Grab a Piece of Brazil Before the Real Estate Boom

Today's Financial News - Posted August 4, 2008

“Norwegians are the only foreigners buying around here right now, but once North Americans discover this town, I think it’s going to boom, big-time.” — Ronan McMahon

Blogger’s note: We all know the real estate market in the U.S. is dead, and it won’t be coming back to life anytime in the near future. So where do you put your money as a real estate investor? Ronan McMahon of International Living has a suggestion, and it could make you a nice, healthy return on your investment if you grab your chance soon.

by Ronan McMahon

Baltimore — (TFN): Cumbuco is my favorite little beach town along the northeast coast of Brazil. This was the place I came to relax and spend time on a free day during a recent 540-mile scouting mission. I have just returned from my second scouting trip to Cumbuco. On the face of it, not much has changed.

This is a little beach town 30 minutes west of Fortaleza. When I was there, it was 84 degrees Fahrenheit…with a cooling breeze coming in off the ocean. A very relaxed beach-town vibe here. Cumbuco has an Internet café, hotel, and several guest houses, but it’s still a local town, kids playing soccer…cobbled streets…

Although it’s a relaxed little beach town at the moment, it is so close to the city and has such great beaches that I think it won’t be long until the foreign market arrives. Norwegians are the only foreigners buying around here right now, but once North Americans discover this town, I think it’s going to boom, big-time.

Since January, I have been telling IL readers how major European developers and investors had been quietly snapping up pieces of land for major resort development on the stretch of coastline around Fortaleza. Read on to learn more.

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