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Overseas Property Investors Cause Brazilian Boom

The dynamic city Recife on the Atlantic coast is undergoing a building boom as thousands of overseas investors and expats have discovered it is a great place to buy property for a holiday or retirement home.Sun, sandy beaches, year-round warm weather and friendly people await those who visit or buy property in the northeast Brazilian city of Recife.

Recife takes its name from the many offshore reefs (recifes, in Portuguese) that provide an idyllic beachfront for the city. The most well-known beach is along Boa Viagem, just south of downtown. This 6.5 kilometer stretch of land is also where most of the new high-end development is happening, and the place to find excellent deals on apartments and condos.

New apartments that have spectacular views of the beach and ocean run from 5,000 – 7,000 reals per square meter, which is approximately US$244 to $342 per square foot. One new project nearing completion is the Brennand Plaza, a glass and steel building that has four-bedroom units and lots of room for larger families or those who like to entertain. Brennand Plaza developer Marcos Roberto Dubeux was recently quoted in the New York Times, saying that “Avendia Boa Viagem is the most exclusive address in north-east Brazil.”

That is just one of the many new properties and developments in and around Recife. This exciting city is an ideal destination for international property buyers.

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Brazil Blog

17/07/2009

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