In recent times, the Brazilian governments of both President Dilma Roussef and her predecessor the popular ‘Lula’ have taken great pride in the development of their flagship affordable homes scheme. The ‘Minha Casa Minha Vida’ programme has proved (and still proves) to be a life-enhancing innovation for millions of people in this, the leading BRIC nation. This is vitally linked to the very recent (historically) availability for the first time of mortgages for ordinary Brazilians of modest means.
More generally, new figures announced this week show that 2011 was a record year for financial support for the building and/or buying of property in Brazil. Loans attained their highest-ever levels, just a shade under $R 80 Billion. This was an increase of well over forty percent over the 2010 figure. And as for the number of actual units funded, they approached half a million, a massive increase of 17% over the year 2010.
These statistics were released on the 26th of this month by ‘ABECIP’- Associacao Brasileira Das Entidades De Credito Imobiliario e Poupanca. This is the Sao-Paolo based Brazilian Association of Savings and Credit. The Spokesman on this occasion was Mr. Octavian Lazar, the new President of the organisation. He explained that his group expects real-estate credit levels to remain high this year but lessening slightly compared to last. Even so, Lazar expected the rise to be impressive. He went on to comment that continued growth should be above all else sustainable in the current economic climate.
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