With increasing economic stability and a broadening appeal for international tourists, Private Islands Inc. predicts heightened 2008 interest in Brazil’s private island real estate.
Toronto, Ontario, Monday January 21st, 2007- Substantial growth in the tourism sector and an improved economic forecast have made Brazilian private islands one of 2008’s hottest properties for Private Islands Inc., according to company CEO Chris Krolow. And with a wide number of new property listings in popular destinations such as Angra dos Reis, Salvador Bahia and Paraty, Brazil’s profile has never been higher in the international island market.
“In the past, Brazil has been largely overlooked by American investors”, says Krolow, “mainly due to a perception of remoteness and a lack of optimism in the country’s economic prospects.” However, after years of substantial, European-driven gains in property values for resort areas along the country’s coast, he says there now exists a precedent for stable growth that is leading many Americans to see the potential Brazil has to offer. “And with the increased tourism seen in coastal cities such as Buzios and Salvador since 2000, many airlines have increased direct flights to resort areas from major cities in the United States. Now that travelers can often reach their destinations without the hassle of navigating major airports like that of Rio de Janeiro, Brazil is more accessible then ever.”
In addition to the luxurious, fully-developed private islands found along the southern coast, possible resort developments have been a prominent interest among his clients, Krolow reports. “The favorable exchange rate of the Brazilian real to the US dollar, and the stability of freehold property ownership, mean that undertaking hotel or second-home developments in Brazil is now far more feasible than in many other areas of the world,” he says. “An excellent balance of traits, Brazil is accessible yet exotic, relatively cost-effective but luxurious, and has a stable base of European tourism and the yet-untapped potential of the US market. Without a doubt, Brazil is one of the top countries to watch in 2008. ”