Maceio Brazil New Property Hotspot Alert

So you’ve heard that real estate in Brazil is making waves amongst the oceans of overseas property. To date much of this interest has been focused on Natal, the North Eastern State capital of Rio Grande Norte but take note, hot on its heels is Brazil’s answer to Miami…..Maceio! A beachfront metropolis located two states lower down from Rio Grande in Alagoas, a a small state sandwiched between Pernambuco and Sergipe.

Whilst business may be brisk in Rio Grande Norte, baby brother Alagoas is also a state that is yet another enticing option for European buyers seeking a piece of Brazil’s spectacular climate, picture postcard beaches but importantly, the chance to be a part of the country’s runaway economic success.

In recent Independence celebrations, Brazil has been revelling in more than just its independence back in 1822 but also its modern day success as a nation on the world stage shaking off the shackles of economic and political turmoil and emerging as a bright star, set to share world economic dominance by 2050. Brazil’s fortunes are on the up with its GDP on target to grow by over 4% again this year. Part of this growth can be attributed to a booming tourist sector with a 134% increase in visitor numbers between 2002 and 2005. The World Travel and Tourism Council announced earlier this year that travel and tourism demand in Brazil is now growing at annual rate of 7.2% and it is the increasing contribution of its Northeastern state which is catching the eyes of overseas property investors and vacation homeowners alike.

On the back of healthy tourism figures, the demand for property is soaring as greater numbers of individuals seek tourism accommodation. This has a knock-on positive effect on real estate prices and rental yields as word about the regions desirability continues to spread.

Maceio is a state capital city enjoying the transition from sleepy little port exporting coconuts and sugar cane to holiday Mecca. Over the past 20 years, its stunning beaches, lagoons and vibrant night life have led to Maceio becoming known as “the paradise of waters” and has regularly been attracting city slickers in search of localised holiday downtime. The coast boasts a tropical climate averaging 25°C whether its June or January, making it the perfect backdrop to the verdant green landscapes of a coast bordered by fringing coral reefs and the city’s superb beaches lined with coconuts palms and cementing its year-round holiday season. Well known local hotspots include Ponta Verde, a tip of land covered in green palm trees located to the south of the city which today is one of the most frequented beaches in Maceio and Pajuçara, infamous for its floating bars, child-friendly beaches and rich snorkeling territory. The northern coast is also attracting significant European investment in the form of beach home resorts aimed at tourists wanting to make Maceio their holiday home.

This residential investment trend is underpinned by rapid commercial investment from high profile international hotel chains which include Intercontiental Hotel, Accor and SolMelia, which in its 2006 3rd quarter results reported the north-east of Brazil as being “extremely important from a strategic standpoint as was Punta Cana in the Dominican Republic 20 years ago” and why the hotel chain on the back of positive support of the local authorities perceives it to be one of the resort areas with high-growth potential in the coming years. Sol Melia is subsequently reinforcing its presence as the 2nd hotel chain in the country, adding to its already 24 city hotels in destinations such as Sao Paulo, Rio de Janeiro, Brasilia, Porto Alegre, Fortaleza and a five star operation in Maceio, all of which it believes will start to contribute significant future revenue streams circa 2009.

In a similar fashion to the way Spain’s premier tourist destination, Barcelona, transformed its fortunes by giving its port area a complete face-lift, the old Port of Jaraguá hopes to achieve the same goals. Once the commercial and economic heart of Maceió and whilst still important today, greater emphasis is being placed on its exquisite 19th Century buildings, many of which are undergoing restoration and which has prompted a revival from an area of deprivation to one of significant architectural interest whilst landmarks like the Rei Pele football stadium are a testament to the true essence of Brazil and the beating heart of modern city sporting culture and the Universidade Federal de Alagoas is one of the regions main research centres adding yet another dynamic to the city’s future youthful expansion.

Development is an ongoing theme in Maceio and the city and State of Alagoas as a whole are set to benefit from a stunning designer airport complex with opened in June 2006 with a runway of 2600m, with the aim of being able to accept major international aircraft like Boeing 747. From a panoramic deck, chapel to space for art exhibitions the airport is embracing new technological advances including the “Aeroshopping” concept making it a centre leisure and high-quality products and services. Aside from it being an architectural marvel, the arrival of the Zumbi dos Palmares International Airport, Maceio’s response to growing passenger demand, has been triple in size its new passenger terminal to cope with arrivals expected to grow to 1.2 million passengers a year from current annual transit figures of 750,000 passengers and 20,000 airplanes. The airport also services frequent flights to the main Brazilian cities, in addition to a growing army of charter flights to Argentina, Portugal, Italy and the UK.

As a well established beachfront city, Maceio may be a newcomer to Brazil’s real estate boom, but has long since been a runaway tourist success domestically. In a place where a caipirinha sets you back just 50p, the warm, emerald-blue waters of the Atlantic Ocean lap against 2000 miles of uninterrupted white sand beaches, untouched by the hoards and masses, Maceio brings together religion, history, culinary tradition, leisure, entertainment and a vibrant local culture blended into a melting pot of what’s best about Brazil tempting you to buy but maybe even stay forever.