Yet again, the capital of Ceará ranks as one of the top five places to buy affordable property abroad. Forbes places Fortaleza in second place in the world in terms of value for dollar buyers. The US broadsheet recommends the city for some of the “best beachfront real estate opportunities” today.
Value for dollar buyers
The 5 Cheapest Places to Buy Property Abroad in 2024 by Kathleen Peddicord starts with the premise that “prospective homebuyers in the US face a near-impossible situation”. She cites rising house prices, lack of supply and expensive mortgage rates as the three main problems challenging would-be buyers.
Peddicord therefore recommends dollar buyers should look outside the US, “where the best deals are found”. She recommends five dynamic markets, all of which offer “incredible value at affordable prices”. One of the top five is Fortaleza.
38% savings compared to the US
Taking the average listing price per square foot in the US (US$221), Peddicord searches the world for the best places to buy affordable property abroad. Brazil ticks the criteria, specifically Fortaleza in Ceará, where the square foot comes in at US$138.
As a result, investing in real estate in Fortaleza saves dollar buyers 38%. Of the other listings quoted in the article, only Northern Cyprus offers higher savings (47%). Brazil’s nearest rival, Colombia, would save dollar buyers 34%.
Reasons to buy in Brazil
Peddicord lists several reasons to buy property in Brazil.
Global powerhouse
These reasons include its economy – she calls Brazil “a global powerhouse with one of the strongest, most diversified economies in the world”. Perhaps more importantly, she explains that the Brazilian economy is largely self-sufficient. As a result, she states it is “well-insulated from global crises” as a result.
Massive country
She also believes the size of Brazil is an advantage to buying affordable property abroad. She says it has over 4,500 miles of coastline and plenty of UNESCO World Heritage Sites.
Best for beach property
When it comes to the investment itself, Peddicord says that “Brazil should be on your radar” if you want to buy beach property abroad. She says Brazil has “some of the best beachfront real estate opportunities anywhere in the world today”.
Reasons to buy in Fortaleza
In such a vast country, Peddicord suggests investors avoid busy metropoli such as Rio de Janeiro and Sao Paulo. Instead, she recommends copying what Brazilians do and selecting a popular holiday destination such as Fortaleza and surrounding areas.
Affordable property in Fortaleza
According to Peddicord, a property by the beach in Fortaleza and nearby resorts costs from US$70,000 to US$140,000. She works out that the average square foot costs US$138, meaning a 1,000 square foot apartment will be around US$138,000, that “incredible value at affordable prices”.
(Source: Forbes)
