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Investment in the Real Estate Sector of Salvador

Besides being one of the oldest Brazilian cities, it is also the third most populated city of the country.

The city of Salvador is very popular for its music, cuisine and architecture. Also, its metropolitan region is the wealthiest area in Brazil's Northeast. Pelourinho, the historical center of Salvador, is very popular for its Portuguese colonial architecture that boasts of many historical monuments that date from the 17th through the 19th centuries. In 1985, UNESCO declared Pelourinho a World Heritage Site.

World-renowned automobile company, Ford Motor Company, has a unit in Salvador's Metropolitan region. This unit is concerned with assembling popular Ford car models including the Ford Fiesta Sedan, Ford Fiesta and Ford EcoSport. Salvador is the only city in Northern and Northeastern Brazil to have an automotive industry. This industry employs more than 800 engineers.

Monsanto, a renowned agriculture company, inaugurated the first plant of the company in the Metropolitan region of the Salvador. This plant is concerned with producing raw materials for the purpose of the herbicide Roundup in the South American region. The investment for this is equivalent to approx. US$500 million.

This unit has a vast area of 631,000 square kilometers. This includes a constructed area of 200,000 square kilometers. After the completion of the two phases of this unit, it will employ around 1,400 people, through both indirect (1050) and direct (350) employments.

The following two industries have played a major role in spurring the economic growth of Salvador:

1) Tourism industry:

Investing in Salvador's tourism industry can prove very profitable. Located at a distance of 1,730 kilometers from the Brazilian city of Rio de Janeiro, Salvador is the second most preferred tourist destination in the country. Tourism industry has contributed significantly to the economic growth of the region. Salvador, due to its exotic locales and scenic beauty, attracts tourists from both Brazil and outside of Brazil. Its tourism infrastructure is regarded as one of the most modern infrastructures throughout the country.

2) Real Estate Sector:

Salvador can be the perfect place for real estate investors. In comparison to the property rates of Spain, Britain and the Mediterranean region, the property rates in Salvador are much less and so, affordable. Besides, the annual residential values of Salvador are increasing at a rate of 20% per year. Hence, investors who decide to invest in Salvador are bound to get huge profits later. In fact, many real estate experts consider Salvador to be the last reasonably priced piece of exotic land left. In Salvador, a 3-bedroom villa along the beach can cost as little as £45,000.

Investment services in Brazil also offers an abundant, amiable and skilled workforce that strengthens its status as an investment hub.

All these reasons have made Salvador one of the most sought-after regions from the investment point of view.

 

About the Author

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