Approximately 1.5 million homes are created in Brazil on an annual basis, yet homebuilders construct less than half that number of housing units and as such this increases the housing deficit by as much as 750,000 per year.
(PRWEB) November 08, 2012
Waseem Saddique comments: “Each community will have an estimated 300 lots and across the 17 communities Housetech Developments hopes to develop a total of 5,100 lots for the purpose of sale over the next 5 years.”
Housetech Developments plans to capitalise on market demand for Brazilian real estate where larger companies have failed to react. With Brazil experiencing large-scale growth in its middle class sector over the past 7 years, this class sector is expected to represent 60% of the population by 2014 and they all need to be housed.
Brazil is currently experiencing a mass housing deficit, with Brazil real estate experts pitching the figures at somewhere between 6 million to 8 million units needed to meet rising demand. Housetech CEO, Waseem Saddique, states: “Approximately 1.5 million homes are created in Brazil on an annual basis, yet homebuilders construct less than half that number of housing units and as such this increases the housing deficit by as much as 750,000 per year."
Whilst 90% of the deficit is made up of the low income classes, lower C class to E class, Housetech Developments has established that there is a significant void to be filled as demand within the sector continues to rise.
Housetech Developments has established itself in the Brazilian real estate market and was formed in 2006.
The company has a senior management team in place that offers a wealth of experience in development projects, from conception through to completion. They specialise in contracting local tradesmen, whether they be engineers, contractors or sales professionals, in order to execute every development plan they are involved in.