Quote:
Originally Posted by Golfingworld
Hello Paul, yes I have many thoughts and I agree entirely with you. Everyone will do what they want and some don't want the hassle of resales. But, you have done what I have seen in natal and that is a very good resale market at cheaper prices, especially in the Ponta Negra area. To my mindeverything I see in Ponta Negra is what you saw in Miami Beach 30/40 years ago. Scruffy, run down, great beach, some bars and discos etc etc. South Beach and surrounding areas had a crime problem and then along came "Miami Vice" and everything changed. People bought those art deco buildings, smartened them up and bingo...prices went through the roof and it became the trnedy place to go. Anyone who knows about construction could make a killing in this area too as there are many houses around £40/50k which might one day be worth £200k. Oddly, I think all these "off plan" developments will pull people int NE Brazil it will have to as people won't spend their money andjust do nothing and not visit. But, the entertainment area will remain in Ponta Negra and in reality the decent shops are near there too, certainly not 50km north anyway. The Italians are big into Ponta Negra for various reasons, but if some smart money comes in it could become the new Miami Beach. Odd things happen in life, something may trigger it just like people thinking that off plan is an easy route to a fast buck. I don't, but that is the issue, but either way it is my view that Ponta Negra is the place with the long term potential as a resort, then all those beaten up houses (or ones with private escritura) start to become worth something. I am sure that many like you will go to Natal and do the same (or other areas) and it is not such a wild concept as I have been firmly told by some who prefer to sell off plan.
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G,
Of course you can buy those houses with the old style titles for dirt cheap for a very good reason: There are most likely debts attached to the house, the cost of changing the title is also very expensive and may not even succeed, or you might find that there is some claim for the place 2 years later after you have refurbed it and end up losing it.
Only buy places that have non-revocable public title, which means paying more I am afraid....