Thanks Lee. I'll bear those things in mind. Yes, mine is just a one-bedroom flat. Think I'm going to try and talk to Manzanares today.

If you find a way to swop e-mail addresses, that would be good. This is the first forum I've participated in, so don't know how they work.

After reading the replies on this thread I am very interested in this project.

Can anybosy tell me who they dealt with when it came to visiting the site and dealing with the purchase of the property?

Any help much appreciated.

Hi all!
Haven't vanished off the face of the earth - just patiently waiting for the revised version of my contract to appear so not that much to say!! (Beginning to think it will never happen). Meantime I'm very keen to find out:
a) Whether the new airport will indeed be mainly passenger (as we were told) and not cargo. Would also be keen to know whether it will effectively replace the existing airport.
b) If the political will exists to finally finish the bridge AND complete the access roads (not much point in one without the other) If not it's a very long haul from Maracajau to Natal if you're looking for a night out...
c) What's happening to the land in front of PDC. We were initially told this would be a 'beach club' but the land seems to be being offered in parcels for private sale.
Also anybody know why there seems to be a slight name change (Brazil Homes to Brazilian Homes)?. Seems a slightly odd thing to do at this stage. Also on the new website the section on site progress appears to have vanished.
So great to see so many people joining in and sharing info. Makes the whole thing seem a bit less scary.
June

Hey all,

I have just received the contract (2 bed condo) so thank you for the tips. I feel that Manzanares is very helpful so far.

Also, I have been asking for pictures of the progress on the construction site and so far it is only a sand plot ( i have pictures to share with you if you want (jeromearribas at btinternet dot com). I have been told by the sales agent this morning that they are supposed to start shortly...I still have the same confidence in the project but I feel it is quite delayed already, I can't see how they would have units ready by the end of the year...

Ask for a copy of the Environmental Permit to build. This is the main reason for delays on constructions in Natal. IDEMA can be terrible, denying the right to build or even halting constructions already started. This is a "must have" document before applying for a purchase.

G'Luck!!

Hi everyone,
We are in the process of buying one of the C type villas. Originally wanted the B type but our reservation cash was delayed and the developer sold it on site! Made up for it by giving a little discount on our present purchase. This is our 1st venture in the property market abroad and hopefully it will continue to be as stress free as it has been so far. Would be interested to know if other owners are going to advertise and rent out their properties themselves or will you be looking to use a rental/management company? Hoping to pay a visit to the area in March 2008. If the area and this project are as successful as the forecasts then we will have to book the flight soon as the plane is likely to be full! Would like to get in contact with June R if possible at some stage as you have actually been out there.
Good luck everyone

I have just signed the contract for my C type villa - or so I'm told by Manzanares - as I haven't actually received a copy of the signed contract yet. That said, they have been very helpful and are very quick in responding to any questions I have. I'm not sure about renting yet. Will review nearer the time of completion - which looks as if it's going to be a failrly long time!

The water report is now signed off and there are no other building licenses required (according to Manzanares). I paid my first installment yesterday!

The airport is most certainly detsined to be primarily Cargo but the passenger throughput will still be quite high - though talk of it being the 8th biggest airport in the world are true this is for cargo NOT passenger. Although this will be useful for us I'm more interested in seeing operators offering direct flights other than Thomson to Natal (at the old airport).

I also cannot see the first places being ready on time but to be honest I'm not concerned about initial delays. You're going to get that anywhere in the world.

I will make sure I'm out there as soon as it's built to make sure any snagging issues are taken care of.

It's also vital that facilities are up and running for the completeion of the first phase.

As for rental I don't think we're going to get much money here. 80% of the people using this resort are going to be brazilian and they are not going to be european prices. I reckon a maximum of 300 euros a week. I was told onsite rental is going to be pooled and the proceeds split 50/50. By the time you've paid the maintenance costs of 50-150 euros (no idea which end of the scale but figure the A/B/C villas will be at least 100) You're not going to be banking much.....however any gains made here are likely to come from the growth in real estate prices at least until the americans discover the place and/or get fed up with the caribbean (which will take a long time judging by the ridiculous flight schedules to Natal from anywhere in the US maeaning it's quicker for us brits to get there than them).

It's exciting this isn't it!

Hi Everyone,

Me and a mate, have just signed up for two, one bed apts on PDC. Block F and I. Really good to see this forum up and running this is our first dabble in overseas investment...Eager for any advice that hasn't been covered on here.

Ive had my eye on some land in the area for a few weeks and wondered what you thought about GLOBAL WARMING causing sea levels to rise?

Its starting to play on my mind a little.

Property is worthless if flooding becomes an issue.

Is there a development that has its foundations a few metres above sea level?

quote:

Originally posted by Lee A.:

however any gains made here are likely to come from the growth in real estate prices at least until the americans discover the place and/or get fed up with the caribbean (which will take a long time judging by the ridiculous flight schedules to Natal from anywhere in the US maeaning it's quicker for us brits to get there than them).

Do not count on Americans, the interest for property in USA will be zero in the current situation there.

I have just returned from a reccie in the Natal area (incl a few days in Maracajau), the Fortazleza area and the Salvador area. I am off on another trip tonight so I only have time to post very briefly. I won't be investing in this particular development as I think that there are more lucrative opportunities in NE Brazil. There is so much land and property for sale that a trip out there is essential. I would recommend renting a vehicle and seeing the area under your own steam rather than staying in sanitised tourist enclaves and being ferried about by real estate agents. My impression of Maracajau was that it will take off in a big way ... but ... I think it is only suitable for those investors who are in it for the long haul ... maybe 5 -10 years. Some opinions expressed by English speaking locals, and French and English ex-pats:

1) It may be difficult to generate any rental income outside of Dec, Jul, Aug and Carnaval month for the foreseeable future. This was born out by the fact that (aside from some day trippers to the reef) Maracajau was devoid of tourists.

2) A lot of big projects remain on paper in Brazil.

3) Legal processes can move very slowly indeed.

4) Brazil's reputation for high crime rates is mainly limited to the cities.

5) The completition of the bridge will really open up the Northern coast line.

I agree about this being a long term investment. This is very early and there are not going to be quick wins here. I'm thinking 5 years minimum and likely 10+. I invested here rather than keeping AVC pensions going as pensions are not the safe house they used to be.

Good comments Worcs.

Just for bit of comparison with PDC, this development is charging a whole lot more per square meter: http://www.lagoadocoelho.co.uk/index.php

Buy low sell high.

Hi to all,

I`m buying a lot in the Canoa Quebrada beach throw the brzilianfrontbeach company. I`m wondering whether somebody has purchased some of those lots and/or you have any experience with this company?

Thanks

Hiya,

Seems to have gone a bit quiet lately about people's general progression on Porto. If anyone's interested I'm about to send over the first installment for my one bed apartment. I asked Manzanares for a discount as I heard they were doing that with some people as so many buying on this developement through them, but they turned me down. Should have negotiated before I sent them any dosh! They seem very keen to get me signed up to the point of saying the developer would be putting it back on the market if I didn't cough up soon.

I don't even know if building has started. They keep neatly avoiding that question. Does anybody else?

I understand that construction has not yet started and has been delayed for about 2 months. Apparently this is due to Brazilian bureaucracy ! No surprises then

quote:

Originally posted by Josie A.:
I don't even know if building has started. They keep neatly avoiding that question. Does anybody else?

Are there any clauses in your contract which allow you to exit should they not meet certain build phases at pre-defined points in time?

I'm fortunate in that I'm not in a rush for it to be completed.I've paid my deposit. However, the solicitors will not make any further payments until they are satisfied that each construction stage is where it should be. I expected delays but this might prove frustrating for some people.

quote:

As for rental I don't think we're going to get much money here. 80% of the people using this resort are going to be brazilian and they are not going to be european prices. I reckon a maximum of 300 euros a week. I was told onsite rental is going to be pooled and the proceeds split 50/50. By the time you've paid the maintenance costs of 50-150 euros (no idea which end of the scale but figure the A/B/C villas will be at least 100) You're not going to be banking much.....however any gains made here are likely to come from the growth in real estate prices at least until the americans discover the place and/or get fed up with the caribbean (which will take a long time judging by the ridiculous flight schedules to Natal from anywhere in the US maeaning it's quicker for us brits to get there than them).

Hi Everyone,
I am yet another first time investor, and I am very interested in the NE of Brasil. I am considering Porto Dos Corais or Sun Towers in Natal - has anyone else looked at this - it says "A guaranteed rental scheme is in place offering purchasers 5% p.a. for 5 years"
http://www.dreamhomesww.com/guides/Sun-Towers.pdf

So not sure which property to go for - does anyone have an opinion on ivesting in Natal itself?

Also - does it matter which ageny I buy though? eg DreamHomes WW or Newsys. Newskys seem to have cheaper prices for Porto Dos Carais.

And from the Forum above it looks like Manzanares International is the recommended Lawyer.

Has anyone got any news on how they are getting on with your purchases?

Do you think it is worth taking time out and paying for a visit to Natal before purchasing anything - eg Dream Homes do a 4 day trip for £500 and they give you £250 discount if you buy through them.

Hope you can help - Hazie

Hi Hazie (and everybody else)

Beware the rental guarantee! It´s only a good deal if it´s justifyable - ie there are contractts in place with tour operators to rent your property out. If there´s not, you can be sure that it is either built into the price or a better rental yield than 5% is available. For people who got in early at Porto Dos Corais, 8-10% (gross) should be realistic considering the length of the season(s). Brazilians won´t have to pay European rates to justify good yields. With Sun Towers, just remember that the interest rate on deposits in Brazil is 12.5%. Compound that over 5 years, and of course he has enough money out of his additional profit to pay you back 25% of the purchase price. There´s still a handful of decent units at PDC. I´m hoping to win the lottery at the weekend and that penthouse in Block I with the rooftop jacuzzi is mine!!!!!

quote:

Originally posted by Hazie-baby:
And from the Forum above it looks like Manzanares International is the recommended Lawyer.

Hope you can help - Hazie

Hi, Hazie, welcome to the forums!

I believe Manzanares is one of the alternatives presented above. I have recommended Almeida Advogados ( www.almeidalaw.com.br ), which were the legal advisors of the company I worked for in Natal. Their local partner is Dr. Doval, very nice guy and speaks perfect english. Try them as well, I've noticed they have been helping some buyers in Porto Brasil project lately.

Good luck!

Hey all,

Just to let you know, so far, still no official construction date from neither our lawyers (manzanares) nor the sales agent so we are not signing the contract...Still love the project and hope to go ahead but want to find out why they are delayed, might be for a minor authorisation problem or a major issue...do you guys have any feedback ?

I understand that the hold up may be due to red tape involving licensing of the workforce. Apparently all employees who work on the project have to be properly licensed.