Hartlepool, United Kingdom (PressExposure) February 04, 2009 -- Overseas property portal Property Abroad has announced a new bargain development in Paraiba Brazil as a hot investment opportunity. Les Calvert, Property Abroad managing director said:
"Paraiba only appeared on investor's radar in mid-2008, as having low priced properties with masses of investment potential because of the beauty of the area, government investment and the rising tourism the combination of the two was and would bring in. Then the credit-crunch Tsunami swept the world, Brazil's infrastructure spending dropped and Paraiba's growth potential went unrealised. But investment in Paraiba is set to resume. The Brazilian state is currently waiting on the US Congress to approve a World Bank Loan to repair 1000km of highways in the region.
"This will undoubtedly help businesses in the area, especially those exporting to other parts of Brazil and globally by make routes to sea and airports faster and less arduous, thus also helping the tourism industry. Expanding businesses in Paraiba is good news for the property market; rising employment and wages means locals bolstering the resale market a few years down the line. As most property investors are doing so expecting to make gains only in the long-term, this makes Paraiba a destination well worth considering for a property investment."
The bargain property listed by Property Abroad is the Sossego Bay development, with 23 studio and 2 bedroom apartments in Paraiba and prices from just Â£19,950. Sossego Bay is just a short walk from the beach and has a communal swimming pool, bar with barbeque area, private parking and 24hour on-site security.
Rental yields on the development are expected to be in the region of 10%, with an expected capital growth of between 25 and 50% when the development is completed -- the growth could be more than 100% depending on the timing of recovery in Brazil's property market. What's more the likely strength of the resale market in years to come means investors can make a secure exit strategy.
Property Abroad have dozens of properties in Brazil, find out more by visiting the site.