After President Dilma Rousseff’s government announced that it was increasing funding for the landmark Minha Casa Minha Vida (My House My Life) program by R$1 billion in 2014, Property giant EcoHouse Group, the Anglo-Brazilian company who have been involved in the programme since its humble beginnings back in 2009 have also hinted that then will be expanding their popular minha casa minha vida development to the South East, No official statement has been made but sources claim that EcoHouse have been stockpiling materials and scouting various sites in the South East of the country.
The South East is a very popular region of Brazil Located on the Atlantic coast. By any standard this part of the country is extremely important, responsible as it is for well over half the GDP of the entire nation. Not only is the region an economic powerhouse it is also by far the most populous of Brazil’s regions and includes the enormous metropolitan city areas of São Paulo (11.2 million) and Rio de Janeiro (6.2 million).
In addition Belo Horizonte (2.4 million but twice as much in its wider metropolitan area ) is very important and so are Guarulhos, Campinos, São Gonçalo and Duque de Caxias (which all have over a million). As well as these there are over a dozen other places in the region with more than a quarter of a million inhabitants. Four of Brazil’s states make up the region. These are Sao Paolo (of course) as well as Rio de Janeiro, Espirito Santo and Minas Gerais. These all have great significance but by far the most influential in Sao Paolo.
This state contains the city of the same name which is not only the largest in Brazil but in the whole of the southern hemisphere too. The wider state of SP provides over one third of the GDP of the whole of Brazil. This amounts to over 500 Billion US dollars per year. Every year the population of both the city and state swell even more as thousands of immigrants from all over the country ( and abroad) flood here to seekm life and work opportunities they think they won’t find elsewhere.
Rio de Janeiro (also the name of both a State and its capital city) is smaller than Sao Paolo. At 6.2 million the metro area is just a bit more than half as populous as its larger neighbour. Despite this it is more widely known than SP and is a particular favourite with tourists from both overseas and domestic markets. Very few people in Europe or North America haven’t heard, for instance, of Copacabana Beach, Sugar Loaf Mountain and its cable car system, the statue of Christ the Redeemer or indeed the famous annual Carnival.
The city and area of Belo Horizonte (in English ‘Beautiful Horizon’) is the capital of Minas Gerais state. In its wider conurbation area it takes in nearly five point two million people. This makes it (after Sao Paolo and Rio) the third largest metro area in the country.The whole south eastern region remains the focus of the national economy, despite the rapid growth of the north east and the Brasilia capital area.
As well as helping reduce the massive Brazilian housing deficit the Minha Casa Minha Vida programme is very popular with property investors due to the fact that developers such as EcoHouse choose to raise funds through investment rather than navigating the red tape laden Brazilian banking system, this allows the developer to build very quickly and as there is a massive waiting list for social housing and the exit price of these homes is fixed by the Brazilian government, the investor can see a return – usually between 15% and 20% ) within 12 short months.