I am a developer and investor in Ceará in the northeast of Brazil and have propbably posted way to late as I guess you will have invested and know for yourself by now...but anyway...
I know "MikeC" very well and he is a well respected developer in this area and it is interesting to say now after a few months that the prices he gave for beachfront land per m2 have risen by a considerable amount. This only goes to justify the investment opportunity in this area. The recent national press has stated that Fortaleza has become the number one state for foreign investment in the northeast and is far from a domestic market as stated in a previous post.
You have asked about location for investing and I would suggest no more than an hours drive form the capital of whichever state you eventually choose...this dictates the price and investment potential and is one of the important and most asked questions when it comes to sales.
Property prices are rising steadily as always but be aware of overpricing.... a common practice from UK and US agents to cover their high overheads and commisions.
Always demand to speak with and get to know the seller or developer before buying and at least you can make a better judgement as to how good the investment is before commiting any hard earnt cash.
Anyway...that's my word for now...
Feel free to contact me direct .. Property Brazil - Brazil property for sale near Fortaleza