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Brazil Property Market Growth: Great News for Housetech Developments

10-04-2011 10:45 PM CET | Industry, Real Estate & Construction

Press release from: Housetech Developments

Brazil Property Market Growth: Great News for Housetech

The implementation of Brazilian Social Housing project, Minha Casa Minha Vida now means that 67% of the Brazilian population are now in a position to invest in buying a home.

As little as 10% of the Brazilian population were able to afford to invest in housing in 2005 – now in 2011 this figure has rocketed to 67%.

Waseem Saddique, founder and current acting CEO for Housetech Developments; a specialist real estate development company in Brazil talks about what this means for Housetech.

“A constant decrease in disparity means that it is becoming easier to own a property in Brazil so this percentage is only set to rise further,” says Waseem Saddique.

The Brazilian housing industry has witnessed tremendous growth during the past few years and the government’s commitment has encouraged developers to invest in Brazil.

In 2009 the Federal Government launched the Minha Casa, Minha Visa (My house, My Life) campaign as a means of eliminating the inequality gap and housing deficit in Brazil.

“We have been focussing on affordable housing for the lower and middle class population,” says Waseem Saddique.

Reports show that by the end of 2014, the housing demand in the country is estimated to reach around 1.8 million; therefore Minha Casa Minha Vida will add 2 million homes to the market with particular emphasis on the lower end of the income scale.

As phase 2 of Minha Casa Minha Visa came underway president Rousseff announced that the Brazilian low income will find it much easier to buy their own home because the government will partly pay for property purchases.

“The Minha Casa Minha Vida project has accelerated growth in the real estate market because it provides many Brazilians with the finance necessary to make their first home purchase,” continues Waseem Saddique.

In 2005, the average monthly income needed to purchase a home was R$4,500, a figure far beyond the majority of Brazilian incomes. Today, the amount required stands considerably lower at R$1,400. This means that for the first time ever, Brazilian property is within reach of the average family.

This growth in the property market is tremendous news for Housetech Developments.

“As well as boosting the property market, Minha Casa Minha Vida has pushed housing construction to record highs throughout the country, a positive outlook for Housetech Developments” says Waseem Saddique.

Housetech is a specialist construction company. Our primary focus is to build affordable homes, which are not only built to a high specification but are also excellent value.

Housetech Developments

Corporate Head Office
Housetech Developments
Avenida Atlântica 1186, Bloco 1
Office 904
Copacabana
Rio de Janeiro, Brazil
Cep: 22021-000

Jade Coleman
0121 614 3050

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