Brazil Plans for 1 Million New Homes

Brazil’s president, Luiz Inacio Lula da Silva, recently announced that his government plans to construct one million new homes by 2010 to help get the country’s economy back on track and to help homeowners.

 

“The construction industry is extremely important for generating jobs, and providing dynamism to the economy and steel industry, above all for the least skilled workers in the country," said the president as he spoke to reporters in Brasilia last week.

 

President Lula has appointed Cabinet Chief Dilma Rousseff to lead to effort to get the new houses built quickly. The average time it currently takes to build a property in Brazil is 3 months, but the government wants to reduce that to 11 months for this project.

 

Brazil needs to construct at least seven million new homes over the next 10-20 years to meet demand for low-wage earning families, according to Jose Carlos Martins, vice president of the Brazilian Construction Industry Chamber. Additionally, by increasing money to the construction industry, the government feels it can help to address the impact of the global recession.

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