Minha Casa Minha Vida Leads Brazilian Real Estate | Obelisk International
Obelisk International News - Social housing investment led the Brazilian property market last year. Demand for construction materials and mortgages in Brazil reached record levels in 2011 and analysts believe that this year will follow suit.
According to a recent report from the Brazilian Association for the Construction Materials Industry (ABRAMAT), high investment in Brazil and the rise in household expenditure during 2010 led to the highest ever sales of building materials. Last year, demand for materials increased by 15.7% and prices rose by 16.3%.
Social Housing at the Forefront
Minha Casa Minha Vida, the government programme and the largest investment in Brazilian real estate, started in earnest last year and was a major contributor to the boom in construction in Brazil. In 2010, the first phase of the programme was completed and funding was provided for 1.15 million low-cost housing units with total credit levels of R$83.4 billion.
With numbers like these, it’s hardly surprising that social housing was responsible for a sizeable part of these hikes in demand and price levels. The Brazilian government is firmly committed to the Minha Casa Minha Vida programme, which will build 2 million homes by the end of 2014. Obelisk International therefore expects further pressure on demand for building materials this year.
Record Credit Levels for Real Estate
Brazil is currently breaking records almost monthly when it comes to mortgages. Last year’s figures were the highest ever and with a strong first quarter from January to March, there’s every sign that 2011 will set another record.
The Association of Brazilian Mortgages estimates that loans for buyers of Brazilian property will reach R$84 billion this year. Together with the mortgages provided by the government for Minha Casa Minha Vida buyers, the total amount loaned for purchases of homes in Brazil is expected to run to R$108 billion, almost 30% more than in 2010.
For Obelisk International, 2011 will undoubtedly be a record year for all aspects associated with the real estate market in Brazil. The drivers behind Brazilian property – increasing wages, rising population and a chronic shortage of housing – are so strong, we can only expect the market to get stronger.
With this in mind, Obelisk International forecasts record levels of foreign investment in Brazil, particularly in real estate this year as more and more investors appreciate the true potential behind the Brazil property market.
Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
Follow us on Twitter (Obelisk International) and LinkedIn (Obelisk International).
According to a recent report from the Brazilian Association for the Construction Materials Industry (ABRAMAT), high investment in Brazil and the rise in household expenditure during 2010 led to the highest ever sales of building materials. Last year, demand for materials increased by 15.7% and prices rose by 16.3%.
Social Housing at the Forefront
Minha Casa Minha Vida, the government programme and the largest investment in Brazilian real estate, started in earnest last year and was a major contributor to the boom in construction in Brazil. In 2010, the first phase of the programme was completed and funding was provided for 1.15 million low-cost housing units with total credit levels of R$83.4 billion.
With numbers like these, it’s hardly surprising that social housing was responsible for a sizeable part of these hikes in demand and price levels. The Brazilian government is firmly committed to the Minha Casa Minha Vida programme, which will build 2 million homes by the end of 2014. Obelisk International therefore expects further pressure on demand for building materials this year.
Record Credit Levels for Real Estate
Brazil is currently breaking records almost monthly when it comes to mortgages. Last year’s figures were the highest ever and with a strong first quarter from January to March, there’s every sign that 2011 will set another record.
The Association of Brazilian Mortgages estimates that loans for buyers of Brazilian property will reach R$84 billion this year. Together with the mortgages provided by the government for Minha Casa Minha Vida buyers, the total amount loaned for purchases of homes in Brazil is expected to run to R$108 billion, almost 30% more than in 2010.
For Obelisk International, 2011 will undoubtedly be a record year for all aspects associated with the real estate market in Brazil. The drivers behind Brazilian property – increasing wages, rising population and a chronic shortage of housing – are so strong, we can only expect the market to get stronger.
With this in mind, Obelisk International forecasts record levels of foreign investment in Brazil, particularly in real estate this year as more and more investors appreciate the true potential behind the Brazil property market.
Contact Obelisk International on 0034 952 820 319. Via email: info@obeliskinternational.com or visit our website: www.obeliskinternational.com.
Follow us on Twitter (Obelisk International) and LinkedIn (Obelisk International).
Labels: Brazil, Brazil property investment, Brazilian real estate, investing in Brazil, investment in Brazil, investments, MCMV, Minha Casa Minha Vida, Obelisk International, property investment
posted by Alison Kane at 4:15 pm
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