Yet again, Forbes has earmarked Fortaleza in Ceará as one of the most affordable places to buy property overseas in 2022. As was the case last year, Forbes’ principal reason for recommending Ceará lies in the extra purchasing power. This year, dollar buyers get 7% more for their money and, as a result, can tap into “appealing property options at bona-fide bargain prices”.
Where are the world’s best property values next year?
As she does every year, Kathleen Peddicord takes a look at the best places to buy international real estate in her annual article for Forbes. For 2022, her top six are in Latin America, from Brazil to Nicaragua.
She points out that “cheap isn’t necessarily best” when buying property abroad. However, she has cherrypicked six markets that offer attractive real estate at “bona fide bargain prices”. Specifically, she has chosen them for the opportunities to buy for less than US$100,000.
Why Fortaleza in Ceará?
One of the locations selected for its potential in 2022 is Fortaleza, the capital of Ceará in Northeast Brazil. Peddicord describes the city as “the gleaming centrepiece of Brazil’s northeast coast” with deep blue skies, fine sandy beaches and emerald waters.
She also highlights the year-round warm climate and the clean and well-maintained beaches. Both ensure a 12-month tourist season in a “cheerful and bustling” ambience.
Why is Fortaleza a top pick to buy property overseas in 2022?
As well as beautiful surroundings and a vibrant atmosphere, Fortaleza forms part of the top six places for international real estate because of the exchange rate. Peddicord emphasised this aspect of Brazilian property earlier this year when she said that 2021 was “the best time in our lifetimes to buy”.
2022 turns out to offer a similar opportunity. “The current exchange rate with the Brazilian real creates a huge advantage for both US and Canadian dollar-holders,” she says. By her calculations, dollar-buyers are looking at 7% extra purchasing power this year. And as a result, “even at the luxury end of this market, you can buy for less than US$100,000”.
Peddicord underlines the buy-to-let potential in Fortaleza where the Aldeota district has all the amenities a renter could want. An additional advantage is that the beach is a short distance away, making it “a top choice for a cash-flowing investment”.
Why does Fortaleza stand out for Latin American property investment?
Peddicord includes five other Latin American markets in her choice of the most affordable places to buy property overseas in 2022. However, the majority of these come with a caveat.
For example, she mentions Granada in Nicaragua, home to good-value properties, but warns that “Nicaragua is not for the faint of heart right now”.
Santa Marta in Colombia is another of her top picks. However, here too lies a major disadvantage for the overseas investor – the “climate is hot and humid all year round”.
Unlike the other Latin American locations, Fortaleza has not downsides for the overseas buyers and as a result, stands out among the six picks.
What to add to your overseas investment portfolio next year?
If you’d like to take advantage of the extra purchasing power available to foreign-currency buyers in Ceará in 2022, take a look at The Coral. Investment options start at US$88,000 for a loft apartment at the 5-star beachfront resort.
Foreigners have full purchasing rights in Brazil and at The Coral, you buy 100% freehold title of your investment. Furthermore, the purchase procedure is straightforward. Get in touch with our investment consultancy team now for a no-obligation chat.
(Source: Forbes)
