Rebecca Rocha & Tatiana Bessarabova – The Guardian, 5/8/2014
Rapid urbanisation has created immense challenges for cities in emerging economies that are unable to deal with the influx of people. Close to 1 billion individuals around the world live in slums and other inadequate housing, and this number is projected to triple by 2050 if the problem remains unaddressed. Considering the enormous need and substantial size of the low-income housing market, which is worth more than $300bn globally, very few market-based approaches exist to provide housing solutions for poor people.
Through a collaborative effort, the Business Call to Action (BCtA) and theAspen Network of Development Entrepreneurs (ANDE) Brazil Chapter set out to explore the issue of affordable housing at the base of the pyramid in Brazil, one of the most rapidly urbanising countries in Latin America, where more than 50 million people have inadequate housing. This report is the result of dialogue involving the city government of São Paulo, civil society, real estate developers, entrepreneurs, private companies and investors, to discuss challenges and solutions for low-income communities in Brazil.
The topic of low-income housing in Brazil is hotly contested as the country races to implement its controversial plan to reduce favelas (slums) before the World Cup this year and the Olympics in 2016.