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Need to sell - Verano, Ponta Negra

Discussion in 'Brazil Property' started by jamphi24, Mar 12, 2009.

  1. jamphi24

    jamphi24 New Member

    Hi Guys,
    I purchased two 2 bed apartments next to each other in Verano, Ponta Negra, Natal by Capuche.
    They are completing in June. However thanks to the joy of the crappy UK economy I have lost a truck load of money and need to sell one of them (or both for the right offer ;)) as can't afford the payments for both apartments to Capuche.

    Firstly I need to know roughly how much are they worth at the moment?
    Secondly is anyone here interested in buying?
    Thirdly can anyone recommend any good agents or good locations to advertise/help sell it?

    If anyone is interested there are several options
    1.My contract with Capuche is to pay it off over 12yrs or so this can be taken over by anyone and put in there name for a small fee.
    2.Capuche are now doing plans of 280 months which this can be placed onto.
    3.Pay for it outright.

    All of the above would just involve paying me some and the rest to Capuche direct (of course payments via appropriate channels).

    Feel free to fire away with any questions or contact me for more details.
    Thanks in advance to any answers to above questions
  2. JMBroad

    JMBroad New Member

    First off - Ponta Negra... I'm sure you already know a lot of this but to refresh:

    What happened in Ponta Negra is that building sprung up from nowhere at an alarming rate and the area while still not too thick with buildings, is very very different from only 6 years ago when it was a neighbourhood of low rise houses.

    While Ponta Negra is the tourist centre of Natal, Petropolis and Tirol are the domestic centres of Natal. The areas of Natal considered to be the best residential areas for locals are Petropolis, Tirol, Bairro Vermelho and Capim Macio (which funnily enough borders with Ponta Negra).

    So, the market was building a lot of high rise in Ponta Negra - which is where foreigners want to have their holiday homes. These were being offered to foreigners and because of the large demand the prices kept shooting up - a lot of people made good money. But with the economic turmoil overseas, that demand has decreased significantly - as with your own personal situation.

    Now, while interest from foreigners has declined for Ponta Negra I've heard of more and more local families considering it and visiting apartments for sale in the area. Mostly apartments which are close to the "border" - the main street: "Rota do Sol" is kind of a natural barrier between the acceptable residential area and the part which is still considered "too touristy". But despite interest from Brazilians or perhaps the cause of the interest of Brazilians - prices have, for now, stopped rising in the area.

    As for selling it... how is your Portuguese - or Spanish? I can get a couple of good agents to send you an email if you can communicate in either - most Brazilians can understand Spanish pretty well, especially written ... send me a pm with your email and I'll pass it on to the ones I know and trust.
  3. JMBroad

    JMBroad New Member

    Are you sure this isn't only for Brazilians? 23 year finance plan seems extensive, even if the interest rate is 24% per annum or something.
  4. jamphi24

    jamphi24 New Member

    Hi JM
    Thanks for reply. I am aware it is not a good time to be selling. I purchased them more as long term investments and holiday homes I wasn't expecting to have to sell them now. To be honest I am happy if I get what I put in. If I can get more I am very happy.
    My Portuguese is reasonable. But my Step Mum & Girlfriend are Brazilian (like father like son haha) and can translate for me. If you could put me in touch with some agents that would be most useful, I have pm'd my email. Thank you.
  5. jamphi24

    jamphi24 New Member

    Well my current contract is over 12 yrs or so and they offered to be able to do it over 280 months (23yrs) yesturday when we spoke with them. So I am sure its for everyone. The int is high but not anywhere near what you quoted ;) I am awaiting actual figures from Capuche with regards to the 280 month payment plan.
  6. JMBroad

    JMBroad New Member

    I have to go back to the real estate fair this afternoon so I'll pass your email on to some good brokers - hopefully they will be in touch soon however if not let me know and I'll follow up - things are quite hectic at the fair atm.

    Let me know when you get the final figures what it works out at. It's not always 24% but it can be as high as that although it's presented quite differently.
  7. JMBroad

    JMBroad New Member

    Phew got it cleaned up finally - all posts relating to the "nightlife" situation of Ponta Negra are now in another thread called "Brazilian Lifestyle" - debate away!
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