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Anyone bought at banana residential

Discussion in 'Brazil Property' started by newkidontheblock, Nov 21, 2007.

  1. newkidontheblock

    newkidontheblock New Member

    Hi all, new to the forum and really looking for advice on buying in Brazil. i am a first time overseas buyer and was looking at banana residential. does anyone know anything about this development.

    i looked at it earlier but was too nervous to take the plunge. it has now jumped in price. still looks good value for your money.

    anyone else bought there. do you think it will be a good investment.

    think the fact that it is close to a big city like fortaleza will help with rentals
     
  2. deedee1

    deedee1 New Member

    :)Hi newkid,

    Welcome to the forum!!

    If you look in the brazil forum I think theres 1 or 2 threads on banana residential with lots of posts on them from other owners etc- There worth a good read!

    Take care-D :)
     
  3. glyn

    glyn New Member

    Any one know about mar de tabatinga , just bought avilla there just wondering is all the hype about natel true
    thanks Glyn
     
  4. JMBroad

    JMBroad New Member

    Depends which hype you were told ;)

    Different people on the forums have very different opinions. Some base them on a lot of research and some base them on gut feeling from having visited the area more than once.

    Tell us what "hype" you were told and I'm sure you'll get more than one opinion.
     
  5. glyn

    glyn New Member

    Just the usual , N. airport , going to be 5th largest economy etc etc just starting out which i supposes go's inline with all the bulding work and money being invested and having had alook online at different resources
     
  6. JMBroad

    JMBroad New Member

    Natal Airport:
    Opens in 2009 and will be one of the biggest airports in the world: Hype

    As to the truth, opinions are divided on the matter - read the thread "Brazil Flight Information" for everyone's opinion. Some people (GW is the main advocate I believe) say there is no need for a new airport therefore it will never happen, despite state officials constantly talking about it in the local newspapers.

    Here's my opinion:

    Government are stating that it will be one of the biggest cargo airports in the world, largest in South America. This makes sense as many flights pass straight over Natal en route to other destinations in Brazil. The BR101 is being worked on and improved to help move the cargo once it arrives as well as potential to transport by sea to and from Natal to other cities along the coast. Official statements say (and I agree) that passenger capacity will triple (from 1.3 mil to 5 mil) initially, with the possibility of future increase to 15 mil and (eventually far off in the future if expectations are met) up to 40 million. 40 million would be comparable to some of the largest airports in the world and whether it will happen or not is very dubious at this stage. Although the government say that they would like it to happen and there is enough land and possibilities for it to happen, it's far too early to tell. Having said that it is important that they are building the airport with the intention of expansion in the future rather than building one airport today and having to build another in 5 years time.

    Plans for the airport construction are to be layed out over the coming 12 months, with construction starting shortly thereafter. Completion date unknown although due to the Football World Cup in 2014 I would expect at least phase 1 (5 million passengers) to be complete before that to allow Natal to compete with other Brazilian cities for games.

    Economy:
    Think pretty much everyone agrees that it's likely to become one of the most powerful global economies within the next 25 years.

    Infrastructure:
    A lot of investment going on at the moment with regards to infrastructure all around the country, with the NE getting the largest slice of the cake (around 36% of capital invested is in the NE with the other three regions sharing the remaining 64%).

    Just starting out:
    Hmm there's one for debate. Depends who you are and what you are looking to buy. In some areas, land prices are doubling every 6 months because developers from all over the country and from Europe are buying up huge plots of land. So while it may be early days for the "Joe Bloggs" investor looking to buy a holiday home and make some money on it, it's really late days for developers looking to buy and develop land. Arguably therefore (with the most recent launch in Natal just last weekend in Jacuma) every day that passes is time wasted.

    My recent trip only confirmed to me that the market has fantastic potential. I will be investing in Brazil myself as soon as I find the right property for me, before prices rise too much. Due to personal taste I won't be buying in GNG (too large for me) and won't buy anywhere near Ponta Negra - if I want decadence I can find that in Europe - I choose Brazil for different reasons.
     
    Last edited: Nov 29, 2007
  7. robh

    robh Administrator Staff Member Premium Member

    I tried to convince a few buddies of mine to go in with me and buy a plot which included 6 kms!! of beachfront about 3 years ago for 1.2 mil USD.
    I was having dinner with a lawyer I know in Pipa 2 months ago when he told me that he was doing due diligence on the same plot. I nearly choked on my food when he told me the price it sold for recently. If only I had bought it :eek:

    Rob.
     
  8. the great bear

    the great bear New Member

    Banana or pariaso

    I looked into Banana, but was too late because of the price increase, However i found a beach side development called Paraiso beach, 109.€ with guaranteed rent, so bought there instead. Good luck


     
  9. JMBroad

    JMBroad New Member

    If that is the Paraiso Beach in Ceara, make sure you check the information you are given as there is a development with the same name which is a prime example of "hype".
     
  10. the great bear

    the great bear New Member

    Please tell me what you mean???
     
  11. ferriej

    ferriej New Member

    Great bear,

    can i ask why you have quoted on one thread that you have bought at banana residential, yet on another thread you said you were too late and bought elsewhere

    confused!!!!
     
  12. JMBroad

    JMBroad New Member

    You tell me what you were told about the development and I'll tell you if you were told "hype" or the truth. I've had three different agents offer me a development of the same name and each one told me 4 fundamental pieces of information which upon research proved to be wrong. The thing is the whole concept of investing in that development hinges on those 4 fundamental issues.

    So if it is the same development in Ceara, on Canoa Quebrada beach, post the info you were told and I'll tell you what I found out about the development with some research.
     
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