The minha casa minha vida social housing programme was set up in Brazil by then President Luiz Inácio Lula da Silva back in 2009 with the aim of tackling the issue of affordable housing for the growing Brazilian middle class. The scheme proved so popular that when current President Dilma Rousseff came into power it was extended, with further government funding being made available. It soon became apparent that government appointed construction companies were unable to complete the work fast enough, so minha casa minha vida Brazil was opened up to private companies who were able to apply for a licence to build houses as part of the project. EcoHouse Brazil are one of the private construction companies who have been on board with the scheme since the very beginning.
To raise funding for the minha casa minha vida private companies such as EcoHouse Brazil turned to foreign investors. This not only meant that the project was speeded up, but that more money was coming into the country from overseas. The fast build times of the minha casa minha vida properties plus the fact that there are still millions of Brazilians on the waiting list make investment in the project through companies such as EcoHouse Brazil exceptionally low risk. A typical investment will be in place for around twelve months, and will generate a return of 15% over that period of time. Investors from areas such as the UK, US and Asia are able to see a high ROI whilst also assisting with the housing deficit throughout Brazil.
By attracting foreign investment rather than pursuing funding through banks or other financial institutions, EcoHouse Brazil are able to assist the government not only in tackling the housing issue but also with the continued growth of the economy as a whole. To date minha casa minha vida has provided three million housing units for eligible families, approximately ten million people overall. The aim of minha casa minha vida is to ensure that by 2020 everyone in Brazil will be able to purchase an affordable family home.