Fortaleza’s glimmering boardwalk is fully built out. Prices have as much as doubled here in the past three years and they continue to rise. This is the place people want to buy. With Brazil’s booming economy (particularly in Fortaleza) lots of Brazilians can afford to. But there’s no more space to build.
The short- and long-term rental market is strong. One of the executives from a major construction company I met who has relocated here simply can’t find a condo to rent. A member of the Real Estate Trend Alert scouting group who wanted to extend his visit couldn’t find a hotel room or short-term rental. Demand is much bigger than supply.
That’s why, today, we have an opportunity.
As I write the boardwalk is being extended to Iracema beach. This is an area where I have bought and where today’s best opportunity is. A new wide promenade of chic bars and restaurants will seamlessly connect Iracema with the current boardwalk.
The opportunity to buy condo units at Iracema is being made available to members of Real Estate Trend Alert. They (and you, if you join) will get the chance to buy boardwalk—but at 50% off. These thirty condo units start at $115,000. You would pay at least double that along the current boardwalk.
The developer behind the condos is strong. The biggest construction company in this part of Brazil, in fact. They build roads and bridges, as well as condo and office buildings. They are local…one of the city’s biggest companies…so they have the inside track on how Fortaleza is set to develop.
This area was re-zoned last January, bringing the maximum height down to 48 meters. This project was the last to be approved under old zoning laws, at 72 meters high. That means higher floors in this project will always have unobstructed views.
Developer finance is available and members of our Real Estate Trend Alert get specially discounted prices.
I like this deal because you can enjoy a strong rental income with the prospect of capital appreciation.
I expect these units would easily rent to a young professional for $900 per month. That gives you a gross yield of close to 10%. Rent to the short-term market and you could do better if you are willing to work it. Here’s a note I just received from one of my contacts on the ground…
“I wanted to rent a condo here for my parents over Christmas. The minimum stay was one week…owners were charging $2,400 per week. I was too late. None was available. Even at higher prices than that.”
Of course every week isn’t Christmas, New Year’s or Carnival—but the market here is strong year-round. Business people, tourists and even husbands who get their marching orders are always looking for a quality convenient place like this to stay.
Editor’s Note: Ronan McMahon is the Executive Director of Pathfinder (International Living’s preferred real estate advertising partner), which focuses on opportunity for gains in strategic pockets around the world-before most folks have even heard of them. He writes for Pathfinder’s real estate investment service, the Real Estate Trend Alert.
If you aren’t a member of Real Estate Trend Alert, it’s not too late to get in on this deal. Full details were released to RETA members yesterday.