Brazil is set to build 610,000 new housing units as it looks to provide more affordable housing for its population, according to a recently published report.
The ‘Minha Casa, Minha Vida’ (My House, My Life) programme is expected to propel the construction sector forward and boost the overall economy.
“There is no economic growth in Brazil without the growth of civil construction,” the president of the Brazilian Real Estate Developers Association (Abrainc), Rubens Menin, told Portal Planalto. “The construction sector represents 8% of GDP and is the one that employs the most people. This [the new set of measures] will have a great impact in the economy, social development and, evidently, employment. This is a very important pillar for the country to start growing sustainably again, creating jobs and fostering social development; home ownership is social development.”
The construction sector represents 8% of the GDP and is the most important sector in terms of employment.
In addition to the new houses that can now be built under the programme, the government has also adjusted the maximum monthly income brackets for eligibility of families to receive subsidised mortgages.
The sector's potential to kick-start the economy was also highlighted by the vice-president of the Brazilian Civil Construction Chamber (CBIC), Betinha Nascimento. “Today, the civil construction sector is the one that can provide the most immediate response. It starts with sand, cement and gravel. It is the 'one-thousand-items chain'. It is a segment that affects the whole market", she said.
“The final project went through a lot of discussions and was well thought out,” said Menin. “It is the appropriate solution for the moment. We worked a lot on the bottlenecks to undo the deadlocks. Therefore, all of this was discussed and, importantly, the solution is sustainable.”
World Architecture News are holding a Housing Symposium on May 23rd in Central London.
Experts will debate the Perfect Storm of conditions on the near horizon, which could provide a unique, once-in-a-lifetime climate for delivering a record number of housing units to the London boroughs. Follow the link to book your place...