Professionals snap up property in Fortaleza, dominating the market. Low interest rates and high consumer confidence point to a good start to 2018
When it comes to foreign investment, tourism and real estate, some regions of Brazil are moving faster than others. This is certainly the case in Ceará, Northeast Brazil, a state registering high volumes of investment and buoyant business tourism figures.
The Brazilian property market produced a set of very positive figures in July proving the scenario for real estate generally is back on track.
Buyer preferences for property in Fortaleza are changing. With better access to the city and growing affluence, buyers are moving away from apartments to houses. The desire for space, privacy and security has led many to turn their attention away from the city centre and look outside Fortaleza for property. This BRIC Group news piece explains why.
Luxury property in Brazil remains untouched by the economic crisis although preferred locations have shifted. Northeast Brazil and Southeast Brazil now dominate searches with high-end property in Fortaleza the most sought-after.
Price rises for property in Fortaleza during Q3 this year were the second highest in the county and well above the inflation rate. Rental rates also rose in this Northeast Brazil capital where demand for property easily exceeds supply.
With a low inventory, pent-up demand and record levels of new mortgages, property in Ceará, northeast Brazil stands out in the Brazilian property market. Market conditions are so buoyant in the state that Ceará property is known as an “oasis”.
The figures just released for employment and property in northeast Brazil highlight that both markets are booming and well ahead of those at national level. The state of Ceará was one of the centres for job creation as well as a hot spot for property.
Latest statistics for 2014 point to a stabilisation in the Brazilian property market. Growth in both house prices and launches are expected to be moderate this year in keeping with a mature market. Experts do, however, predict pockets of higher growth in 2015, particularly in the northeast of the country in areas such as Fortaleza.