An assortment of methods intended to strengthen the construction segment in Brazil have had an upbeat result on mortgage lending.
Home finance lending so far this year has increased by 340 per cent over levels seen in 2005 to 14.4 billion Reais (£5.76 billion). Caixa Economica Federal, released statistics earlier this month.
A great deal of this has been credited to the My House, My Life project, which is designed to provide affordable housing for the wide-ranging population in Brazil, while declining interest rates have also helped to stabilise the housing market.
This has led to an increase in people buying land and existing buildings to develop property in Brazil,
Overseas investors may also think about investing in Brazil for financial results, as the country is surely going to generate fantastic returns.
Results from earlier this month show that there was a net profit of 577 million Reais (£191.4 million) in the Brazilian construction industry in the second quarter of 2009 as a result of My House, My Life affordable housing scheme. Brazzil magazine online reported.