Fortaleza offers ‘gift’ for Brazilian property investors
The short-term rental market in Fortaleza is a "gift" to Brazilian property investors, according to an expert.
Ronan McMahon, writing for Nuwire Investor, says: "Buy quality preconstruction and you will enjoy the prospect for capital appreciation during construction. On completion you could enjoy some of the strongest rental yields I have ever seen."
He says condo prices in the area are up by 20 per cent and it is becoming increasingly popular with people from Europe looking for retirement homes.
Mr McMahon expects rental demand to continue to rise in the next few years, suggesting that the reason for this is a lack of good-quality hotels available in Fortaleza.
He adds that tourist numbers are growing and the local economy is expanding faster than other areas.
Meanwhile, Samantha Gore, sales manager at uv10, recommended Natal and Pipa to Brazilian property investors, saying these areas have benefited from recent significant investment in infrastructure.
