The Island of Itaparica is a Brazilian island in All Saint's Bay, about 10 km from the city of Salvador. Salvador is the largest city on the northeast coast of Brazil and the capital of the northeastern Brazilian state of Bahia. The citys population is 2,7 million inhabitants (2010). Salvador is situated on the northern tip of the entrance to All Saint's Bay, a large natural bay, while Itaparica flanks the southern entrance to the bay.
Salvadors downtown is connected to the Island with passenger- and car ferries. The transfer takes about 50 minutes. Driving around the bay by car takes about 6 hours.
The property on Itaparica has been neglected as a suburban neighbourhood to ever growing Salvador because of the water barrier of the bay and the inconvenient connection via ferries eventhough property in closer vicinity to Salvador is scarce. The City of Salvador was founded by the Portugese in the 15th century on the tip of an peninsula and has been growing away from the tip ever since. Today you have to drive 4 to 5 hours through ferocious south american traffic to find a place where you can build a house or weekend home for your family. Prices are astronomical.
In 2012 The City of Salvador decided to build a bridge over the bay to Itaparica and the property market on Itaparica awoke...
A first project building 800 appartments on Itaparica was surprisingly for all participants sold out after only 3 month. This started a real property gold rush on Itaparica.
It is only now that people realize that the bridge to Itaparica not only opens an almost untouched property market in the near vicinity of Salvador but also connects Salvador to various bigger cities in the backcountry to the west of Itaparica. There is an existing bridge from the island to the backcountry already. Here you also find another international airport which could thrive tremendously besides Salvadors international airport.
The bay bridge once established will put Itaparica into a central position of the entire business area.
Property situation and valuation
It is here where Bahia Profit Partner Ltda. (BPP) owns land and has a building permit to build 76 appartments. The BPP is looking for investors to realize this project in 2014. In 2014 Salvador and surroundings will be getting a lot of attention in the media because of the 2014 Fifa World Cup. Salvador is an official World Cup host city.
Please see the project on the following pages.