Manaus: big homebuilders are attracted to the region as the city verticalizes

If you didn’t read the recent New York Times article about the cities and population growth around the Amazon you have to do it… link below… it gives great insight about the current state of deforestation in the area, but also gives good hints about how fast the region is growing economically:

http://www.nytimes.com/2012/11/25/world/americas/swallowing-rain-forest-brazilian-cities-surge-in-amazon.html

To follow up on that, i have come up with some information about property investment in that region of Brazil. Here are some facts about Manaus, the capital of the state of Amazonas:

The city of Manaus, has increased in importance in the housing market. Compared to the same period in 2010, sales have doubled, growing by 100.38% (1,573 units sold). By 2009, the housing developments were built more for local businesses, but the lack of areas for new works have opened the eyes of the market for the verticalization. This shift in focus has attracted major construction for the region with several homebuilders starting operations and enterprises in that city.

The properties of 50-100 m² were the most sold. The survey shows that the buyers of Amazonas chose three bedroom apartments and properties priced from R$ 100 thousand to R$ 200 thousand represent 43.69% of total sales. Units in neighborhoods like Ponta Negra, Adrianopolis and Aleixo were sold the most, specially properties still being built.

Although the main industry of Manaus through much of the 20th century was rubber, its importance has declined. Given its location, timber and Brazil-nuts make up important trades, as do petroleum refining, soap manufacturing, and chemical industries. Over the last decades, a system of federal investments and tax incentives have turned the surrounding region into a major industrial center (the Free Economic Zone of Manaus).

In Manaus, the Centro is where most of the hotels and attractions are located, a region that rises above the river on a slight hill. As the largest city and a major port on the river, Manaus is commercial. Local industries include brewing, shipbuilding, soap manufacturing, the production of chemicals, computers, motorcycles and petroleum refining .

A few mobile phone companies like Nokia and Siemens, between others,operate mobile phone manufacturing plants in Manaus.

Manaus is one of the cities that will host World Cup games in 2014.

Manaus is a good place for medium size investments in companies in the building supply industry because the city and most towns in the region are only accessible by plane or by boat. Competition is that sector is very low.

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Joe Cloud
Dutch, American, Brazilian... lived there for 5 years and owns property in Brazil. Out of the country for a few years now and would like to go back, however current circumstances tell me it's not the right time.

Published by Joe Cloud

Dutch, American, Brazilian... lived there for 5 years and owns property in Brazil. Out of the country for a few years now and would like to go back, however current circumstances tell me it's not the right time.