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Buy a residence in Natal

Discussion in 'Brazil Property' started by Rimini, Feb 25, 2008.

  1. Rimini

    Rimini New Member

    Hello all!

    I was lurking the board from about an year, this is my first post.

    I'm going to buy a small residence in Natal, 10 apartments, studios and 1 room apartments, with comunal pool and bar.

    The price is good and the location is fine, i'm going to go there for an inspection soon.

    I'm quite confident that i'll be able to rent the apartments at least to cover annual expenses.

    Do you think this kind of properties will have a capital grow and most of all that it will be marketable when i'll decide to sell it?

    Thanks a lot :)
     
  2. JMBroad

    JMBroad New Member

    Depends on so many factors, but with a couple more people may be able to give you a better reply:

    Which area of Natal is it located in, what size are the apts, how much are you paying per m2, what is their direct competition, how long are you planning on holding them and who are you planning to sell to when you do decide to sell.
     
  3. Rimini

    Rimini New Member

    Thank a lot for your response JMBroad!

    The residence is located about 150mt from Ponta Negra, there are 5 20mq studios and 5 30mq apartments, 500mq of land plot and a pool.

    The building seems to be nice and well mantained, 10years old, the request is about 200.000€

    I have no idea about competitors since i've never been in my life in Natal.

    It would be a long time investment, 10 years could be fine, i have no idea to who i'll sell the property for that time.
     
  4. Rimini

    Rimini New Member

    Another question :)

    My agent proposed me a similar investment but in Porto Seguro instead of Natal, a very nice residence near to the beach, less expensive than the first.

    In your opinion is it better Natal or Porto Seguro?

    Thanks again
     
  5. Golfingworld

    Golfingworld New Member

    Hello Rimini, your on the ground man for this is michealbush he can help you and give local advice as he is a real gringo there and in the market. I own a due to be completed apartment in Ponta Negra and if i read your posts correctly the price seems awfully cheap for one block. All depends where exactly it is, it might be in "The Villa" which is not rentable to gringos...but talk to m bush and he will steer you in the right direction.
     
  6. michaelbush

    michaelbush New Member

    Guess that puts me on the spot!! If you can PM me with more info, I will check out the location and advise you if it is a worthwhile investment. At that price there may be lots of problems. Anyway I can research it for you.
     
  7. Rimini

    Rimini New Member

    Thanks a lot,

    The property is gone, i'll have to start searcing angain :eek:
     
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