Best Prospects For Brazilian Real Estate in North East by Obelisk International News
Brazil is seeing changes in its current property situation, particularly in the south east around Sao Paulo. Here, prices have risen by 30% over the last year and some Sao Paulo real estate is more expensive than prime property in the US. Various metropolitan districts are also experiencing a slowdown in new developments.
But in this huge country, the south east corner is just a part of the whole and to get the bigger picture, you need to move away from the heavily-populated south east. In the north east of Brazil, the property market continues to boom, as more and more international and Brazilian developers including Obelisk International have discovered.
Overload in Sao Paulo
As the largest city and the country’s financial hub, Sao Paulo is naturally the scene of most property development in Brazil. The recent high level of real estate activity has led to the most expensive property prices in the country and a temporary overload in the market with many developers choosing not to launch new projects.
Prices have soared so much that prime property in Sao Paulo is in some cases more expensive than the equivalent in New York. The lack of new builds in the city has led to the recent cancellation of the annual Sao Paulo Property Exhibition held by Secovi-SP. However, most analysts agree this situation is provisional since intense local demand for property in Sao Paulo will continue to drive new development forward.
North East is Business as Usual
In the north east of Brazil, it’s a very different story with the region suffering none of the problems facing Brazilian real estate developers in Sao Paulo. While lack of building space in Sao Paulo has led to exorbitant land prices, availability of land is not a problem in north east Brazil. Here, there is plenty of building land and the recent boom in the number of new projects reflects this situation.
The middle classes in states like Rio Grande do Norte and Bahia drive demand for property. This demand is apparent at all levels including the lower middle classes who qualify for the social housing programme, Minha Casa Minha Vida. The programme has divided its nationwide allocation of 3 million homes into regions with 34% of units going to the north east and 37% to the south east. This very similar allocation proves that north east Brazil has comparable potential for those planning investment in real estate in Brazil.
“Huge demand is undoubtedly the main factor behind the long-term potential for the real estate market in Brazil,” says Gary Hardacre, CEO at Obelisk International. “For many Brazilians, owning their home is still an unrealised dream and while this situation continues, so will opportunities for investment.” However, Obelisk International, firmly believes that the best opportunities for investment in Brazil at the moment are in the north east, which offers a more stable long-term future than the big cities in the south east.
About Obelisk International: Obelisk International offers select investment opportunities in Brazil in a range of sectors such as residential real estate, construction and social housing. Obelisk 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 Brazilian investments and to find out about Obelisk International’s latest opportunities for investment in Brazil, contact us on 0034 952 820 319. Via email: email@example.com or visit our website: www.obeliskinternational.com. Follow us on Twitter – Obelisk International and Facebook.
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