With an increase of over 32% so far this year, mortgage loans in Ceará are at their highest since 2015. They reflect a very busy market, currently experiencing its best moment for years. Analysts believe that this trend will continue well into 2021 as buyers take advantage of record low interest rates.
Pent-up demand and rock-bottom mortgage interest rates push sales of new properties in Brazil to record levels. Figures for new-build sales in September went up by 23.7% in the year while mortgage lending soared by 44% in the first nine months of the year. Analysts predict a busy end to the year for property in Brazil with excellent prospects for 2021.
Recent FDI and a surge in IPOs have brought the economy in Ceará to the forefront in Northeast Brazil. The number of foreign investors has more than doubled since 2010 and Ceará companies account for more than half those from Northeast Brazil on the stock exchange.
Mortgage loans in Ceará surged in September, beating the record in August and registering an increase of 156% in the year. Analysts believe that 2020 will set a record for mortgages in Ceará generally as buyers flood the market.
Tourism in Ceará registered the highest monthly increase in Brazil in August, over four times than the national average. The rise in Ceará was 85.4%, almost double the increase registered by its nearest competitor. The figure shows that the tourism sector is back on track in Ceará.
Ceará recently received the WTTC Safe Travels seal, awarded to destinations that comply with World Health Organization health and hygiene protocols for covid-19. The seal means that Ceará offers a safe destination as Brazilians travellers return en masse to one of their favourite holiday spots.
A shift in lifestyle preferences makes vacation rental accommodation more attractive than ever in Brazil and demand for Ceará holiday lets have pushed prices up to 20% higher. Holidaymakers are also turning their attention to new coastal destinations in the state including Flecheiras, opening up the horizons for buy-to-let investment.
The Ceará property market registered high increases for sales and sales value in August for all types of new builds. The rises in sales of new second homes and villas were particularly high in year-on-year terms and reached triple figures in both cases.
Yet to fully emerge from lockdown, industrial production in Ceará is showing an impressive recovery. The increase in July was the highest in the country and almost twice the average for the Northeast region. State authorities believe the figures augur well for the rest of the year as the Ceará economy gets back on track.
Resistent to economic ups and downs, the market for luxury property in Brazil is booming this year. Reasons behind the surge in purchases of homes with multi-million-reais price tags include record low interest rates, travel restrictions and the need for a home office.
The first holiday weekend after lockdown in Ceará saw 100% occupancy at hotels in some parts of Ceará including Flecheiras. The September weekend was busy at most beach resorts in the state with many accommodation establishments at full capacity, auguring well for the forthcoming summer season.
Although Ceará tourism officially resumed activity at the beginning of July, many sectors have waited until the autumn to return to business. Discover the full calendar for the complete reopening of hotels, rescheduling of events and return of international flights to Fortaleza.
Sales of property in Ceará went up by 78% in the year to July, indicating strong demand within the market. Mid to high-end properties were the most sought-after. The state also registered its third consecutive month of increases in mortgage loans auguring well for the market in the autumn and 2021.
The pandemic has brought shifts in homeowner preferences for property in Fortaleza and as a result, there's strong pent-up demand, particularly at the high end of the market. This combined with the lowest interest rates on record augurs well for the rest of 2020.
As Brazil shifts out of lockdown mode, people are starting to think about holidays again. And with the tourism sector opening up, certain areas within the country offer the best Brazilian staycation. This is the case with Ceará whose climate, tourism infrastructure and prices make it a top choice for Brazilians this year.
Ceará investment looks forward to a strong second half of the year on the back of large-scale state and private investment. Sectors set to benefit include property, agribusiness, renewable energy and tourism.