Affordable Housing Project, Brazil
The "My House, My Life" program involves a R$34bn (US$15bn) investment from the Brazilian Government to finance the housing for 50m low income individuals in Brazil - the main growth demographic in a country undergoing rapid economic growth and with a current deficit of 7.9m homes. The "My House, My Life" program will provide 30% financing to developers and 70% mortgages to low-income families for projects approved by national CAIXA bank with final house prices of BR$65,000. An experienced construction team are in place with land ringfenced for construction of 400 affordable homes in Natal; an area with 25,000 families on a waiting list and only 2000 homes approved so far. With a construction program of 25 months, an BR$8m equity investment is required over 13 months to finance the project with a clear profit return to investor of BR$5.3m and IRR 30%. Interested parties please contact Willow Rivers asap.