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06 Jun 2012

Exact and partners launch new project

New bank policies boost real estate

Exact Brazil A/S, in partnership with CRD Engineering and the development company Record, has launched a new residential project, this time in the city of Maceió, state of Alagoas. "Residencial Jardins" will be constructed in one of the fastest developing areas in the region. The structure of the complex will consist of four residential towers of 11 floors with apartments of 55 m² and 66 m², with two or three bedrooms. A major differential is the large entertainment area, totaling more than 4,500 m², which includes adult and child swimming pools, sports courts, gym and playroom. The total built area will comprise 25,000 square meters and 400 parking places will be available for the dwellers. 

Clausens Duarte, director of CDR, highlighted the importance of the partnerships for the new project. "In order to find the right partners we have taken into consideration the market credibility, judicial security and business strength", he says. Residencial Jardins' key target is the Brazilian middle class. The expectation is that the high quality of the project aligned with its affordable price will attract customers from the governmental program Minha Casa Minha Vida.

Real Estate Incentives - longer financing terms and lower interest rates

The launch of this new project has been followed by the announcement of new financing policies from the governmental bank Caixa. The institution has extended the terms for housing finance from 30 to 35 years. In addition to that, the mortgage interest rates has been cut from 9% to 8,85%. Depending on bank-client relations, the interest can reach 7,8% per year.  With the new conditions, the monthly payments are expected to be around 13% lower, allowing customers to buy more expensive properties.

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