Fortaleza in Brazil is one of the top holiday destinations for domestic tourists and is especially popular middle-class attracted by the beautiful beaches and year round good weather. Today the three-mile long boardwalk in Fortaleza has been extended along to Iracema and is now fully built. Prices in Fortaleza have nearly doubled during the last three years and experts expect them to rise further with continuing demand.
This has increased the focus on Iracema and it is now the subject of a $6 billion investment into tourism and its infrastructure. The signs are already in place as the boardwalk has been extended and lots of bars and restaurants have already opened anticipating the huge increase in business that will take place in 2013 with the Confederations Cup and in 2014 with the FIFA World Cup. There are plans to build a new hundred and $135 million aquarium which will be the largest in South America and a huge tourist attraction. The area was rezoned in January 2010 and new laws bought the maximum height of a property down from 72 metres to 48 metres. This makes buying buildings constructed under old zoning laws a tempting prospect as they will always have the better views.
The beach in Iracema is truly spectacular as it up to half a mile wide in places and as such attracts many world-class volleyball tournaments. During New Year and Carnival the beach attracts over 1 million people even though it is as yet largely undeveloped. Once this development is complete it is bound to prove even more popular as the short and long-term rental market here is strong with gross yields of up to 10% being possible.