Press release
Booming Investment in Brazil's North East
Obelisk Private Investments in Brazil
A favourite for investment, Brazil’s north east corner is enjoying record figures in several areas of its economy. Figures recently released by Brazil’s Statistical Office (IBGE) show that Rio Grande do Norte state saw the second highest levels of foreign investment in Brazil in the first half of this year.
Investment from individuals (as opposed to companies) in Rio Grande do Norte reached US$8.4 million by the end of June. Significantly, investment levels in this part of Brazil accounted for 15% of all investment by foreigners in Brazil and Rio Grande do Norte was second only to São Paulo, one of the country’s largest and most populated states.
Investments in Rio Grande do Norte were mainly in the tourist sector – infrastructure, hotels and restaurants and travel agents – and ophthalmology products. Foreigners most interested in investment in north east Brazil were Italians, Portuguese, Spanish and American.
Real estate is a top Brazilian investment and Rio Grande do Norte is once again a favourite destination. According to the Natal newspaper, Tribuna do Norte, this year has seen a record number of new builds and property launches. At least 8,000 properties with a value in excess of R$2 billion have entered the market in Rio Grande do Norte so far this year, more than doubling the value of new builds in 2008.
All property development companies in Rio Grande do Norte are experiencing record demand for properties. Tribuna do Norte quotes one developer who recently sold 150 apartments in a newly-launched development in just a week. For Sílvio Bezerra, President of the state construction union Sinduscon, “this is a market for the buyer”. The availability of finance is key to the booming market for Brazil real estate. Easy-to-obtain mortgages mean that nowadays at least eight out of ten properties are financed compared with just two out of ten a few years ago.
Mr Bezerra sees no sign of the market slowing as demand continues to be exceptionally strong. However, he points out that the shortage of labour and construction materials could be a potential problem and says that many developers are getting round the issue by making building material investment a priority.
Behind the demand are Brazilian consumers whose steadily increasing purchasing power means they can now afford to spend. Average income in Rio Grande do Norte has grown by almost 78% over the last seven years to reach R$703 a month. As a result, north east Brazilians are buying more consumer goods – households with landlines and mobile phones have more than doubled since 2003.
And the Brazilians are also investing in property – the number of properties in Rio Grande do Norte increased from 59,000 in 2003 to 192,000 last year. And with the area’s ongoing investment in real estate, this figure will continue to increase markedly.
From the very beginning, Obelisk earmarked the state of Rio Grande do Norte as a focus for investment in Brazil. For us, the area brings together essential investment criteria to allow for high returns. The latest figures on foreign investment, consumer spending and property launches in this part of Brazil more than confirm this potential.
About Obelisk: Obelisk offers select investment opportunities in Brazil and gives investors security, profitability and diversity thanks to a combination of close attention to our clients' investment requirements and high quality in-house research and analysis.
For more information on investment in Brazil and to find out about Obelisk’s latest projects there, contact us on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
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