The boardwalk is the most desirable location in Fortaleza
1. Fortaleza, Brazil
The pitch: Where to start? There’s so much positive news from Fortaleza: A new, 10,500-acre, duty-free zone…a record number of new jobs…air cargo up 68.9%…airport passenger numbers surging 34.5%. This area has outperformed the rest of Brazil for the last 15 years. It’s a booming hotspot in a country that’s on the up. It’s also the #1 domestic tourist destination for Brazilians, and home to some of Brazil’s finest beaches.
Executives for the companies in the new duty-free zone will need accommodation. But there’s already a shortage of hotel beds and short-term rentals in downtown Fortaleza, especially on the boardwalk. It’s where everyone wants to stay… executives, business travelers, and tourists alike. There’s a lack of developable land here, too.
The play: The World Cup. Fortaleza is a host city for the next World Cup in 2014. Plans call for a $5.6 billion dollar investment in tourism infrastructure and amenities, with work already underway on Latin America’s biggest aquarium, and Brazil’s second-largest convention center. Of course, the World Cup means even more tourists competing for hotel beds and short-term rentals. You can profit…by buying smaller units on the boardwalk, such as those in Landscape.
Occupying a prime position on the boardwalk, Landscape will have hotel-class amenities and luxury finishings. The building’s smaller 40-45 square meter units are perfect for short-term rental for tourists, business executives and World Cup aficionados. Current pricing starts at 267,210 reals ($151,787) for a 40.27 square meter, city-view unit. You’ll pay 101 equal monthly payments–and there’s no down payment. Construction started recently, with completion scheduled for the end of June 2012. Rental yields could reach double-digits on completion. Contact Daniel Neves here to find out more.
2. Riviera Maya, Mexico
The pitch: The Riviera Maya runs south of Cancun to Tulum in Mexico. Neon-turquoise ocean laps sugar sand crescent beaches…and the rich jungle interior reveals ancient Mayan ruins and exotic wildlife. Offshore, the world’s second-longest coral reef teems with brightly-colored tropical fish.
In 2009, 2.9 million tourists visited the Riviera Maya. A government infrastructure plan calls for this to increase to 18 million by 2025. In March, President Felipe Calderon kick-started the Tulum airport project. Once opened, the airport should accommodate 3 million visitors.
Our play is 15 minutes from the site for the planned Tulum airport. With 3 hotels, powder beaches and clear Caribbean water, the resort also boasts a choice of dining and entertainment, and a 27-hole golf course. Better yet, the resort has 2700 rooms…but it needs 3,000. And that’s where the play comes in…
The play: Fixed and guaranteed rental income. The resort’s hotel operator needs 300 more rooms, so the developer of Sian Ka’an is building 300 condo-hotel units. The first phase is almost complete. The 56-square meter, $159,000 units come with a full furniture and appliance pack, worth $18,000. Better yet, they come with a fixed guaranteed rental yield from the hotel operator. You won’t have to look for renters, or pay condo fees, utility bills, repairs or maintenance, during the lease. You’ll get paid quarterly fees, and a yield of up to 6%.
Of course, there’s a downside. With phases one and two sold, only 10 units are currently available in phase 3 (the final 30 units in phase 3 will be sold later this year; prices for those units are expected to be substantially higher). Find out more here.
Editor’s note: Author Margaret Summerfield is a director of Pathfinder (International Living’s preferred real estate advertiser). Pathfinder’s mission is to scout the globe to find the most unique and value-oriented real estate opportunities the world has to offer.
