With a relatively stable political structure and enviably healthy economy derived largely from foreign investment in residential real estate and oil reserves, the Latin American giant Brazil is, it seems, bucking the global crisis affecting many markets around the world and emerging something investors dream. In fact, it was named world's most significant emerging market in the respected Morgan Stanley Emerging Market Index recently. Beleaguered global financial markets are looking at Brazil's economy with admiration as it seems.
"Central Bank of Brazil considers that underestimated the strength of its economy and moved its previous forecast of 4.5 percent GDP growth for 2008 to 4.8 percent, " says Samantha Gore from uv10, Brazil property specialist company based in Spain. "Having studied figures just released which show Brazil's current GDP to be 749000000000 pounds in 2007, up 5.4 percent compared to 2006, official number-crunchers have decided that I was too cautious.
Brazil does not seem to be resistant to turbulence in the northern half of America, the turbulence that has sent shockwaves across Europe. And while Spanish property market is currently down to luck, Brazil has the very same to thank for making a great contribution to instant happiness ."
Its property market is still very much in its infancy, however. Prices are still well below the £ 80K mark in most areas, and is expected to yield a good rate of capital growth over the next few years as current demand way outstrips supply.
Estimates suggest capital growth could be as much as 20 percent over the previous year. Nearly eight million new homes are needed to cater for the country's growing population, but while its cities like Sao Paulo and Rio de Janeiro may be home to the largest number of its inhabitants, to the north-east area which has seen a surge in investment in property.
Much of the current real estate development is focused on the Rio Grande do Norte region in the north-east coast, especially around Natal, the capital of the region. The city is widely regarded as having some of the finest palm-lined beaches and bays in the world, which stretch for 400 or more miles. The coastline is characterized by a chain of sand dunes, including Genipabu Tibau do Sul dunes that have bars and restaurants dotted along its length, and bays and Pipa Pirangi. Small resorts are springing up, although the whole area is still new in terms of property development.
Uv10 is currently marketing more than the development of the north-east. Among them, Quinta da Lagoa place from 83 high-spec studio, townhouses and bungalows that the company says is ideal for renting. Located in Tibau do Sul, near Natal, development guarantees five per cent gross per annum for three years from delivery. "Judging by the data from its sister resort, Pousada dos Girassois in Pipa, which enjoys a 80 percent annual occupancy, you can stand to make a lot more, " said Gore. "Girassois is one of the most successful developments in Pipa and the value of property for sale in Pipa has doubled in just two years." Prices at Quinta da Lagoa start from around £ 45,200.
Approximately 80,000 new homes and apartments are earmarked for the north-eastern region, especially around Natal, to cater for regional population growth and demand from foreigners for second residences. While this makes a great figure of the area is large, however, development is controlled by the government for environmental protection, adding that the area of the appeal as an investment hotspot. Combine that with the potential for some good rental returns from the region all the buoyant tourism sector that has seen significant investment in sport and leisure centers in the past few years, and have an area in Brazil that is becoming more and more appealing.
"the property market in Natal is in its relative infancy and the coastline is almost development-free; supply currently lags far below demand," says Trevor Byrne, GEM Estates' Brazil expert. "New development is springing up with sports and leisure facilities, but authorities are paying great attention to the environment before issuing licenses - aesthetics and stability are of greater importance to them than squeezing every last penny out of every last square meters ."
GEM Estates is currently offering spacious apartments and villas by the sea in Tibau do Sul for as little as £ 75,200 dwellings and villagesthe vicinity Maracajaú of £ 45,000 . His Lago Azul development in Tibau do Sul has a beach front position with ocean view. There are many on-site amenities such as pools and tennis courts. So confident was the company in a project that is offered to all customers seven per cent guaranteed rental return for three years from completion. The company also has Ma-Noa Park in the village Maracajau, near Natal, which is known for its on-site, aqua park and extensive sports facilities, including golf and soccer. Prices are low and capital growth is expected to be high.
"Real estate prices for sale in Natal are incredibly low right now, but out of investment in infrastructure, such as golf courses and the new airport will increase demand for real estate and inevitably trigger natural price hikes, " adds Byrne. "Being the closest part of Brazil to Europe, thus drastically reducing the flying time between seven and nine hours from most European cities, Natal has phenomenal beaches, a permanent summer and year round rental suits both audiences - the pure investor holiday-home Hunter ."
the whole area, which enjoys a glorious climate, has attracted government funding to protect natural heritage and improving tourism infrastructure. The development is closely monitored so as not to detract from the natural wonders. Its cities, villages and small towns are connected to the coastal highway that winds its way through the countryside overlooking the bays and dunes, while Natal's Augusto Severo International Airport has regular flights from Europe. new multimillion pound airport is under construction and should be completed by 2010. This will be the largest airport in Latin America.
further investment has come though like an international sports star Rubens Barrichello, who built a motor sports facility in the region, and David Beckham, football force behind the academy in Natal. The project is a time for when Brazil hosted the World Cup 2014th The region around Natal is also suitable for several large golf courses. Projects such as these increase the region's potential for tourism, and therefore the rental income and capital growth on investment in real estate significantly.
"Investment in infrastructure and general tourism in the north-east of Brazil is significantly in recent years and is set to continue for the foreseeable future, " says Deanne Dukhan, portfolio strategist with special property company Experience International in London. The company is currently marketing of new high specification projects, including Jacuma Beach Resort in Natal where prices start from just £ 63,700, close to luxury beachside destination Praia Bonita, where studios and apartments start from £ 39,070 and the gated community Pipa Paradise, which includes 128 sizable apartments and villas that offer good value at a price of 61.899 pounds.
"The government is committed to developing the area and with the new airport in just a few years away, we believe that property in the Natal area and along the coastline of Brazil offer some of the most exciting investment opportunities we've seen in a long time."
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