Brazil’s new hot property market

I’m facing the ocean. Moon and city light bounces off the breaking waves and the white sand. To my right, three miles of beach opens up. The street market in the middle of the bustling boardwalk is open and it’s buzzing with commerce. Shiny and winking high rises shoot vertically up from the ground. These are the buildings that wealthy Brazilians want to live in.

I’m standing at the edge of the boardwalk outside a trendy new bar. There was nothing here the last time I was in town. Tonight traffic is at a standstill as $80,000 SUVs unload their well-dressed cargo. This is where everyone wants to be—not just for partying…but also to live, do a business deal, have a quiet meal or exercise with friends. Jogging at 5.30 a.m. here is networking time.

This boardwalk of three miles has changed dramatically since the 1980s. Today it’s fully built out. Prices have almost doubled since I first came here three years ago. I expect they will go up further. Demand is surging. Because there is no more developable land all the buyers are competing for the existing inventory.

Members of Real Estate Trend Alert who followed my recommendation to buy here have done very well. To my left I see the wide empty space of Praia Iracema. I’m standing where the boardwalk ends. Iracema is the widest of the city beaches. In places it must be half a mile from the start of the beach (where the temporary beach bars and huts are) to where the waves break. 

The Path of Progress is rolling into Iracema just like it did the boardwalk. This time it won’t take 30 years. Development here is being supercharged as part of a $6 billion investment in tourism and infrastructure.  Trendy bars and restaurants are already eyeing up plots. They want to be open for business in time for soccer’s Confederations Cup that comes in 2013 and the city’s biggest party yet: the 2014 Soccer World Cup.

Bulldozers have cleared drab temporary beachfront structures to create space for a wide boardwalk. The site is being prepared for the new $135 million aquarium . It’s set to be the largest in South America and one of the continents biggest tourist attractions . This is the place to buy.

Source: NuWire Investor

Comments

comments