Brazil 20% return on social housing boom from £22.000

les — Thu, 05 Aug 2010 09:01:07 +0000

Brazil has a population of 190 million inhabitants and a housing deficit of 8 million homes with the vast majority being houses for low-income families. By 2023 this shortfall will be 12.5 million homes

In 2009 Brazilian Government announced “Minha Casa Minha Vida” (“My House My Life”) program which outlined the structure of their investment of 34 Billion Reals (US $18 Billion.) to provide low-income Brazilian families with a place to live. The Brazilian government wants to see growth in the affordable housing supply to keep up with the high demand created by this program.While credit is tightening worldwide, Brazil is unique in the sense that only 10% of real estate is currently mortgaged. This is the first time low income Brazilians can obtain mortgages, previously only the wealthiest of Brazilians could obtain mortgages. Loans will be between 5%-6% depending on income.Within one week of launching the program over 25,000 families had signed up to the program in our target city of Natal, Rio Grande do Norte, recognized as the region of Brazil with the largest natural demand of the My House My Life program. Currently there is a 70,000 waiting list waiting list and only 2,000 approved homes.Price from £22.000 (arco)

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Town:Natal

Region:Rio Grande Do Norte

Country:Brazil

Property Type:Apartments

Bedrooms:2

Bathrooms:2

Price:£22.000

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Brazil 20% return on social housing boom from £22.000