Introduction
Fortaleza in northeast Brazil is a city famous for its small size, laid-back lifestyle and comfortable year-round sunny climate. Brazilians are flocking to the city for a better quality of life and the demand for superior housing from the country’s growing middle class is on the increase.
Although Fortaleza is one of the safest cities in Brazil our spacious 2-bed, 2-bath apartments are located within a large gated community packed with amenities and guarded by 24-hour security.
We have secured a massive off plan discount to market value of 37%, meaning that these great apartments are available from just €74,655. We have also negotiated a staged payment scheme allowing our investment property purchasers to spread their payments over the next two years, making this slice of paradise affordable to all.
37% under market value
We have secured a great discount to market value of 37%. This is confirmed by comparable prices of similar developments in the surrounding area. With average market prices of around €950 per m², our prices at Quintas das Fontes average at just €596 per m². This means you can secure a top-quality apartment in the development from just €74,655.
Staged payments
Not only is the price attractive in Quintas das Fontes, but we have negotiated a staged payment plan that spreads your payments over 2½ years. As mortgages are currently not available to foreigners, these staged payments are preferable to having to pay a lump sum upfront. A deposit of 20% is required, followed by four half-yearly payments of 15% and a final 20% payable on completion in January 2010.
High quality apartments
Quintas das Fontes is the first development of its kind in this area of Fortaleza. It is on a large site of 290,000m² and will consist of apartment blocks, villas, two shopping and restaurant areas, a supermarket and lots of parkland areas. There will also be a number of communal facilities including swimming pools, a gym, jogging paths, a football pitch and a helipad. Quintas das Fontes is a gated development which is a very attractive feature to Brazilian buyers.
Great Location
Fortaleza is the capital of Ceará state. It is a growing city of 2.4 million inhabitants and is a major manufacturing centre. It is also an administrative hub for the region and home to many government offices and industry headquarters. Quintas das Fontes is located in the up-and-coming suburb of Eusebio, 8km from the centre of the city and close to the beach resort of Praia das Dunas, the international airport, a brand new golf resort and a major shopping mall.
Strong onward sales market
Brazil’s middle class is growing. According to a recent survey, the middle class is set to grow by 64% by 2015. On top of this it is estimated that the nationwide housing shortage is some 8 million units, while demand remains high, encouraged by the increasing availability of mortgages and falling interest rates. This creates a strong onward sales market, and pushes prices up.
Quality of life
It is recognised that inhabitants of the major cities of Sao Paulo and Rio de Janeiro wish to relocate to places like Fortaleza to escape the traffic, pollution, crime and frantic pace of life. Fortaleza is a small, compact city, with beautiful beaches on its doorstep, less traffic and crime, and where the pace of life is more laid back. There’s a better quality of life here.
Strong investor security
Brazil has a unique legal system to protect investors, which makes it an incredibly safe place to buy. To minimise risk and protect them from unscrupulous developers, laws have been passed in Brazil to protect property investor’s money. This has made the Brazilian property buying system one of the safest in the world. As soon as the developer registers his plans with the land registrar, the ownership of the development shifts to the investors. Should the developer not keep to his plans, even down to the selection of the bathroom suite, the investors have the right to remove the company from working on the development and replace them with one more acceptable.
Local exit strategy
We always strive to find developments where there will be a balance between the number of investor-owned units and locally-owned units. This helps to prevent a glut of properties being released by investors into the market at the same time. Of this development’s 1,500 units, ours are the only 80 being released to the foreign investment market. They will likely be the only apartments not bought as owner-occupied homes – this is a very favourable balance for investors that helps keep demand strong when the time comes to sell.