Brazilian Island Draws Big Investment

Brazil’s southern island of Floripa, also known as the Island of Magic, is a retreat for wealthy property owners, and more reasonable prices on the island are attracting …

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Brazil’s southern island of Floripa, also known as the Island of Magic, is a retreat for wealthy property owners, and more reasonable prices on the island are attracting even more money to its shores. Realtors at uv10 report that prices are up 10% on the year and that the rate of growth is expected to continue for the foreseeable future. Located 450 miles southwest of Rio de Janeiro, Floripa is compared to Hawaii in its landscape and Ibiza for its bars and nightclub scene. The city has about 500,000 residents and is considered a very clean, modern and upscale place to live. The average price for a two-bedroom, two-bath apartment start at around $500,000, and rentals are also available at many condos. For more on this continue reading the following article from Property Wire.

Known as the Island of Magic, the affluent southern Brazilian city of Florianópolis (Floripa) has seen some steep house price rises in recent years.

They are up around 10% year on year and the trend is set to continue, according Samantha Gore, sales manager for Brazil based estate agents uv10.

‘Whilst the volume of sales has slowed a little since the onset of global economic crisis, those prices keep rising. Two strong factors underpin this resilience. The first is that most of Floripa is set on an island which cannot be expanded, so property is a finite resource, a rare commodity.  The second is that most of the island’s luxury homes were bought outright without mortgages, before finance was even available, and vendors have always been able to sit tight until they achieved their full asking price,’ she explained.

Some 450 miles southwest of Rio de Janeiro, Floripa is regarded as a safe, modern, clean city with a fast growing population now numbering almost half a million. It is a favourite with affluent Brazilians and those foreign tourists who are in the know and as a result has some of the most expensive properties in the whole of Brazil.

It is described as having a landscape like Hawaii and an Ibiza style vibe with beach bars and nightclubs spread along the island’s 33 mile length to create a year round party atmosphere.  Meanwhile many of its 42 white sand beaches provide hotspots for year round surfing and kite surfing.

Gore gives as an example the Marine Home and Resort, a frontline beach complex set in the north of the Island in and up and coming area just seven kilometers form the world famous party zone Jurere International.
 
It has 2,400m square meters of swimming pools and the apartments and penthouses range between 131 and 488 square meters with access to a range of onsite facilities such as tennis courts, a pool bar and lounge, games room, cinema, sauna, spa, gymnasium, children’s indoor playground and party area plus outdoor children’s pools and play areas.

There is also a mini beach, wet deck and footbridge access to the main beach which is very calm with warm waters and ideal for families as well as area that can be used for holding parties and events.

Despite the architects, Renee Goncalves and Robson Nascimento, being the very same who built many mansions in Jurere, prices at Marine Home and Resort compare favourably.  The average price at Jurere is 10,750 Reais per square meter while on the other side at Praia Brava, the average price is 7,500 Reais per square meter.

Prices start from 940,400 Reais, around £288,000, for a two bedroom two bathroom apartment. From December to February in particular, rental potential is high, up to 1,250 Reais per day (£384) for a four bedroom home.

This article was republished with permission from Property Wire.

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