Find out what’s happening in the property investment arena both in the UK and internationally
Brazil Attracting Global Developers
April 8, 2010Article by Ray Withers
If there is anyone out there who still doubts the massive potential in the Brazil property market (and it is highly unlikely that such a being exists) then their doubt has surely been crumbled just that little bit further this week when it emerged that representatives of India’s real estate industry will tour Brazil and Argentina to identify investment and development opportunities.
“Both Brazil and Argentina have economies which are identical to the one in India. This will provide us with an excellent opportunity to compare and comprehend the real estate activities happening in these Latin American countries,” said Suresh Patel, president GIHED, a body of developers in Ahmedabad.
The tour will be focussed on Brazil’s main cities of Rio de Janeiro and Sao Paulo, which would seem to indicate that the companies involved plan to target the affordable sector, and/or the high rise sector. Both of which have incredible potential, and will undoubtedly see skyrocketing levels of investment from within and out-with Brazil in the coming years.
Private investors and lifestyle buyers however, have tended to favour Natal as a city and the wider north east of Brazil for their property purchases, according to international property investment consultancy Property Frontiers.
Director of the firm David Cox said:
“Property prices in the north east are a lot lower than the aforementioned cities, but the north east has also seen a lot more activity in terms of developments available on the international markets. This means that there is more information on the north east in the press in the UK and outside Brazil, and more availability of property in north east Brazil than anywhere else in the country. There has also been a massive push on increasing tourism to these parts.
“The fact that Brazil is hosting the 2014 World Cup, and Rio the 2016 Olympics can only increase foreign demand for Brazil property. Natal, being a host city will of course also benefit from the former of the events.”
Property Frontiers are currently marketing the Natal Ocean Club development, one of the premier resorts on the Natal coast. The resort is set in 200 acres of tropical gardens and has 300m of private beach. 1 and 2 bedroom apartments and 1 and 4 bedroom villas are available priced from £138,000 and £318,000 respectively.
The resort is being developed in partnership with the highly acclaimed Preferred Hotel Group, which means rental management and a host of other benefits. Forecasted yields of 12% are expected from year 2 onwards.