巴西東北部旅游房地產市場開發(fā)【外文翻譯】

1、1外文翻譯外文翻譯原文TourismRealEstateDevelopmentsinNtheastBrazilMaterialsource：ADITNEAuth：DiogoCanterasINTRODUCTIONThisarticleisfocusedontheTourismRealEstateinNtheastBrazilamarketthatevolvedswiftlyinthepastfewyearsastheresultofwl

2、dwidecheapcapitalavailabilityimprovedtourismdestinationsperceivedinvestmentpotentialafavableexchangeratelowBrazilianassetprices.Theinfmationanalysesconclusionspresentedhereinaretheresultofanextensiveresearchedcarriedoutb

3、yHVSNewmarkKnightFrankonbehalfofADIT–NE(AssociationftheDevelopmentoftheTourismRealEstateMarketinNtheastBrazil).TheAssociation’sgoalistoproviderelevantinfmationanalysestogovernmentauthitiesinvestsdevelopersindertoassistpl

4、anningdecisionmaking.TheresearchincludedvastsecondarydatacollectionfieldwksallovertheNtheasterncostmethan70interviewswithdevelopersgovernmentauthitiesbrokersconsultantinvests.ItsmainfindingswerepresentedinNderstedtInvest

5、2008(anindustrymeeting).ThecompleteresearchfindingswillbepublishedbyADITNEsoon.Thisarticlehassixsectionsapartfromthisintroduction.Thefirsttwosectionspresentourdefinitionofthetourismrealestatemarketshowscurrentmarketdatap

6、rojectionsofsupplydemfresidentialunitsintourismrealestatedevelopments.Thethirdfourthsectionspresenttherestmarket’sperfmanceaswellasprojectsupplydemfrestdriversaffectingthetourismrealestatemarketinBrazildrawsomeconclusion

7、provideRecommenddictionsfindustrystakeholders.THETOURISMREALESTATEMARKETTourismrealestatepropertiesarethoselocatedatdesiredtouristdestinationscomposedbysecondhomeunitslargetourismleisurefacilitiessuchashotelsparksmarinas

8、golfcoursesetc.Thesefacilitiesenhancetouristexperienceinducetouristflowsprovideservicestoguestsowners.Therefethey3Speedinthepastyearswassomewhatlimited(asstatedpreviously)evenwithVeryfavablemarketconditions.2.Althoughthe

9、rehasbeenanincreaseinfeigndemithasbeensignificantlyLowerthanmostexpectationseveninafavableenvironment.Intheshttermtherearefacts(suchastheinternationalfinancialcrisis)thatwillhinderfeigndem.Inthetermfeigndemshouldincrease

10、againbuttherearenosignsthatsuchdemwillbemuchhigherthanthepreviouslyobservedhighenoughtoabsbtheannouncedsupplyofresidentialunits.3.Traditionallylargedevelopmentstakeseveralyearstobuildsellallresidentialunitsastheyareusual

11、lydevelopedinsmallphases.Ifanyphaseunderperfms(sellsslowlyatlowprices)subsequentphasesaresuspendeduntilmarketconditionsimprove.Thusthemarketmechanismspreventsupplygrowingfasterthandeminnmaltimes.4.Basedonthisinfmationont

12、heindividualanalysisofallexistingprojectswedevelopedafecastofsupplydemfasevenyearperiod.Thistimespanreflectsourestimationoftheperiodrequiredfprojectsunderdevelopmenttofinishatleasttheirfirstcurrentphase.Giventhecloserela

13、tionshipbetweensupplydemweexpectfuturedemftourismrealestateresidentialunitsinNtheasternBrazilwillbesufficienttoabsbtheprojectedsupply.Thisexpectation(basescenario)isrepresentedbythebluelineinPicture5.ThisPicturealsoprese

14、ntsdemfecastsftwoextremealternativescenarios.Theoccurrenceofthesescenariosissubjecttothebehaviofthefollowingvariables:exchangeratesairtravelaccessibilityfinancingavailabilitytheinternationalpromotionofBrazil’stourismindu

15、stry.TheoptimisticscenarioassumestheexchangeratewillrisestayatrelativelyhighlevelsmakingtheBrazilianproductcheaperfinternationalbuyers.Thisincreasedcompetitivenessalongwithinvestmentininfrastructuremarketingwillincreasea

16、ttractivenessairtravelaccessibility.Simultaneouslytheendoftheinternationalfinancialcrisisresumptionofinternationalgrowthwillfostertheavailabilityoffinance.Thepessimisticscenarioassumestheovervaluedlocalcurrencythelackove