Laura Madden, Contributing Reporter RIO DE JANEIRO, BRAZIL – Often referred to as the “esquina do continente” (corner of the continent), Natal in Rio Grande do Norte State is perhaps best known for its vast sand dunes, a playground for tourists taking dune-buggy rides. The entire region however, which gets around 300 days of sun per year and has an average year-round temperature of 28 degrees Celsius, has a strong draw for those looking for the good life. Ponta Negra is one of the most sought-after areas in the city of Natal, photo by Laura Madden. In 1942, the city became a refueling air base for the allied forces during World War II’s Operation Torch. That base today is the city’s international airport, Augusto Severo, where approximately two million tourists pour in each year from all over Brazil and around the world. Natal is also home to the Centro de Lançamento da Barreira do Inferno, Latin America’s first rocket base. With nearly 800,000 inhabitants as of the 2010 census, Natal is Brazil’s fourteenth safest city, and the capital city with the least violent crime. Natalenses have been ranked the fourth-highest-paid among northeastern cities in terms of formal (contracted) work with the fifth-highest buying power in the country. A housing and construction boom began in the early 2000’s when the Euro was approximately 3.5 to one against the Real. Adriana Paschoalino, owner of P.C. Imóveis describes how the market exploded. “A foreigner would arrive, see a fisherman’s house and ask, ‘How much?’” she says. “The fisherman would tell the foreigner some absurd price, which cost next to nothing for the foreigner, and later a building would go up in its place.” “Another thing that helped business during that time was that charter flights were coming in every week from Europe,” says Ricardo Dantas, manager of commercial sales at Brasil Brokers, a national real estate chain and the largest in Rio Grande do Norte state. “Up until around 2005, the cost per square meter in the Natal area was around R$7,000,” Dantas recalls. Though Europeans were the basis of the housing and construction boom, it has continued despite the economic crisis in Europe. Now, he says it is mostly Brazilians buying. Ricardo Dantas visits the pool at Sports Park condominium, photo by Laura Madden. “We have people buying here from Brasília, where the price is around R$10,000 per square meter,” says Dantas. Today, Natal’s cost per square meter is around R$4,000. The most sought-after locations in the city are Areia Preta, where one square meter can set you back as much as R$7,000, and Ponta Negra. Along the northern coast, towns like Genipabú and Maracajaú are big hits. Still further north, in Jacumã, the area’s most expensive condominium costs R$3 million per house. Heading south, Cotovelo is home to the area’s first resort, In Mare Bali. Further along the coast, Pirangi and Pipa are very popular among foreigners as well as Brazilians. “We have Paulistas coming to escape the poor air quality and traffic problems,” says Dantas. “You can sell a place in São Paulo, and with the same money get an excellent place here in Natal, with a much better quality of life.” Those interested in renting can expect to pay around R$200/day for a cozy one-bedroom with air-conditioning during high season. Between Carnival and Christmas, that price is cut approximately in half and long term rates are available as well. “The time to buy is now. The [Brazilian] Real is very stable, and Natal still has a lot of growth potential past the World Cup,” notes Dantas. 8 Responses to "Natal Real Estate in Northeast Brazil" Pingback: Brazil Weekly’s Brazil Culture & Regional News « Brazil Weekly Ricardo January 20, 2012 at 9:30 AM What are the chances that Brazil is starting to have a real estate boom? And even more important, what are the chances of a real estate bust after the World Cup and the Olympics?? Prices to purchase or to rent in many Brazilian major cities are increasing, in some places by relatively high rates. Rio and Sao Paulo already are more expensive than many other world cities. Any new purchases should take a possible slowing or bust in real estate into consideration – seriously! Rob M. January 30, 2012 at 12:21 PM There’s definitely a real estate boom. It’s already happening. And there will undoubtedly be a big bust after the World Cup and Olympics. Lots of foreigners are buying now in Brazil, but that’s very likely to slow down significantly after the big events. Like the U.S., the boom is unevenly distributed. Rio and SP are experiencing big run-ups in prices, and some of the other cities that will host World Cup and Olympic events are also undoubtedly experiencing the same effect. Other cities will be less affected if they’re not going to be on the events circuit. Those hoping to buy a place in Brazil (or even renting) would do well to look at some of the smaller cities, especially in the Northeast or the interior. Many of them have all the amenities of urban living and high qualities of life (and less crime than the megalopolises): big shopping malls, good bookstores and cafés, good restaurants, scenic surroundings, decent cultural life, and an absence of gringos! They frequently have much lower costs of living than Rio or SP. Brazil is a huge country — there’s so much more than just Rio or SP to discover and enjoy! If you don’t have to live in Rio or SP for work, there are many great alternatives. Especially if you don’t care for the beach that much! Brad Haugen February 7, 2012 at 3:54 PM Natal is Brazil’s fourteenth safest city? Which is the safest city? Brad Haugen Gregory February 8, 2012 at 4:37 PM My friends watch out for bursting baloon. Lest look at an apartment price at lowest denominator given in above article $4000Real/m2. That means 1000ftsq 1bedroom apartment is $240,000US. Now it says there that the price is going at $7000R/m2 ? That means its’ almost $420,000US. How can anybody pay that kind money for small apartment like that in a city of 800,000 people with less than moderate demand ? $420,000US ? In Brasil where average middle class income is under, at best, $7-10,000 US ?????????? Pingback: Consumer Complaints Rise with Middle Class in Brazil | The Rio Times | Brazil News Pingback: Adventures on Natal’s Dunes and Reefs | The Rio Times | Brazil News Pingback: A Trip Northeast to João Pessoa in Paraíba State | The Rio Times | Brazil News Leave a Reply Cancel Reply Your email address will not be published.