If the test of economic resilience was the recent slowdown, the entire Northeast region of Brazil, especially Bahia, has reasserted its strength. Prices of properties in fast growing economies like Brazil with a strong local demand for housing usually go up in the long run. This is very different from the situation in more developed countries where speculation plays a larger role in the market and makes prices of real estate unpredictable.
Conditions for
real estate investment in Bahia were always good, but with more people seeing the benefits of investing in the region, the demand is going up.
What Makes Bahia An Attractive Real Estate Investment Destination?
Bahia has everything that makes it a great place to settle down and has plenty of natural and historical attractions to bring in the tourists. It is also one of the largest states in the country and makes a significant contribution to the GDP.
With its long coastline (about 1200 km) dotted with beaches and covered with tropical vegetation and its comfortable temperatures, which average close to 27degrees, Bahia is the right destination for both domestic and international tourists as far as natural beauty and climate are concerned. Add to that the rich and diverse culture, historical attractions and good infrastructure and you have all the ingredients for a booming tourism industry.
Salvador, the capital of the state, is well connected by air with major hubs in Europe and America. Air travel is possible even to remote places thanks to a number of domestic airports within Bahia. These airports give the required connectivity to other major cities of Brazil. The airports at Rio and Sao Paulo in the south are also popular transit points for international tourists visiting the region.
Cities and towns of Bahia, especially Salvador,
Porto Seguro and nearby areas, figure prominently on the tourist map for both domestic as well as international tourists. In fact, the state attracts more tourists than other neighboring states combined. Although climate and tourism are Bahia's strong points, there are other factors, which are also driving the demand for real estate.
Learn more about why you should buy
real estate in Bahia here.
Real Estate Demand Driven By Strong Fundamentals
Demand for real estate in Bahia comes from the local people, buyers from other parts of the country and foreigners. This ensures equal and strong growth in all segments of the real estate market. This demand is maintained thanks to the strong economic growth of the region and the country as a whole. With Salvador playing host to two major world sporting events, the Football World Cup and the 2016 Olympics, investment and infrastructure development has got a further boost.
The major tourist areas of Salvador,
Praia do Forte, Porto Seguro, Arraial d'Ajuda and
Trancoso are ideal places for investors who want to capitalize on the tourism potential. They have the option of either buying residential or
commercial real estate and offering it for rent or buying a commercial space and starting their own business.
In addition to demand for residential and commercial property, there are investors who are looking for
land, which they can develop and resell. Most villages and towns of Bahia offer an attractive array of real estate options, thus giving a wide choice to all types of investors.
Some Of The Real Estate Hot Spots of Bahia
The capital city of Salvador and its metropolitan area are centers of tourism as well as economic activity. Salvador being a UNESCO world heritage site and with its large number of historical attractions is a draw for all types of tourists. Salvador offers a wide choice of real estate options which include
apartments,
houses, land and commercial properties.
Praia do Forte in the north and Trancoso in the south attract the bulk of up-market real estate investors. Praia do Forte offers apartments and houses, many of which are part of luxury condos. You can also find commercial real estate here.
Large houses and
farms form the bulk of the real estate on offer in Trancoso. Nearby Arraial d' Ajuda offers traditional houses, plots of land and commercial properties. Porto Seguro is the place to look for more urban style real estate in the south. You will get apartments, houses and commercial properties here.
Other notable places, which enjoy high real estate demand, are
Morro de Sao Paulo, Itacare and
Ilheus. Among the inland areas, Chapada Diamantina is one of the most famous areas in Bahia. What it lacks due to the absence of beaches, it makes up by its great natural beauty.
Five Ways You Can Capitalize On The Real Estate Boom In Bahia
1: Buy a home for your own use at a lovely location.
2: Buy a home in a tourist intensive area and rent it out, while benefiting from capital appreciation as well.
3: Buy a plot of land, improve it or construct a home and sell it for a profit.
4: Run a real estate business by identifying properties with good potential, but available at a bargain price for resale.
5: Professional real estate companies can buy huge tracts of land, get the necessary approvals and develop it into a commercial or residential condo for resale.
Bahia offers some attractive real estate options for all types of investors. As long as you have a very good knowledge of the real estate market or you take the help of a good real estate agent who has a large database of properties and the professionals with experience to guide you, you will not go wrong.
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