Brazil's 'sultry north-east' has been emphasized as a lucrative destination for property investors, in a British National newspaper.
According to 'The Times' the attractions in the area are obvious, with long, sandy white beaches, high temperatures during January, and the prices of properties being atleast one-third cheaper than its counter-parts in Southern Spain.
The President of Association for Tourism Development and Real Estate in Brazil, Felipe Cavalcante de Melo Lima, has described the property prices in the region as 'stratospheric growth', during the recent past.
Speaking to the media, he said "A few locations have witnessed capital appreciation by more than 1000 percent during the past five years. Lima has also predicted a modest growth of 12 percent this year."
The newspaper focused on the old town of Bahia, located in north-east of Brazil, and it was pointed out as a profitable area, worth investing. The report says that just a couple of years ago, the investors could purchase a run-down property for less than £50,000, but now, even dilapidated town houses are sold at a price of more than £5,00,000.
During early part of this month, 'NuWireInvestor', an independent property website, quoted Brazil, as a top investment destination, with the Latin American county given a second place in its list of 'Top five Latin American real estate markets' released last November.
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