Once again, the capital of Ceará ranks as one of the best places to invest overseas. A Forbes article has just named Fortaleza one of the top five spots to buy affordable property abroad based on its value-for-money property. Forbes finds that Fortaleza offers 38% more for your money than comparable homes in the US.
Incredible value at affordable prices
Kathleen Peddicord, the article’s author, makes a compelling case for her top five picks to invest overseas. She has chosen the five destinations based on the “incredible value of property at affordable prices”.
All five locations contrast starkly with the US market. Here, homebuyers have the triple challenge of ever-rising house prices, high mortgage interest rates and lack of inventory. Peddicord calls this a “near-impossible situation”.
To overcome this challenge, she suggests looking beyond the US to five destinations with the best deals. To assess the best value for money, she compares the cost of a 1,000-square-foot property in each country with the equivalent in the US.
Brazil second best to invest overseas
Peddicord’s second-best pick after Northern Cyprus is Brazil. Using the comparison above, she calculates that investors can benefit from a 38% saving on Brazilian property. For example, a 1,000-square-foot apartment in Fortaleza costs around US$138,000. In the US, on the other hand, it costs an average of US$221,000.
Economic powerhouse
But Brazil doesn’t just offer financial advantages; Peddicord reports it’s “a global powerhouse with one of the strongest, most diversified economies in the world”. She also points out that this diversification means it’s almost self-sufficient.
As a result, Brazil is “well-insulated from global crises”. It also makes a natural choice for “savvy investors” who “seek it out as a safe place to store their money”.
Size, culture and nature
Peddicord also highlights the fact that Brazil is the world’s fifth-largest country. It has over 4,500 miles of coastline and unique natural surroundings. In addition, Brazil is home to UNESCO Heritage Sites.
Best beachfront real estate opportunities
Property presents another reason for choosing Brazil to invest overseas. The Forbes article puts the emphasis on beach homes and recommends that Brazil be on your radar. Peddicord says it “offers some of the best beachfront real estate opportunities to be found anywhere in the world today”.
She also championed beachfront property in Brazil in late 2022 when she described overseas investment as the “cornerstone of any diversification strategy”. In addition, buyers in Brazil could benefit from the “extraordinary opportunities”, a situation that repeats this year.
Why buy in Fortaleza?
Within Brazil, the article highlights Fortaleza, the capital of Ceará in Northeast Brazil. It suggests avoiding crowded cities like Sao Paulo and Rio de Janeiro and opting for smaller alternatives.
Fortaleza and surrounding areas are one such option. Peddicord highlights this part of Brazil as a “domestic vacation destination” and states you can buy a home by the beach for US$70,000 to US$140,000.
Fortaleza is no stranger to high-level rankings. Earlier this year, Bloom Consulting rated the city as the fourth-best place to invest in Brazil and InsiderMonkey recently ranked Fortaleza as the best place to retire in Brazil. On this occasion, the city was chosen for its “classy beachfront lifestyle, rich culture and high quality of life”.
(Source: Forbes)
