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Goldman Sachs Forecast is tipping Brazil for big things
Tourism in Brazil has always traditionally centred round the larger cities in the south and southeast, predominantly Rio de Janiero and Sao Paolo, because of their well-publicised attractions, international airports and plethora of places to eat, drink and sleep.
The beautiful enclave of Natal has been the subject of a National Tourism Plan to promote the area worldwide, making now an excellent time to invest. With an increase in direct flights from most European destinations, as well as the construction of Natal airport, due to be opened in 2010 and the largest airport in South America, the northeast of Brazil has started to make its mark as a must-see destination. Not only is this region popular with foreigners, but is the destination of choice for Brazilians themselves. That makes Natal a good bet for property investors with a steady supplier of residential and external tourism.
Of its massive 180million strong population, 1.7million Brazilians visit Natal each year. Easily one of the most up and coming cities in the northeast, 90% of the overall rental market is sourced from the home market. It is particularly seeing a surge in the high-end tourist market from the rising band of affluent Brazilians emerging because of an increase in real wages.
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Goldman Sachs is tipping Brazil for big things. In fact, the sultry South American country is fast developing an impressive fan base. The investment bank believes Brazil is on course to be the 5th largest economy in the world by 2050. Not bad for a nation plagued by 40-years of financial instability. A host of policies have been put in place to ensure the fast growing economy continues to thrive, which makes buying property in Brazil ever more appealing. These are wide ranging, from a measure to limit government borrowing to fewer restrictions on foreign investment.
Hoy, 32, has spent £220,000 on the one-bedroom pad at Laguna Beach in Natal province on the country's north-eastern coast.
Some years back the main tourist destinations were Rio de Janerio and the more famous destinations like Iguassu falls.These tourist hot spots attracted a lot of tourists and still do, but the cost of the holiday package (flight + hotel) from Europe turned out to be unaffordable for some people, even though the cost of living prices like food, dining out and entertainment are still quite affordable .
International investors are impressed by holiday apartments and chalets at Praia Bonita due to their excellent buy-to-let and resale potential in a managed holiday resort complex. In addition to being located just south of Natal, northeast Brazil's major emerging tourism area, Praia Bonita offers investors some effective exit strategies: high rental potential as well as the 2 years' guaranteed rental at 5% p.a. thrown into the deal. As importantly, a ready foot-flow of buyers from amongst the tourists renting on the resort will greatly boost these units' resale potential.