What price represents current value per square meter of luxury in Natal?

  1. 2000USD

  2. 3000USD

  3. 4000USD

  4. Sky's the limit >4000

    0 vote(s)

Natal how much is Value and how much is Hype?

Discussion in 'Brazil Property' started by PropDoc, Jan 5, 2010.

  1. bizar

    bizar New Member

    it would be nice to have negative comments backed up by proof, not just talk, thx
  2. navaraS

    navaraS New Member

    I am in Natal, staying with wifes brother and looking for a place. I am doing some research...checked out almost every neighborhood in the city in the past two weeks. I can tell you almost every apartment building is more than half empty and they are still building more. There are some buildings that are half way done but not complete (they went bankcrupt). And they are still building more buildings....to fill all these buildings it will take more than 15 years or some crazy un expected population growth. I am guessing the builders are trying to take full advantage of the olympics and world cup.

    over 90% of the properties thatwere listed in the selling and renting section 6 months ago is still listed. i have proof of this because i have been looking actively since 6 months ago. I was told by some that some properties stays listed for years (don't have proof for this but it is believable considering large supply.
  3. You don't have to prove this.
    This is now a normal situation in Brazil today.
    People trying to sell their property for R$ "X", for 1 month, for 6 months, for 1 year, for 3 years.
    Not even a discount of 10-15-20% works out.
    They are not able to sell.

    What do you want more to prove there is a housing bubble ?

    I (my opinion) think the burst/fall in prices will be more in places like Natal.
    It's an insignificant place in Brazil.
    No industry, big projects etc.
    Just depending on tourism, thats declining dramatically.
    The Fortaleza area is in a little bit better situation, investments-industry (some)but also will not escape from a burst ( Whole Brazil).
    It's no joke 40-50 % in RE price drop in a short time.

    A few weeks ago I mentioned (and showed) a tipical case in Pipa.
    In 2007 they were selling apartments for R$ 180.000,00
    Very special, High-class, 1st class architect, the best place to invest ... bla.bla.bla...
    Now in 2013 he is still selling it (trying to) for the same R$ 180.000,00/apartment.

    In a "Booming" market a 2013 buyer would say to a 2007 buyer: "You were lucky".
    In a "Bursting-Bubble" market the 2013 guy will say to the 2007 buyer: "You were SCREWED"
  4. navaraS

    navaraS New Member

    Obviously i didn't check every apartment but the ones that i checked were half empty. In few buildings even the security guy admitted this because my wife asked about the people.

    I checked out every neighborhood south of the river, north of ponta negra and east of candeleria/neopolis/nova parnariam (inclusive). Obviously i didnt check every building but i checked out houses and apartments in those areas. new parnarium, lagoa nova and capio macim are where i spent more time because those are the areas that i am interested in...but today i am going to check out covelto outside ponta negra....heard some good things about it....
  5. Norbert

    Norbert Senior Member <br /><img src="http://img.propertyc

    FIFA World Cup and Olympics

    Far too much have the 2014 FIFA World cup and the 2016 Olympics been (ab)used to sell property. House prices are not likely going to appreciate long-term just because of these mega events. That is just wishful thinking, and a marketing tool.
    And when it is true that there is already a surplus in residential property in e.g. Natal, prices are only going to go down.

    FIFA demands special laws granting FIFA and sponsors tax benefits which is costing the hosting countries billions in lost revenues. These mega events had disastrous effects on the finances of cities such as e.g. Montreal, Moscow, Athens and Cape Town, costs which will have to be collected from the ordinary citizens again in the form of taxes. Montreal only paid off its debt in 2005/6, THIRTY YEARS after the event.
    Athens will probably never.

    Believe me, not being a HOST CITY can be a blessing!

    Last edited: Mar 2, 2013

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