Demand grows for luxury property in Ceará

Demand grows for luxury property in Ceará

The market for luxury property in Ceará continues to attract high demand, both for first and second homes. Within the state, the capital Fortaleza takes the lion’s share of the market. However, new locations have appeared on the high-end buyer’s radar. They include exclusive beach locations such as Flecheiras and Fortim.

Growing market for luxury property in Ceará

On the back of high demand during and after the pandemic, the prime residential sector in Ceará has consolidated. Developers specialised in this type of real estate are projecting new launches in Fortaleza and coastal locations.

“Demand for luxury real estate in Ceará has been higher than usual since the pandemic,” explained Patriolino Dias, President of the Ceará Civil Construction Union (Sinduscon-CE). He cites the ten developments in the Meireles district in Fortaleza as an example. All had apartments with over 300 square metres and sold quickly.

“This sector usually has scope for limited growth since it’s unusual for someone to buy more than one luxury property,” he said. “However, this scenario has changed, particularly demand for second homes.”

New locations for luxury property in Ceará

According to Días, buyers of high-end properties have specific preferences for location. Within the state, Fortaleza is the first choice for many buyers, their top picks for districts usually being Meireles and Beira Mar.

However, attention has shifted to other parts of the state, particularly its pristine coastline. “People are now looking for high-end property on the beach,” said Dias. Chosen locations include Flecheiras to the north of Fortaleza and Aquiraz to the south.

Characteristics of prime residential in Ceará

This type of property costs in excess of R$1.5 million and comes with certain features. They include high-quality finishes and communal areas with a pool and gym. At least one parking space is a must, a characteristic that the most luxurious properties in Ceará take one step further by including a car lift with direct access to the apartment.

A prime location is another essential requirement among buyers of high-end real estate. In addition, views count as one of the most highly sought-after features in a home. The better the view, the more expensive the property, with sea views ranking as the best.

Strong potential for the future

“Prime property is always in demand, independently of the economic scenario,” says Joao Fiuza, President of a Ceará development company, interviewed in Diario do Nordeste. “There’s a continual window of opportunity because successful new generations always appear and want large, high-end homes.”

Ceará developers and real estate agents believe that prospects for 2023 are good. They base their predictions on two strong years in 2021 and 2022 for the luxury sector. As a result, they believe demand will remain high next year. (Source: Diario do Nordeste)