Brazil has announced a major programme to extend the supply of affordable housing.
The ‘Minha Casa, Minha Vida’ (My House, My Life) programme involves building 610,000 new housing units.
“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 sector's potential to rekindle the economy was also pointed out 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.
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 subsidies.
“The final project wet 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.