The Brazilian government plans to build two million low-income housing units by 2026 through the “My House, My Life” program, announced the Ministries of Cities and Finance in an ordinance published today, Thursday.
The housing will be financed with resources from the general State budget and the Time of Service Guarantee Fund, which collects corporate contributions such as unemployment insurance.
“The target will be distributed according to the housing needs of the country’s geographic regions and other available official indicators, admitting its reallocation according to qualified demand,” the ordinance added.
The return of the “My House, My Life” program was announced on February 14 by Brazilian President Luiz Inácio Lula da Silva.
The program targets families living in urban areas with monthly incomes of R$8,000 (about US$1,630) and families in rural areas with annual revenues of up to R$96,000 (about US$19,550).
The subsidy ceiling will be R$170,000 (about US$34,625) for new properties in urban areas and R$75,000 (approximately US$15,275) in rural areas.