Brazil’s Sossego Bay – Possibly the Best £40k You’ll Ever Spend
Choosing an emerging market for a second home is a wise move, but there’s one way to better this, and that’s by identifying an emerging locality within that market. The northeastern Brazilian state of Paraíba is currently near-undiscovered land but its time is about to come. Less than 40,000 pounds will buy a two bedroom apartment in Sossego Bay, it could be the best 40,000 pounds you’ll ever spend.
Paraíba has a lot to boast about. Its capital city, Joao Pessoa, is the first city in Brazil to see the sun rise holding the accolade of the most eastern city in the Americas and therefore only three hours behind London, it’s also one of the oldest Brazilian cities founded by the Portuguese in 1585 and trivia lovers will feast on the fact that thanks to its natural forests, squares and gardens, it’s the second greenest city in the world after Paris. Paraíba’s coastline is also green, fertile and charaterised by natural lagoon pools and clean calm beaches protected by stunning barrier reefs. It’s little wonder that international interest has been sparked and Paraíba Tourist Board confirms that tourist arrivals are up 80% on this time last year.
Some 40km south of Joao Pessoa is Praia Bela which literally translates as ‘beautiful beach’ and could not be more aptly yet simply named. This tranquil refuge from the hassles of life marks the spot where the ocean meets the river giving the chance to kayak, swim or fly-fish in the freshwater pools or surf, snorkel or enjoy a dune buggy ride along the ocean. Dotted by rustic beach bars serving up fresh seafood and famed for being a spot for green sea turtles to gently lay their eggs, Praia Bela is welcoming and most certainly addictive.
The resort of Sossego Bay occupies softly sloping land just 500 metres from the beach itself providing each apartment with incredible views across the Atlantic, estuary and rolling Paraíban countryside. The compact development of studios and two bedroom apartments marries top quality facilities such as a 34 metre swimming pool, bar and barbecue area and games room together with outstanding services from maintenance to cleaning and security to laundry.
The investment case for Sossego Bay is two-pronged. Firstly, with prices from £37,950 for a two bedroom apartment, the only way is up. Capital appreciation is already strong but several hundred million pounds-worth of investment is earmarked for this coastline to include a multi-faceted golf and marine resort with hotels, Spa, convention centre and an 18-hole golf course just five kilometers from Sossego Bay. Similarly improvements to road infrastructure and bridges spanning the natural lagoons have been significant. Secondly, Sossego Bay offers on-site rental administration and the possibilities for year-round occupancy from Brazilians and international audiences are strong.
Recife International Airport one hour to the south is already well-served by major airlines direct to Europe and the United States but nearby Joao Pessoa has just earned international status for its airport and comprehensive remodeling and expansion is well underway at this facility.
Prices at Sossego Bay start from £37,950 for a two bedroom apartment and payment terms are a £2,000 deposit followed by 40% at contract, 20% at first floor, 20% on topping out and 20% on completion scheduled for Summer 2009.
News submitted by Sarah Drane, GEM Estates
