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Property Market Underpinned by Domestic Demand

he property market in Bahia is under-pinned by strong demand from within the state, notably from Salvador, however there are 3 different sets of investors – people from Bahia, people from the rest of Brazil and foreign buyers.

With local buyers remaining the dominant force in the market - yet having a diverse set of investors - demand for property in Bahia is underpinned by solid fundamentals.  With investment in real estate set to continue, the property market is expected to grow and develop in line with the wider Brazilian economy.

Property Market Underpinned by Domestic Demand Continued...

The local buyers from Salvador focus their property investments within Salvador as well as the areas to the north, mainly Lauro de Freitas and the Litoral Norte.  As Salvador becomes more prosperous itself, many city dwellers increasingly have the means to buy places on the coast, either as a weekend retreat, or increasingly as a base from which to commute to the city to get away from urban lifestyle.

The principal areas of investment for Brazilian people from outside of Bahia include the Litoral Norte (due to the short journey time from Salvador International Airport), and areas like Trancoso, Arraial d’Ajuda and Porto Seguro, easily reachable from affluent states like Esprito Santos and land locked Minas Gerais.  Trancoso is the No1 weekend choice for the Sao Paulo jet set and Praia do Forte draws buyers from all over Brazil.

In the far Northeast of Brazil, areas such as Recife, Forteleza and Natal have longer journey times from the south of the country, ensuring Bahia remains the tropical destination of choice for holidays and second homes for Brazilians from the South.   

A survey released in December by London-based property consultancy Knight Frank pointed out that Brazil currently has the most effervescent property market in the world.  According to the Global House Price Index, produced by the company, prices in the country rose 15.2% in the 12 months until the third quarter of 2012, the largest increase globally.
Source: The Brazilian Post
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