During last few years, the Brazilian real estate market has been going through a surge. It is growing at decent rate that's the reason it is attracting investments at a good rate. With the launch of government-sponsored social housing program, the very nature of real estate in Brazil seems to have transformed totally. This development will help a great deal in the evolution of real estate market in Brazil.
Minha Casa Minha Vida programme has had wide-ranging implication for the Brazilian market. As a result of huge investments in real estate, the construction industry in Brazil was booming for quite some time. It is no doubt changing the face of Brazil. Also, government has announced a mega real estate project of building 3 million homes by 2014. It has fundamentally affected the scale of real estate in Brazil. Once Brazilian real estate was a small scale industry confined to metro cities but now with huge infusion of investments and mega governmental projects, the real industry is in overdrive.
Not long ago, there was shortage of at least 7 million homes in Brazil. Various governments undertook a numerous housing projects but they were miniscule when compared to the deficit. It was difficult for a common man to buy property due to high prices and unavailability of land. You needed eight times the average wage to own a decent real estate in Brazil. That is no more the case. The gigantic social housing project has changed the Brazilian real estate market in more ways than one. Now an average Brazilian family would need three times of their minimum wage to own a decent house. Now many families can afford to buy real estate for sale in Brazil.
Though the social housing project has not reached its target of building one million houses by 2010, but Brazilian real estate has benefitted greatly from the project. People are benefitting from lowered real estate prices. It is now much more easier owning real estate for sale in Brazil. Moreover, there is continuity even with the change in government. New government of President Dilma Rousseff is committed as much to social housing project as was the previous government of President Lula. The need to build millions of quality houses for Brazilian was brought home by recent floods in the Rio de Janeiro district. The dynamism in Brazilian real estate market promises good returns on investment in real estate.
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