This year’s top five destinations for best beachfront investment include the capital of Ceará. Fortaleza turns out to offer myriad benefits to the investor, particularly when it comes to rental potential. The area also has the added advantage of offering value for money in dollar terms.
Best beachfront investment survey
Live and Invest Overseas have just released their Global Property Survey for this year. Summarised by Kathleen Peddicord for Forbes, the survey looks at the cost of living or retiring abroad and compiles a list.
The final five best beachfront investments include areas where expat retirees “would be comfortable and likely to buy”. Specifically, it looks at the prices for 2-bedroom, 2-bathroom apartments with between 70 and 100 square metres of living space.
Highlights of Fortaleza
The survey ranks the capital of Ceará as the world’s third best beachfront investment in 2021. It lists Fortaleza’s attractions including “long stretches of glorious white-sand shores” and “vibrant nightlife”.
It’s also the “quintessential Brazilian beach town”, but offers “big-city amenities” at the same time. The survey highlights the excellent connectivity at Fortaleza Airport making it “easier than ever for North Americans and Europeans to discover the city’s merits”.
Fortaleza best beachfront investment
As well as boasting a winning tandem of excellent beaches and city amenities, Fortaleza offers compelling investment criteria too. The survey emphasises the increase of the Brazilian middle class (up 1% every year) and points out that Ceará has reaped big benefits from this growth.
According to Live and Invest Overseas, Ceará is “a good choice for a rental investment”. Although the Fortaleza property market has appreciated in Brazilian real terms, it has fallen in dollar terms by almost 16%. This creates a “buy-on-the-currency-dip opportunity”.
Latin America a firm favourite
Joining Fortaleza in the league of best beachfront investments are three other Latin American destinations. At the top of the five sits Iskele in Northern Cyprus, chosen for its most affordable property. However, the survey adds that caveat that “politics on the island can be heated” and suggests careful research before investment.
In second place is Santa Marta in Colombia, an up-and-coming beach destination. Here, however, prices are on the rise in dollar terms – they rose by 23% in 2020.
After Fortaleza is Mazatlán in Mexico, a destination comparable to Ceará according to the survey. Ambergris Caye in Belize closes the top five.
Another criteria for the Live and Invest Overseas survey was the potential for rental investment. All five of the markets chosen present good buy-to-let opportunities. In particular, they are “top choices for places to buy for part-time personal use and generating cash flow in the local currency when you’re elsewhere”.
The Coral, offering 5-star beachfront investment, includes two buy-to-let apartment options.
- The 1-bedroom loft apartments start at US$82,250 (€67,000) and come with guaranteed rental income of 7% for 2 years.
- The 2-bedroom Ocean Residence apartments cost from US$155,100 (€129,500) and offer 3 years guaranteed rental return of 6% a year.
(Source: Live and Invest Overseas)