Party Time for Affordable Housing in Brazil
As word gets out about the Minha Casa Minha Vida phenomenon in Brazil, more of the world media are talking about it. The latest to report on Brazil’s affordable housing scheme is the BBC who broadcast a series of mini-documentaries from Brazil on the News at 10.
The report titled ‘Will Brazil’s economy keep growing?’ looks at the shortfall of property in Brazil. It focuses on the booming economy in Brazil and how this has boosted the middle class – according to the BBC, the increase of the middle class is “the cornerstone of President Lula’s administration”.
Like most things in Brazil, the scale of Minha Casa Minha Vida is massive – this affordable housing programme aims to build 3 million low-cost homes by the end of 2014, reducing the housing shortage among the lower classes in Brazil by over 40%. The financial and social implications are huge. With a budget of R$105.7 billion, Minha Casa Minha Vida offers something for all participants – not only for the new homeowners but also for developers and investors. According to BBC reporter, Matt Frei, “While the rest of the world may be regretting its property bubble and slashing handouts, in Brazil the party has only just started.”
Featuring footage from a packed property exhibition publicising Minha Casa Minha Vida, the report shows happy Brazilians able to buy a home through the scheme. Minha Casa Minha Vida is not only reducing Brazil’s housing shortage; it’s also giving millions of Brazilians a chance to leave poverty behind. One beaming woman whose application for one of the three million homes had been successful, said, “I’m still poor, but I’ll get to the middle class”.
The report then moves to the economy in Brazil. “Brazil has always had the beaches; now it has the numbers,” says Matt Frei before he goes on to list Brazil’s ‘numbers’. These include a growing economy, the third largest airline industry in the world and over half its cars running on biofuel. And, as he adds, “that’s before you even get to the World Cup and Olympics”. The report finds that Brazil is “a power to be reckoned with” and although Brazil may not have the same economic standing as China, it does have democracy.
The BBC also looks at the negative side to property in Brazil – the infamous favelas, home to thousands of families. According to the report, over 1 million people live in slums in Rio de Janeiro alone. Matt Frei describes these as a “warren of violence, drugs and unemployment” and the pictures speak for themselves.
The prime objective behind Minha Casa Minha Vida is to offer an affordable alternative to the favelas. The bulk of the new low-cost homes are destined for Brazilians at the lowest end of the earnings scale – some 1.6 million properties will be owned by families whose salaries fall between zero and three times the monthly minimum wage. As the BBC points out, “if it really wants to succeed, Brazil must reinvent whole neighbourhoods from scratch”. The huge success and popularity of the Minha Casa Minha Vida scheme suggest that Brazil has found a way of doing this and Obelisk International is happy to be associated with the scheme.
For more information on investing and to find out about Obelisk International's latest projects, contact us on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
The report titled ‘Will Brazil’s economy keep growing?’ looks at the shortfall of property in Brazil. It focuses on the booming economy in Brazil and how this has boosted the middle class – according to the BBC, the increase of the middle class is “the cornerstone of President Lula’s administration”.
Like most things in Brazil, the scale of Minha Casa Minha Vida is massive – this affordable housing programme aims to build 3 million low-cost homes by the end of 2014, reducing the housing shortage among the lower classes in Brazil by over 40%. The financial and social implications are huge. With a budget of R$105.7 billion, Minha Casa Minha Vida offers something for all participants – not only for the new homeowners but also for developers and investors. According to BBC reporter, Matt Frei, “While the rest of the world may be regretting its property bubble and slashing handouts, in Brazil the party has only just started.”
Featuring footage from a packed property exhibition publicising Minha Casa Minha Vida, the report shows happy Brazilians able to buy a home through the scheme. Minha Casa Minha Vida is not only reducing Brazil’s housing shortage; it’s also giving millions of Brazilians a chance to leave poverty behind. One beaming woman whose application for one of the three million homes had been successful, said, “I’m still poor, but I’ll get to the middle class”.
The report then moves to the economy in Brazil. “Brazil has always had the beaches; now it has the numbers,” says Matt Frei before he goes on to list Brazil’s ‘numbers’. These include a growing economy, the third largest airline industry in the world and over half its cars running on biofuel. And, as he adds, “that’s before you even get to the World Cup and Olympics”. The report finds that Brazil is “a power to be reckoned with” and although Brazil may not have the same economic standing as China, it does have democracy.
The BBC also looks at the negative side to property in Brazil – the infamous favelas, home to thousands of families. According to the report, over 1 million people live in slums in Rio de Janeiro alone. Matt Frei describes these as a “warren of violence, drugs and unemployment” and the pictures speak for themselves.
The prime objective behind Minha Casa Minha Vida is to offer an affordable alternative to the favelas. The bulk of the new low-cost homes are destined for Brazilians at the lowest end of the earnings scale – some 1.6 million properties will be owned by families whose salaries fall between zero and three times the monthly minimum wage. As the BBC points out, “if it really wants to succeed, Brazil must reinvent whole neighbourhoods from scratch”. The huge success and popularity of the Minha Casa Minha Vida scheme suggest that Brazil has found a way of doing this and Obelisk International is happy to be associated with the scheme.
For more information on investing and to find out about Obelisk International's latest projects, contact us on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
Labels: BBC, Brazil, Brazil investment, Brazilian real estate, investment, MCMV, Minha Casa Minha Vida, property
posted by Alison Kane at 12:53 pm
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