Discover Sea, Sand, Sunshine (and Second Homes) in Brazil’s Maceió

Wednesday, November 04, 2009

Maceió’s endless-summer feel makes it an ideal second-home destination

Dear Reader,

I scheduled this stop on my Brazilian coastal trip at the last minute. But I’m glad I made the time, because I’ve discovered a place that I’m sure will prove to be of broad interest to expats. That place is Maceió, in the Brazilian state of Alagoas. It’s a city that has the amenities of Recife’s Boa Viagem district, without the sharks.

Surprisingly, Maceió is not well-known outside of Brazil. Yet it has all the qualities you need for a second home location: year-round sunshine, good infrastructure, big-city conveniences, and beautiful beaches. Now that Brazil’s coast is attracting increasing numbers of North American buyers, I don’t think Maceió will remain unknown for much longer.

Maceió has that endless-summer feel. The light sand of the city beach hugs the bay. The jade colored water sparkles in the sunshine, while surfers effortlessly maneuver the rolling white-capped waves.

The boardwalk runs alongside the beach, and gives you the chance to admire the bay and the gleaming condo buildings on the other side of the road.

Maceió has all the conveniences you need, from shopping malls to large supermarkets to modern hospitals and clinics. This is a family-friendly place. Sections of the boardwalk close to traffic on weekends so children can cycle with their parents, or stroll in groups.

Stages are sometimes set up for live music (a classical band played while I was here), and many of the boardwalk cafes and restaurants offer live music in the evenings. You can buy newspapers, juice drinks, fresh coconut water, traditional tapioca pancakes and ice cream from the boardwalk kiosks.

Maceió doesn’t have much in the way of historic or cultural attractions. It’s the capital city of Alagoas, a state sandwiched between the states of Pernambuco and Sergipe. The economy of Alagoas has gradually switched from sugar to service industries over the years.

Nowadays, the focus is the beach. In the last twenty years, increasing numbers of tourists have changed Maceió from a sleepy port town to the Miami-style destination it is today.

The city has a choice of beaches. Jatiúca has an upscale feel, and a nicer stretch of sand than Ponta Verde (Ponta Verde is where most of the tourist hotels are located). If you travel a little further outside the city, you’ll find less crowded beaches, shaded by coconut palms, and tiny fishing villages.

There’s a luxurious feel to the ocean-view buildings facing the boardwalk, and price tags to match. Most apartments are the larger sizes favored by Brazilian families, ranging from 250-500 square meters (2700 to 5400 square feet). These prime apartments can cost up to 3 million reals ($1.73 million) which works out to around 6000 reals per square meter ($3460). That’s comparable to the 5000-7000 reals you’d pay in Recife’s Boa Viagem district.
Go a block or so back from the beach though, and prices drop dramatically.

I viewed one development, already halfway constructed, on an elevated site in the city. Even from the ground floor, the view was incredible. The city lay at my feet, stretching to the beach and the emerald ocean. Pricing started at 211,545 reals ($122,210). That’s $1438 per square meter.

One interesting concept was Jatiúca Trade Residences, a complex of residential apartments, commercial properties and a spacious leisure area. Situated directly opposite the boardwalk, unit sizes ranged from 73 to 113 square meters (785 to 1200 square feet), and price points from 199,192 reals ($114,280). The average per square meter price is $1750—this development is centrally-located. The developer is a major Brazilian house builder in partnership with a local constructor.

Another development one block from the beach, already under construction, had units averaging 43 square meters (463 square feet), with prices from 116,500 reals ($66,500). That’s $1546 per square meter. It’s not as central as Jatiúca Trade Residences, but it is still very close to the boardwalk and beach.

A re-sale apartment just off the boardwalk was 280,000 reals ($159,829) for 130 square meters…just $1229 per square meter. This to me was a real bargain. The spacious apartment boasted a near-perfect location, next to the boardwalk and a small upscale resort hotel, and within walking distance of shopping, restaurants, nightlife…and only a couple of minutes from the beach.

While today, Maceió is still relatively unknown outside of the domestic tourist market, it looks as if Maceió’s city plan will include more tourist amenities in the future. I noticed that some major Brazilian development companies had several large tracts of beachfront land bordering Jatiúca, on the city’s outskirts. I will investigate and see whether their plans are short-term land banking or resort-style development.

Maceió is an ideal location for a second home, for a beach-lover or water-worshiper. For many, it would also be a great place for retirement. If you’re interested in any of these properties, or others in Maceió, email (JavaScript must be enabled to view this email address).

Margaret Summerfield

PS: Speaking of retirement, I found a great location that many will find just perfect. I’ll have a report ready by next week.

Editor’s note: The prices in this report are based on an exchange rate of R$1.73 Brazilian reals per US dollar.