Minha Casa, Minha Vida Gives Homes To Brazilian Families

The popular social housing program giving homes to millions of Brazilians families and strong to its anticipating investors is back!

Social Housing Developments by EcoHouse Group

When the world thinks of Brazil, beaches, football and samba come to mind. Unfortunately however, so do the country’s notorious favelas. Twelve million people live in these shantytowns, but that is only half the story.

What people don’t know about the favelas is that, with Brazil’s recent economic changes, most people living in them now form part of the emerging middle class. These people now tend to have steady jobs and would be able to buy property if somebody was willing to give them a mortgage.

In 2009 the government decided to step in with Minha Casa Minha Vida. The program provides subsidized mortgages for Brazilians on less than ten times the national minimum salary of £183 per month, with the most generous subsidies going to those earning less than three times the minimum wage. Minha Casa Minha Vida buyers have access to a special interest rate of 5%, which is less than half the Brazilian base rate.

In its first phase (2009-11) Minha Casa Minha Vida saw one million homes created with the second phase (2011-14) aiming to complete 2.75 million homes by the end of the year. The goal for phase 3 (2015-2019) is to construct a further three million homes.

In order to construct the homes, the Brazilian government has turned to the private sector and this is where EcoHouse Group comes in. Where most developers choose to construct the projects through slow and bureaucratic bank loans, EcoHouse Group goes to investors for funding.

EcoHouse Group offers a £21,000 investment with returns upwards of 15% a year after investment. To provide an extra layer of security the company also uses an escrow facility registered with a leading UK bank, which ensures that investors’ money cannot be drawn until proof of purchase for materials is provided and signed by a professional lawyer with indemnity insurance.

For its latest project, Monte Alegre, EcoHouse Group has chosen Porto Alegre’s Alvorada suburb as the location for its 500 high-quality social housing units. This reflects the strong economy of Porto Alegre, in which jobs in services, industry and agriculture are readily available, and the transformation of Alvorada, traditionally one of the poorest areas of the city but now a hub of middle class commuters.

Porto Alegre – Best Location, Best Investment Opportunities

EcoHouseGroup announced the launch of its latest project, Monte Alegre, within the city of Porto Alegre, in Rio Grande do Sul. Today we look at why Brazil’s southernmost state capital and EcoHouse are such a perfect fit.

Ask any Brazilian where in the country they would like to live and you would expect to hear Rio de Janeiro or maybe Sao Paulo. However, mention Porto Alegre and Brazilians tend to say they would jump at the chance of a more organized, safe and arguably European style of living provided by the country’s South. Coincidentally, Porto Alegre recently overtook Natal, where EcoHouse’s previous developments have been located, as the safest state capital in Brazil.

Porto Alegre also has one of the best education systems in Brazil, with two of the top universities in South America, 20% of family leaders holding a university degree, and high quality public services and infrastructure.

Within Brazil, Porto Alegre is one of the few cities with strong primary, secondary and tertiary economic sectors and has become a leading destination for skilled Brazilian workers seeking jobs. With an abundance of positions in agriculture, industry and services, Porto Alegrenses already have steady incomes and only require suitable housing. EcoHouse Group’s Monte Alegre development in the suburb of Alvoradais located in close proximity to both Porto Alegre’s city centre and the large General Motors and Pirelli factories to the North East of the city in Gravatai, so an easy commute for the locals no matter where they work.

Throw into the equation the boost to the city by the recent World Cup and it is not difficult to see why EcoHouse Group sees Porto Alegre as the ideal location for its latest Minha Casa, Minha Vida project.