While the Bank of England slashes its growth forecast from Britain and we’re embroiled in the Eurozone debt crisis, Brazil’s economy grew by three percent last year and experts predict a further 3.5% increase in 2012.
So, where to put your money in Brazil? Samantha Gore, sales manager for local Brazil agent uv10.com, says Ponta Negra on the north-east coast, offers the perfect package: white sand, reliable surfing, stunning dunes and lively nightlife.
“We don’t have any hurricanes, there’s good weather all-year round, you can fly from Lisbon to Natal in just over six hours and a new airport’s planned for the World Cup in 2014,” she says.
Prices doubled over the last 18 months and Gore suggests investing in a two-bedroom flat priced from only £56,000 that you could let out to the local market. “It’s solid and safe,” she adds.
New apart-hotel project, Dunas de Cotovelo, costs more (from £170,000), but quiet, frontline beach locations like this one are tricky to get hold of. “You get good value for money, and if you rent out your property you’ll get good returns to pay it off,” Gore explains.
Anthony Fernandes from SPC Overseas says the place to buy a holiday home is Pipa (its beach, Praia do Amor, is pictured) just 75 kilometers from Natal and without all "those horrible high rises", says Fernandez. "It’s a small, coastal town with a good infrastructure, where people come here to see the turtles and dolphins.” He’s selling two and three-bedroom apartments here from £142,000 to £200,000.
Forteleza’s another north-eastern coastal hotspot, but you need to know who you’re dealing with when you buy, warns Fernandes. He also says to think of the local market as part of your exit strategy.
“They feel safer living on a higher floor in a building, like facilities (pool, play and barbecue areas) and the morning sun (after that, it can get quite hot),” he says.