villa or apartment.
Meanwhile, the Times also recently lauded the north eastern region, which it said is where most savvy investors are heading.
It pointed out that developments are springing up along the 1,000 miles of coastline from Salvador to Fortaleza.
"The attractions are obvious: long, pristine white-sand beaches, temperatures that reach 30 degrees C in January and February, low living costs and properties that are up to a third cheaper than their equivalents in southern Spain," the article pointed out.
Felipe Cavalcante de Melo Lima, president of the Association for the Development of Tourism and Real Estate in the Brazilian north east, told the newspaper that some investors have seen capital appreciation of more than 1,000 per cent in five years.
Anyone considering making an investment in Pipa, Natal or any of the north eastern locations mentioned here will need to obtain a CPF or tax identification number from the Brazilian embassy.
Without a permanent visa, visitors can stay for up to 180 days a year.
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