JUNE 2011 |
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EDITORIAL Group editor Geoff Hadwick ✆ +44 (0)208 734 3970 geoff .
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International property reporter Amit Katwala ✆ +44 (0)208 734 3973
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IN THIS MONTH’S OPP ...
The giant awakes The Last Word (p64 - 65) The Hideaways Club started quietly and has taken its time establishing a fund designed to acquire 100 high-end, luxury properties scattered around the world’s most desirable places to be. But now, with a new, young and dynamic boss in place, the company is moving on. What drives Nick Bettany?
WINNER
OPP Awards 2011 Enter now (p7) It is time to start preparing your entry for the OPP Awards for Excellence 2011. Don’t leave it until the last minute to put your submission together. Have you got what it takes?
ADIT Invest 2011 Brazil report (p52 - 55) The tourist city of Fortaleza hosted Brazil’s largest B2B real estate and tourism investment conference last month. What sort of opportunities were on off er there?
Stand up and fi ght News analysis (p45 - 46) Britain’s Financial Services Authority (FSA) is starting to crack down on unregulated collective investment schemes. Is it time for you to make a coordinated protest?
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Brazil snapshot Datafi le (p60 - 61) In Q3 2010, the average price of new property launched in Brazil surged by 25% year-on-year to BRL3,465 (US$1946) per sqm. Wouldn’t your business like to be involved ?
Reporter Amit Katwala
Editor’s letter • Geoff Hadwick ✆ +44 (0)208 734 3970 geoff .
hadwick@richmondgreengroup.com | 5
Brazil: a treasure chest of opportunity?
economy? An audience member at one of the panels during the opening day of ADIT Invest 2011 last month said that emerging markets could be differentiated by their lack of basic infrastructure. Using that measure, Brazil defi nitely still feels like an emerging market, at least if the bumpy drive from the airport in Fortaleza is anything to go on.
H Fortaleza is the Blackpool of Brazil
and it’s growing fast. The population is now approaching four million, and it is supposedly readying the infrastructure for the World Cup in 2014, as it will be one of ten host cities. The growing population and increasing middle classes need homes, and the World Cup in 2014 and Olympics in Rio de Janeiro in 2016 should focus the eyes of the world on the country, and perhaps bring in more tourists ... just 5 million arrived from abroad in 2010. With the high demand for property and the economic growth, the opportunity for overseas property professionals has been
ow can you tell when a market has emerged? When does it start to become a developed
reduced, according to some. The price of land is going up, especially in the major cities of Rio and Sao Paulo where it has almost doubled in the last few years, sparking fears of a property bubble. ADIT panelist Greg Rockwell of Capital Activities said: “It’s good that people are talking about, because it means if there is one you’ll see it coming.” Combined with this growth in property
prices, the strong Real is making property more expensive in real (and Real) terms for overseas buyers, and the government is said to be discussing measures to devalue the currency and smooth the flow of inward investment. Smoothing the fl ow of foreign investment is vital and the barriers to entry remain too high. So why is there a sense of indifference towards changing things? Is it because Brazil doesn’t need foreign investment in order to grow? Its economy is booming on the back of its internal demographics. Getting things done in Brazil might feel like hard work at times, and it could be about to get harder and less profi table, but Brazil still provides the overseas property sector with a treasure chest of opportunities.
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