巴西東北部旅游房地產(chǎn)市場開發(fā)【外文翻譯】

1、0外文翻譯TourismRealEstateDevelopmentsinNtheastBrazilMaterialsource：ADITNEAuth：DiogoCanterasINTRODUCTIONThisarticleisfocusedontheTourismRealEstateinNtheastBrazilamarketthatevolvedswiftlyinthepastfewyearsastheresultofwldwidec

2、heapcapitalavailabilityimprovedtourismdestinationsperceivedinvestmentpotentialafavableexchangeratelowBrazilianassetprices.TheinfmationanalysesconclusionspresentedhereinaretheresultofanextensiveresearchedcarriedoutbyHVSNe

3、wmarkKnightFrankonbehalfofADIT–NE(AssociationftheDevelopmentoftheTourismRealEstateMarketinNtheastBrazil).TheAssociation’sgoalistoproviderelevantinfmationanalysestogovernmentauthitiesinvestsdevelopersindertoassistplanning

4、decisionmaking.TheresearchincludedvastsecondarydatacollectionfieldwksallovertheNtheasterncostmethan70interviewswithdevelopersgovernmentauthitiesbrokersconsultantinvests.ItsmainfindingswerepresentedinNderstedtInvest2008(a

5、nindustrymeeting).ThecompleteresearchfindingswillbepublishedbyADITNEsoon.Thisarticlehassixsectionsapartfromthisintroduction.Thefirsttwosectionspresentourdefinitionofthetourismrealestatemarketshowscurrentmarketdataproject

6、ionsofsupplydemfresidentialunitsintourismrealestatedevelopments.Thethirdfourthsectionspresenttherestmarket’sperfmanceaswellasprojectsupplydemfrestdriversaffectingthetourismrealestatemarketinBrazildrawsomeconclusionprovid

7、eRecommenddictionsfindustrystakeholders.THETOURISMREALESTATEMARKETTourismrealestatepropertiesarethoselocatedatdesiredtouristdestinationscomposedbysecondhomeunitslargetourismleisurefacilitiessuchashotelsparksmarinasgolfco

8、ursesetc.Thesefacilitiesenhancetouristexperienceinducetouristflowsprovideservicestoguestsowners.Therefetheyimprovedesirabilityleveragepricessalesspeedofresidentialunits.Althoughtheoperationofsuchfacilitiesmaybeunprofitab

9、lethevaluetheyadd22.AlthoughtherehasbeenanincreaseinfeigndemithasbeensignificantlyLowerthanmostexpectationseveninafavableenvironment.Intheshttermtherearefacts(suchastheinternationalfinancialcrisis)thatwillhinderfeigndem.

10、Inthetermfeigndemshouldincreaseagainbuttherearenosignsthatsuchdemwillbemuchhigherthanthepreviouslyobservedhighenoughtoabsbtheannouncedsupplyofresidentialunits.3.Traditionallylargedevelopmentstakeseveralyearstobuildsellal

11、lresidentialunitsastheyareusuallydevelopedinsmallphases.Ifanyphaseunderperfms(sellsslowlyatlowprices)subsequentphasesaresuspendeduntilmarketconditionsimprove.Thusthemarketmechanismspreventsupplygrowingfasterthandeminnmal

12、times.4.Basedonthisinfmationontheindividualanalysisofallexistingprojectswedevelopedafecastofsupplydemfasevenyearperiod.Thistimespanreflectsourestimationoftheperiodrequiredfprojectsunderdevelopmenttofinishatleasttheirfirs

13、tcurrentphase.GiventhecloserelationshipbetweensupplydemweexpectfuturedemftourismrealestateresidentialunitsinNtheasternBrazilwillbesufficienttoabsbtheprojectedsupply.Thisexpectation(basescenario)isrepresentedbytheblueline

14、inPicture5.ThisPicturealsopresentsdemfecastsftwoextremealternativescenarios.Theoccurrenceofthesescenariosissubjecttothebehaviofthefollowingvariables:exchangeratesairtravelaccessibilityfinancingavailabilitytheinternationa

15、lpromotionofBrazil’stourismindustry.TheoptimisticscenarioassumestheexchangeratewillrisestayatrelativelyhighlevelsmakingtheBrazilianproductcheaperfinternationalbuyers.Thisincreasedcompetitivenessalongwithinvestmentininfra

16、structuremarketingwillincreaseattractivenessairtravelaccessibility.Simultaneouslytheendoftheinternationalfinancialcrisisresumptionofinternationalgrowthwillfostertheavailabilityoffinance.Thepessimisticscenarioassumestheov

17、ervaluedlocalcurrencythelackoverinvestmentininfrastructurepromotiontheabsenceoffinancingoptionswillmakeBrazilunattractivefinternationalbuyers.Consequentlythetourismrealestatemarketbecomesexclusivelydependantonthedomestic