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HomeNewsCaribbean NewsBrazil's government sets target of building two million affordable homes by 2026

Brazil’s government sets target of building two million affordable homes by 2026

– This decision will have a positive impact on the country’s economy⁠

BRAZIL – The new rules of the Minha Casa, Minha Vida (My Home, My Life) programme, which reduce interest rates and increase subsidies for property purchases, will contribute to the goal of building two million housing units by 2026, according to Urban Affairs Minister Jader Filho.

The programme changes were authorised on 13 July by president Luiz Inacio Lula da Silva. According to the minister, the resumption of housing construction under the Minha Casa, Minha Vida programme will have a positive impact on the country’s economy and provide jobs and income for the population, as reported by Brasil 247, a partner of TV BRICS.

“We intend to create more than one million direct and indirect jobs in four years. We believe that Minha Casa, Minha Vida will be of great help in the recovery of the Brazilian economy,” Jader Filho said in an interview with the Brasil em Pauta programme broadcast by the Gov channel.

The minister explained that the new rules of the programme are the result of discussions with town halls, civil society organisations and the private sector, with the aim of improving Minha Casa, Minha Vida and adapting it to the realities of each region. Speaking about the changes, Jader Filho said that properties will only be built on plots located near public facilities such as schools, kindergartens, health centres and shops to make life easier for citizens.

The increase in the down payment discount on the purchase of Minha Casa, Minha Vida properties will be fundamental in facilitating the purchase of homes for residents of the northern and northeastern regions, the minister said. The value of the discount increased from R$47.5 thousand (US$10,048) to R$55 thousand (US$11,634).

Expansion of the programme (to include the middle class), is being discussed in the federal government. Currently, the Minha Casa, Minha Vida programme is designed for families with a monthly income of up to eight thousand reais (about US$1,692). “We are exploring the possibility of extending this limit further and exceeding R$8,000. But this issue is still under study, we are in dialogue with the relevant departments,” said the urban affairs minister.

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