There are lots of reasons to be optimistic about the economic prospects of Natal as we move into 2013.I will outline just a few that I consider to be vital for the sustainability of the region for years to come.I have also picked out the top 3 property investment opportunities for the coming year.
What are the big changes in store for Natal in 2013?
New airport,New football stadium in place for next years World Cup.
There was widespread surprise when Natal was voted as one of the 12 Brazilian cities to host the world cup in 2014 due to small size,lack of football heritage and proximity to its larger north easterly candidates(Salvador,Recife and Fortaleza).This surprise turned to scepticism as the city fell behind in preparation to build the necessary infrastructure and progress on the new airport seemed ever more distant.
The last 6 months have seen significant improvement/development on both fronts and Natal is now well on the way to completing these enormous projects and enhancing it's prospects for long-term growth of the region.
You can see the new official video of the new stadium on the following link; http://www.youtube.com/watch?v=Ht7iqnFPcAA
The airport is perhaps the most significant infrastructural project in the states history with a capacity for
-)6million commercial passengers per year(more than double Rio Grande do Norte's population)
-)cargo facility connecting the whole south American continent to the global market
-)employment for approx 40,000 local people.
The runway is built,the passenger terminals are under construction and the developers(Argentinian company "Inframerica")have a 28year concession to run the airport for profit.
Other major developments for the north side of Natal in 2013 include;
Disney park in Touros(90kms north of Natal)
http://tribunadonorte.com.br/noticia/grupo-projeta-uma-disney-no-rn/231240
New town in Jacuma (35,000homes)(30kms north of Natal)
http://www.polopitangui.com.br/empreendimento.php?lang=en
New Olympic park in Extremoz(16kms north of Natal)
http://www.piniweb.com.br/construcao/arquitetura/grupo-lanca-projeto-de-complexo-esportivo-de-97-mil-m-275178-1.asp
Conditions are ripe for property investment in North-East Brazil in general and Natal in particular(due to the above factors)The currency has devalued more than 20% to the euro/dollar and pound this past 6months providing another boost to foreign investors looking for a bargain!
What are the best property investments to make this year?
Landbanking
The satellite towns near to the city and the new airport are expanding at phenomenal rates.Land is still plentiful and relatively cheap in these newly formed urban areas.
For example we have just purchased a 5 hectare land parcel(50,000m2)in the town of Extremoz(16kms north of Natal and 18kms from the new airport)We plan to subdivide the land into 160smaller plots(10x20mts)for re-sale to the domestic market.
The town will have a new high-speed train installed for a 20minute commute into Natal plus a new Olympic park(see link above)An area like this is absolutely ripe for investment as land values continue appreciating rapidly.
Social housing development(minha casa minha vida)
While sales for middle-high priced city apartments have reached their peak,the market for low-cost housing has seen a phenomenal increase in demand this past year and is set to continue into the new year.This has proved the most popular property investment in natal for 2012.Small and large Brazilians investors alike are building low-cost homes to mortgage backed first time buyers using the hugely popular minha casa minha vida program.1 million new homes have been built in the past 3 years and the federal government plans to finance an additional 2million home buyers by 2014 in phase 2 of the program.Developers cannot build fast enough in some of the commuter belts of the city.More and more foreign investors are looking to participate on the development side.
Discounted Beach homes with ocean views
The economic downturn in Europe and the U.S finally reached the shores of Natal last year as vacation home owners(especially portuguese and spanish)slashed prices to offload property assets and recoup some of their capital.Opportunites abound for attractive beach homes in fabulous locations with some newly built luxury homes selling for 50% of previous asking price(see one example below)Now is the time to capitalise on these bargains before the market starts to pick up again later on this year.
2013 is destined to be yet another exciting year for property investment in Natal,the city of eternal sunshine!
Please contact me directly for any information relating to any of the opportunities mentioned above.
You will find alot more special offers,practical advice and useful tips on;
This Blog;http://brazilbeachhouse-wwwbrazbeachhousecom.blogspot.com.br/
Our Facebook page;http://www.facebook.com/pages/Brazil-Beach-House/126654720715275
Our Website; http://www.brazbeachhouse.com/
Have a great 2013 and look forward to hearing from you soon!
Mike Smith
Professional RealEstate Advisor in Natal/Brazil
CRECI license; 3125
SKYPE; mikebrazilbeachhouse
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