Prices In This Coastal Paradise Are Deep In Bargain Territory
Palm-studded sandy beaches, warm turquoise waters, and a great property market…that pretty much sums up my first impression of Maceió, Brazil. After spending a few days in this city, my impression only improved as we explored the fine dining, beachside bars, and wild and beautiful coast that runs north and south from the city.
Best of all, thanks to today’s favorable exchange rates, you can buy a home in one of Maceió’s best beachside neighborhoods for less than US$100,000.
Capital of the state of Alagoas, Maceió (pronounced mah-say-OH) is located on the peninsula that separates Mundaú Lake from the Atlantic Ocean, about 168 miles south of Recife. A natural point of land juts into the ocean from the center of town and separates the town’s beach sector into two parts, each with two major beach areas. My favorite beaches are north of that point.
A wide beachfront avenue runs along Maceió’s clean and attractive boardwalk, which is busy all day with joggers, walkers, and people relaxing on a bench or keeping fit at the oceanfront exercise area.
Groves of palm trees surround seafront restaurants, beach bars, and the kiosks that dot the beach side of the boardwalk. On the city side of the boardwalk, the avenue is lined with tasteful buildings, restaurants, and hotels. The eight-story limit keeps the boardwalk and beach from feeling crowded or hemmed in by a wall of highrises.
The waters in Maceió are warm and blue and calm thanks to a barrier reef just offshore. The beaches in town are clean and well kept, with fine sand and swaying palms. They’re fairly busy, too, especially during holidays and weekends. But at the city’s edge the crowds disappear…
leaving miles of uncrowded beaches fringed by palms and natural vegetation.
The property market here has performed well, and its growth looks to be at a sustainable rate. Prices for beachfront in Maceió have gone up about 35% since 2009. That’s about 7% per year, which is respectable but, again, also sustainable.
And right now, thanks to the exchange rates, even though values have gone up 35% in Brazilian reais, the prices in dollar terms stand at 2009 levels. So it’s a very good time to be looking at Maceió.
Ponta Verde is my personal favorite residential neighborhood here, its beach my favorite beach. Ponta Verde is the southern starting point of Maceió’s best area for restaurants, the boardwalk, and the city’s best hotels. It is also the start of a long stretch of sandy, palm-lined beaches heading north.
Jatiúca is adjacent to Ponta Verde and is Maceió’s most popular area for visitors and travelers. Jatiúca starts at Ponta Verde and continues the same stretch of terrific beachfront northward. It’s Maceió’s best area for nightlife and has the highest concentration of hotels and resorts.
The Farol district sits on a hilltop overlooking the beach neighborhoods about 8 blocks away. Property prices are lower here, and you can find some with super views. Farol is definitely worth checking out if you enjoy ocean views, don’t need to be near the beach, and would like to save some money.
Bottom line, prices in Maceió and Farol are deep into bargain territory.
Lee Harrison
Editor’s Note: Correspondent Lee Harrison writes a free weekly update on key property markets around the world. His Overseas Property Alert dispatch this week features a complete overview of Maceió, including details of particularly appealing properties currently on the market. If you aren’t receiving Lee’s OPA yet, sign up here now. Again, it’s free.
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