banana residential club

Discussion in 'Brazil Property' started by ferriej, Jun 13, 2007.

  1. ferriej

    ferriej New Member

    Could i ask peoples views on Banana residential. i am really thinking of reserving but as a first time buyer it is pretty daunting prospect being so far away. for all you guys that have already reserved can i ask what you expect from rentals and growth value. also does the fact the development is 2km from the beach make it any less attractive. finally will it be as good a buy as Natal which is close to the new airport. wish i had a magic ball to see how this will develop but the area looks absolutely stunning and the price aint too bad either
    appreciate any thoughts
     
  2. wolfgang

    wolfgang New Member

    All depends upon..........

    Write down your 3 main reasons/objectives in order of priority for wanting to reserve along with which development in Natal you are referring to for comparison purposes and i will try and answer your questions in good faith.
     
  3. ferriej

    ferriej New Member

    Hi wolfgang, my main reasons for looking at banana are

    1. great price for size
    2. smaller development easier to sell in future if i wanted
    3. stunning location a couple of km from beach

    if i bought here i would be hoping for decent capital growth, some rental income and some use for holiday. who knows in future might end up spending more time there.

    the reason i mentioned natal was a lot of developments there seem to have more amenities, beachfront and close to the airport. would these have greater rental potential???
    the one that caught my eye was gran natal which has been well advertised, also natal ocean club although thats a little pricier.

    this buying abroad is new to me thats why i posted to find out more experienced investors views
     
  4. olicombet

    olicombet New Member

    banana

    hi there
    i have bought there in phase one last week and fly tomorrow i can tell you more in one week when i return i think banana is very good value for money and besides this there are villas only
    2 ks from the beach is great
    less noisy and windy
    a good friend of mine has bought the plot next door to mine
    i will also go for the pool but will do that at a later stage
    in natal biggest airport will bring mass tourism which aint that good!!!
    and your property in banana is definitely meant to see its value increase and also prices will increase 10% in 2 weeks time
    time to make up your mind!contact me if more details needed i am already quite far into the process
    olicombet@hotmail.com
    cheerio
     
  5. olicombet

    olicombet New Member

    actually 15% increase and not 10
     
  6. wolfgang

    wolfgang New Member

    Fortaleza,Natal.

    Ferriej,
    Some fast balls here ,though you do display a very sound insight into the main issues involved for a self confessed less experienced investor.
    Given your posting, and objectives ,hat in the ring ,i believe that Banana Residential in Fortaleza is the better option.
    Brazil is an embryonic market and as such, is primarily a capital appreciation play.Both should yield an excellent result in this regard ,so little to empirically differentiate.I am reassured you said "some" income because yields are likely to be sparse in the short term-probably even more so at Grand Natal due to length of build time.
    Banana should be up,running and fully operational well in advance of the facilities even being finished at the latter.Sure there will be more facilities in the long run ,though this project may just be a tad too ambitious given the number of beds available relative to required visitor numbers.You will be competing here not only with thousands of other properties but ALSO with numerous large on site hotels.Banana has a 100 max villas and a well connected property management company should achieve a good occupancy level given the small scale of this project.Relative to its size ,on site leisure facility provision is excellent.
    From a personal vacation usage perspective my inclination would be to say that again Fortaleza would probably be the better option.It is 4x the size of Natal,is more modern and quite simply there is more choice, a greater variety of activities and facilities, a better nightlife and an extended season.
    Do not place undue emphasis on the airport factor.Natal will be large but a little known fact is that much of the increased capacity is geared to commercial as opposed to passenger traffic.Also bear in mind that not all visitors will necessarily eminate from Europe.The North American market is both considerably larger and closer.There are no direct flights from the States to Natal -instead they run from Miami to ..yes..Forteleza.
    Incidentally, i am purchasing at both locations and in conclusion a lateral thought for your consideration-why not cover your bases by entering into a fractional ownership arrangement with like minded individuals,purchasing on a joint basis at both Banana and Gran Natal and selling the least favourite/less successful performer?This will also serve to spread your risk factor.
    Hope these comments are of some use and if you have any specific queries post again or pm me.:)
     
  7. marsdei

    marsdei New Member

    Excellent Post ...

    I too have bought on the Banana Residential, and feel like buying another after that Wolfgang! Excellent Post!
     
  8. MikeB

    MikeB New Member

    Hi everyone :)

    We are just about to put our holding deposit down on a villa on the banana club. We have to say that we are as nervous as hell about this - mainly down to the fact that it will take our life savings down to nothing!!
    So could anybody please, please reassure us that this is a good idea and any extra information about the resort and local area would be very much appreciated.
    We have holidayed a couple of times in Brasil (Salvador and Natal) and loved our time there. We are planning on going out to Cumbuco in mid August to have a good look round and will be happy to pass on info send phots of our time there. I also speak passable portuguese - as I worked in Lisbon for a couple of years a few years back. So when we visit I can get the views of locals and chat to builders etc.
    We are planning on having the property as an investment/holiday home and we havent ruled out the possibilty of re-locating there in 3 years or so.
    Look forward to hearing from any others interested or anyone already taken the plunge and invested.
    Many thanks
     
  9. Anthony

    Anthony New Member

    Hello Mike
    At Banana Club you are getting a lot of house for your money.

    It really depends on what is the prime driver for your purchase. Is it pure investment, or it is more for your own usage? If it is purely an investment purchase, I´d be pleased to give you an honest opinion of the market and the specific location and provide some comparisions. Just as an example, a 2 bed beach front apartment in Cumbuco will cost you areound the same. Ever think why this is? There is a reason for everything.

    If your it is really a holiday home and you want it to be a good investment, I suggest you go there first in August and make your decision then.If the property you were looking at is not available, well perhaps it was not meant to be. There is a lot going on down there and pleanty of choice. Let me know if you would like any assistance.

    Kind regards,

    Anthony Fernandes
    Director
    SPC Overseas Realty S.L.
    SPC Overseas Properties | Investing in Property | Brazil | Cape Verde | Hungary | Morocco | Portugal | Spain | Turkey
     
  10. LisaUK

    LisaUK New Member

    You are quite right in pointing out that Banana Club properties are cheaper because they will not be beach-front. They will be situated 3km from the beach on a lagoon. The main reason that I put down a reservation deposit on a Banana Club property was because I get a lot more bang for my buck. I also think that, while beach-front properties are highly desirable to some people, the beach is not everyone's cup of tea. Perhaps people with children would prefer the relative safety of a lagoon. Or maybe those sampling water sports for the first time would prefer a calm lagoon rather than the rough sea to practice in? When purchasing any property there is always a trade-off. Beach-front and get a one bed apartment for your £50k or lagoonside and get a three bed villa for your £50k? I've chosen the latter and am blogging about my buying experience under the name of brazilianrealestate at the blogspot website.
     
  11. MikeB

    MikeB New Member

    Many thanks for taking the time to reply/post. One other question, does anyone have the definite update regards the Vila Gale Golf course and development? as this would have a massive impact on the success of the investments in Banana residential club.
     
  12. LisaUK

    LisaUK New Member

    Hi Mike

    Glad to see I'm not the only one whiling away a wet Saturday afternoon in front of my screen! I haven't seen anything concrete about when (and if) work will start on Grupo Vila Gale's new golfing resort in Cumbuco, although I did pick this up from Ambitur, but I had to run it through a translator:

    An investment of 22 million euros is orçamentado for the new unit of the Group Village Galley, in the Ceará. This will go to be situated in a land acquired for the group, with 500 hectares, that in accordance with the Plan of Detail foresees more two resorts (that they could be divided, giving four), three beach club, some commercial areas, real estate, space for sport and leisure, college, golf (27 holes, driving creaks and hotel) and cultural center for leisure. The Village Cumbuco Galley for its turn will be front beach, the 35 quilómetros of the airport of Cortaleza, together to the river Cauípe. This will have 346 rooms, restaurants and bars, diverse easinesses as SPA, store, business to center, room of games, library, center of conventions, club of children, nautical center in sea and one hundred of sports and animation. The unit will go to initiate its construction already during the next weeks.

    *************************

    My understanding is that, if it gets built, the resort will have 350 apartments. They offer some sort of timeshare system in their current resorts but you can also book a room or an apartment, like a normal hotel.
     
  13. MikeB

    MikeB New Member

    Thanks Lisa

    Vanessa's at work and believe it or not - between sitting at my pc I'm making marangues with my 11 year old daughter (the weather is really bad!). Thanks for the really helpful info on the golf development and hopefully it will get built helping to make Cumbuco a potential attraction as a holiday destination for Europeans and Americans. Any other bits of info you may have would be very much appreciated.
     
  14. LisaUK

    LisaUK New Member

    I'm not sure about large numbers of Europeans or Yanks visiting Brazil in the near future. I am pinning my hopes on the fact that the improving economic climate in Brazil will improve the fortunes of the Brazilian people. Once Brazilians have their basic living needs met then they may begin to holiday in places like Cumbuco. If a new middle class emerges they may even begin to purchase holiday homes thus pushing up prices. Good luck with the merangues!
     
  15. olicombet

    olicombet New Member

    just back from cumbuco

    hi all
    i was there in order to have a site visit at cumbuco banana resort
    it looks ideally located 1/2 hour drive to fortaleza, 2 ks from lagoon and 4 ks from cumbuco beach
    i am about to confirm a plot that i booked in phase one
    more information? contact me!
     
  16. olicombet

    olicombet New Member

    hi all
    i was there in order to have a site visit at cumbuco banana resort
    it looks ideally located 1/2 hour drive to fortaleza, 2 ks from lagoon and 4 ks from cumbuco beach
    i am about to confirm a plot that i booked in phase one
    more information? contact me!
     
  17. robh

    robh Administrator Staff Member Premium Member

    Hi Lisa,

    Large numbers of Europeans have been going to Brazil for years, this is why a lot of the developers are Spanish, Norwegian or Swedish.

    Ask any Spaniard if they know Pipa or Natal and the majority will say yes.

    Loads of Brazilians also go holidaying around Natal, mainly the south in and around Pipa. Not sure about Recife, as I haven't been there yet, but I have met loads of Brazilians and Europeans travelling in and around Salvador de Bahia.

    If you are ever after properties in these places with rental income then look at our website Property in Brazil: uv10.

    Regards,
    Rob.
     
    Last edited: Jul 3, 2007
  18. Dick Dawson

    Dick Dawson New Member

    Hi Lisa

    Fortaleza is Brazil's big holiday city. Brazilieros from the major conurbations of Rio, Sao Paulo and Curitiba flock there for its great nightlife, relaxed lifestyle and perfect climate. In the same way, Cumbuco is one of the most popular areas for the inhabitants of Fortaleza to build their holiday homes. Just look at the quality of homes at the Lagoa Banana and in and around Cumbuco.

    Cumbuco is one of the best possible places to buy at the moment. It is quiet and peaceful, but Fortaleza is easy to get to for the high life and international airport. Development seems to me to be better regulated than than in and around Natal, with much more sympathy for the local environment and the area remains beautiful. Fortaleza is also a much more interesting city.

    As Rob said in his post, the area has been popular for some time with Scandinavians and continental Europeans, and is now seeing an influx of British visitors. Its popularity is increasing fast and the potential for good rental returns is increasing.

    The properties most in demand will be beachfront, although as you point out there is a premium to pay. They are not so easy to find now, but my company has some for sale off plan. Please contact me if you are interested.

    Kind regards, Dick
     
  19. deedee1

    deedee1 New Member

    :) Hi all,

    Brazils economy is taking off and will not slow down for many years to come!

    The government have pumped in millions into promoting brazil as a tourist and holiday destination along with increased and cheaper flights along with people from europe becoming more adventurous in their travels along with the latin attraction brazil is growing fast and furious!

    The new large scale airport being built in natal will have a HUGE impact on travel and tourism, tour operators in the UK are now going to brazil and more will follow give it another couple of years and you will be pleasantly surprised!!!

    See ya D :)
     
  20. LisaUK

    LisaUK New Member

    Hi All

    Maybe I just picked a quiet time to visit (6th April to 20th April) but most of the tourists that I bumped into were Brazilian as opposed to European or American. English speaking locals and ex-pats all seemed to be of the same opinion that holiday homes were lying empty outside of the 'high season'. In Maracajau (North of Natal) me and my partner seemed to be the only Europeans staying overnight in the resort.

    I'm afraid I'm a bit pessimistic by nature so I am not banking on any rental income. I am just hoping for capital appreciation. Maybe I will be pleasantly surprised though.
     
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