Fortaleza ‘is top Brazilian property investment opportunity’
Brazilian property investors have been advised to look to the north-eastern city of Fortaleza, with an expert naming it as his top opportunity for overseas ventures.
Ronan McMahon, executive director of Pathfinder International, tells TodaysFinancialNews.com that the area is becoming increasingly popular as a retirement destination for people from Europe and says the domestic mortgage market is "opening up".
He cites Fortaleza as his first choice for making money, saying it has "incredible upside potential".
"Condo prices are up by more than 20 per cent since last April and continue to rise. The short-term rental market is running at close to 100 per cent occupancy for the next three months," he asserts.
Mr McMahon recommends buying prime pre-construction developments and suggests that Brazilian property investors look at the areas closest to the boardwalk.
Recently, Frank Crowley, director of Azure Overseas, said that the Brazilian property market is one of the best in the world and stated investment in the country continues to be a good move.
