The market for luxury property in Fortaleza is currently riding the crest of a wave. August was a particularly buoyant month with high-end properties dominating sales performance. Discerning buyers look for luxury fittings and top quality construction with many new launches in the city catering directly for this demand.
Properties priced over R$700,000 sold in the Fortaleza metro area was responsible for the strong results in sales in August. “The luxury market is sensational and very heated up,” said Ricardo Bezerra from Lopes Immobilis, quoted in Diario do Nordeste.
Analysts report a significant increase in interest in luxury property in Fortaleza from high-end buyers this summer. Sergio Mecedo, director of Base Engenharia, reported that “demand is much higher and sales are being made”.
Who buys luxury property in Fortaleza
Sensing the strong potential for capital appreciation in the city, investors are moving into the area. According to Diario do Nordeste, there are three types of buyers interested in luxury homes. Pure investors who sense the market opportunities in Fortaleza; professionals such as bankers, doctors and lawyers; and ‘influencers’ who are connoisseurs of market conditions.
This type of buyer values high-end quality and finishes in a luxury property. They also prize comfort and convenience.
Boom in high-end property
Fortaleza is currently experiencing something of a boom at the high end of the market. In the year to August, ten luxury developments have been completed in the city and outskirts. They’re located in districts such as Meireles and Aldeota, and include Caucaia in Cumbuco.
Launches of new developments of luxury property in Fortaleza are also underway. Meireles and Aldeota feature, again, as the favoured neighbourhoods.
Types of luxury property
For local property agents, the market distinguishes between three types of luxury property in Fortaleza. At the lower end are properties priced between R$700,000 and R$1 million, classed as ‘high-end’. Next come so-called ‘luxury’ homes with prices up to R$2 million. And the upper end, are super-luxury properties whose price tags exceed R$2 million.
As well as price, fittings and finishes also feature as a defining factor in the luxury property sector in Fortaleza. “These are what differentiate the properties,” says Diario do Nordeste.
Fortaleza property market
Fuelled by the boom in luxury property, Fortaleza is posting excellent figures all round. In August, the city registered the highest price rises in Brazil, both for month-on-month and year-on-year figures.
And it isn’t just the property market that is bringing Fortaleza to the forefront of Brazilian news. The state economy recently posted GDP growth well ahead of the national rate. Job creation sits among the best in the country and investment continues to pour into Pecem Port.
Furthermore, Fortaleza is set to become one of the major flight hubs in Brazil. Air France and KLM recently chose the city’s airport as the centre for their flights connecting Northeast Brazil to Europe. Direct flights between Amsterdam and Paris, and Fortaleza start next May.
(source: Diario do Nordeste)