The biggest country in South America, with the continent's longest coastline, Brazil certainly has both the space and beauty to grow its stake in the overseas property market. Indeed, with an annual influx of five million tourists, the land of samba, carnival and caiparinhas also has the profile to pull off the trick of being one of the world's hottest emerging property markets.

Now it seems that Brazil might be developing the product to go with this potential, as in recent weeks the number of property developments being launched in the north-east of the country has gathered pace.

One of the biggest is Lagoa Do Coelho, situated near the city of Natal. The development will comprise a total of 13,500 properties, and the apartments will face either the beach, a lake or the resort's golf course.

Despite its sheer scale, property agents have been quick to point out the green credentials of the project. "Lagoa Do Coelho is an ecologically friendly resort which is being developed to be in harmony with the natural landscape of the country," Keith Grainger of Pinto International explained. "Many people think of busy, oppressive cities when they think of Brazil but the north east is a beautiful, unspoilt area and the air is said to be the second purest in the world, after Antarctica," he added.

Not that its unspoilt surroundings will make Lagoa Do Coelho difficult to get to: a new airport is being constructed in Natal that should reduce driving times to the resort to as little as 30 minutes. Although Varig, one of Brazil's leading airlines, has been weighed down by growing debt problems of late, it was announced this week that Brazilian budget airline Gol is bidding for its rival, so those planning to purchase properties at the resort should have no particular concerns regarding access. The one-, two- and three-bedroom apartments at Lagoa Do Coelho are available through a number of agencies, including AGS Properties and International Property Estates, with the lowest listed price being 73,000 euros (£49,600).

Alternatively, should you wish to have a property built to your own specifications in the same area of Brazil, frontline beach plots in Maracajau are available through International Property Estates, priced at £35,000; build costs are estimated at £400-£500 per square metre. The company notes that it is currently running the necessary planning permission checks on the plots, but that the green light given to hotels and a golf course in the area make Maracajau an investment hotspot of note within the Brazilian property market.

Robin Barrasford, of Barrasford and Bird Worldwide, certainly believes that the time has come for investment in the Brazilian property market. "Brazil has perhaps been overlooked in recent years, particularly when so much attention has been given to the European markets. However, investment in Brazil is now the order of the day and with entry-level prices for property at the same level Bulgaria was at a few years ago investors are keen to take advantage of this.

"Brazil's sound infrastructure and tried and tested resale market mean that there are few downsides to investment here," he concluded.

Barrasford and Bird Worldwide is currently marketing Edifico Leiria, an apartment block in an upmarket area of Maceio, the capital of Alagoas state. One- and two-bedroom apartments are still available at the development, with prices starting from £22,128.

With the company not alone in championing investment in the Brazilian property market, the tempo of development should get faster still.

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Article published on 29 March 2007