Hot Property: Port of the Sun Shows Investors Life is a Beach in Brazil
With holiday homes in Ceara Equator - ‘land of the endless summer’
October 24, 2005, Press Dispensary. In their search for an overseas holiday home, property investors have largely ignored Brazil’s northeast: a beautiful location with a hot and sunny climate and some of the world’s lowest property prices. Now, Brazilian property specialist, Port of the Sun (http://www.portofthesun.com), is offering holiday homes for sale at favourable prices in Fortaleza, the thriving capital of Brazil’s northeastern ‘gold coast’ state of Ceara Equator.
Port of the Sun is a portal to Brazil’s northeast. A development company with partnership ties to the local Brazilian professional community, Port of the Sun puts potential investors in the picture and guides them, every step of the way, to find a dream home or holiday villa of their choice. Port of the Sun books the investors’ travel and accommodation, collects them at the airport, and arranges the inspection of properties that might be suitable for their needs – whether this is new build property for an individual, or ready-to-build project for a developer.
Using its expert knowledge and with help from its real estate partners, Port of the Sun can source – or build - just about any property. It helps investors negotiate and close deals, provides rental assistance and ensures clients have a rewarding experience. Port of the Sun personnel will even help investors plan their leisure time in Fortaleza and can arrange extra services, such as the whitening of teeth carried out by dentists in the area!
Port of the Sun is offering investors the chance to enjoy a break in the sun and view its selection of properties at the same time. For 699 GBP, investors can enjoy a return trip from London plus hotel in Fortaleza and transfers. All investors receive a buyers’ property service pack and can view properties ranging in price from approximately 10,000 GBP for a three bedroom apartment close to the beach to around 200-250K GBP for a mansion. If an investor buys one of Port of the Sun’s properties, the company will cover the cost of their trip.
Port of the Sun provides investors with all the information they need to make an informed decision. Steven Glazer of Source Capital LLC, the company behind Port of the Sun, comments: ‘Buying property is straightforward for non-Brazilians and freehold ownership is uncomplicated. There are many tax benefits associated with buying property in Brazil: for example, expats who sell their homes in the UK to fund a purchase in Ceara Equator are exempt from capital gains tax on the sale. And annual taxes for most Brazilian properties are in the range of a few hundred pounds per year.’
He adds: ‘We predict that property in Brazil can yield returns far superior to those found in alternative destinations. In the last year alone, combined currency and property appreciation topped 50% and should do so again for the foreseeable future. We like to say this is a real estate based investment that delivers venture capital returns. The statistics are convincing for investors and expats who could, for example, buy a mansion on the beach in Brazil rather than a two bedroom flat in Balham!’
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Notes for editors
About Port of the Sun
Port of the Sun is a venture run by Source Capital LLC, principals of Source Capital LLC and the Port of Sun Limited Partnership. The key purpose of the partnership is to develop a major destination resort anchored by a marina accommodating mega yachts, as designed by Donald Starkey, a partner in the venture. The development project generates opportunities for other investors, which are presented by the partnership. Port of the Sun is based in Fortaleza, Florida and London. It employs American and British property experts who have extensive experience of Brazil.
About Ceara Equator and Fortaleza
Billed as the ‘land of the endless summer’, and situated less than four degrees south of the Equator, Ceara Equator has an almost constant climate, giving more than 335 days a year of sunshine, with air temperature remaining at 88 degrees and humidity seldom reaching more than 60%. Ocean surface temperatures generally stay at 82F all year round.
Fortaleza, a thriving city with culture and entertainment, is the capital of Ceara Equator and has 2.4m inhabitants. Ceara is growing faster than the rest of Brazil, and – in property terms - Brazil is growing faster than the rest of the world. Property prices continue to increase as the region develops and the value of Brazilian currency (the Real) gains strength. In 2004, property in Ceara was sold at prices 23.5% above 2003 rates.
For further information please contact:
Steve Glazer, Port of the Sun
Tel: +44 (0) 20 8432 6131 / +1 201 779 8987