Brazilian property at distinctly retro prices

Property prices have rocketed in Brazil over recent years and if investors could turn the clock back 18 months, knowing then what they do now, they would have snapped up several prime units and be feeling pretty smug today. Prepare for some time travel. The Natal resort of Ocean Blue Paraíso has some distinctly retro prices.

Set in the beachfront town of Buzios, some 33km from Natal city centre, Ocean Blue Paraíso is a compact resort of duplex apartments arranged over three floors, the uppermost devoted to a suntrap solarium. Prices start from a quite absurd 86,950 euros – and that’s a turnkey price.

Andy Welland, Managing Director of GEM Estates, comments, “The developer cut an exceptional deal when securing the land and is now able to pass on the benefits to the end user. Prices around the 935 euro per square metre mark are virtually unheard of now in northeast Brazil so the potential to make some dizzying returns is exceptional. A bonus is that the two bedroom homes are delivered turnkey, that is to say ready-to-rent with air-conditioning, kitchen appliances, beds, towels and crockery all in place. Or perhaps at these prices rental income won’t be a priority, you can simply enjoy regular bouts of Brazilian hospitality whilst watching the property market continue its double digit upward trajectory.”

Within steps of Buzios’ sandy beach with its dunes interspersed by sweet water lagoons, Ocean Blue Paraíso has sublime views and the facilities to match. Contained by the gated boundaries residents can enjoy both adult’s and children’s swimming pools, a sauna, sociable communal barbecue, pizza oven and picnic areas, together with Brazilian style walkways and water features weaving throughout the landscaped gardens.

Inside, the homes have living / dining accommodation at entrance level to include a separate utility area, two ample bedrooms on the first floor both with balcony access and the rooftop solarium with an option for solar energy installations. Electronic entry systems, telephone points and a satellite TV connection come as standard – as of course does the furniture.

After completion in mid-2010, once the developer’s work is done, owners are left in the capable hands of Abreu, a leading estate agent in northeast Brazil for over 35 years. They can either value and market your property for sale or maintain and market your property for rental. Abreu’s rental return projection specific to Ocean Blue Paraíso is a more than decent 8.5% to 9.5% per annum.

Buzios takes its name from the small sea shells found on the beach and some locals claim to be able to tell your fortune from the position they settle in when dropped to the sand. One imagines that if you give your address as Ocean Blue Paraíso your good fortune is pretty much assured.

Prices start from 86,950 euros for a two bedroom duplex apartment and payment terms are 3,000 euros reservation fee plus 30% on contract, 20% on foundations (est. January 2009), 30% on topping out (est. July 2009) and 20% on completion (est. mid-2010). Full build licenses are in place.

For more information, visit gem-estates.com