The latest figures for the Fortaleza property market point to a busy first two months of the year. Transactions reached a value of R$773 million, the highest for the last four years. As a result, analysts believe that 2023 will be one of the best years on record for property sales in the city.
Best result for last four years
The latest Flash Imobiliario for January and February this year reveals that Fortaleza real estate has a flying start to the year. In the first two months, 1,448 units changed hands in the city, with a total value of R$773 million. The figures are the highest for the last four years.
In addition, they represent two significant upticks in comparison with figures for 2022. For example, sales volumes saw a 23% increase and sales value skyrocketed by 133%.
“The results have exceeded our highest expectations,” said Ricardo Bezerra, whose company, Lopes Immobilis, publishes the monthly Fortaleza property market report. “2023 has been the best start to the year since 2010 or 2011.”
Optimism for 2023 as a whole
The figures for the first two months of this year lead analysts to believe that 2023 will be one of the best on record. “We expect to finish the year with almost R$5 billion in sales,” said Bezerra. “This figure will be the highest ever in Fortaleza.”
High demand for second homes
In 2022, the Fortaleza property market saw a marked increase in demand for luxury properties and second homes. This trend shows no signs of going away in 2023; on the contrary, analysts believe demand will continue to grow as Fortaleza and Ceará gain appeal among second-home buyers and holidaymakers.
In January and February, 173 high-end properties changed hands, with a total value of R$192 million. The recent surge in tourism in Ceará will boost demand yet further, particularly in quieter locations outside the capital such as Flecheiras.
(Source: Flash Imobiliario)
