Construction GDP to grow 8%, says consulting firm
Folha de S. Paulo
After undergoing a 6.3% retraction last year, the GDP of construction should present strong expansion this year. According to the study elaborated by RC Consultores, the sector will register growth of 8% this year and 5% next year. "The maintenance of the effective rate of interest at a relatively low level and the continuous growth of the credit and of the real mass of income will drive the growth", says Fábio Silveira, partner of RC.
From 2004 to 2009, the GDP of construction presented average growth of 3% a year. According to the RC, the increase of the confidence, allied to the increase of the credit offer, led to the heating of the demand for residential real estate. The consulting firm estimates the financing of homes by the SBPE (Brazilian System of Savings and Loans) should double in 2011. Last year, the volume got to R$ 34 billion (US$ 17.3 billion), and next year, it should get to R$ 66.4 billion (US$ 37.9 billion). The good dynamism of the commercial real estate market, particularly outside the São Paulo-Rio axis, and the progress of infrastructure works also heat up the sector, according to Silveira.