Itapema, located on the northern coast of Santa Catarina, has announced a significant initiative to ease housing access by donating land worth R$ 64 million for the construction of 1,100 affordable housing units. This decision comes as the city is recognized for having the second most expensive real estate market in Brazil, with a square meter costing R$ 15,028. The project aims to increase the availability of housing across different areas of Itapema, where the cost of living has been dramatically rising, particularly in the face of increasing demand for residential properties.

The affordable housing initiative will cater to families with monthly incomes ranging from R$ 2,800 to R$ 8,600, aligning with the income brackets of Brazil's 'Minha Casa, Minha Vida' housing program. According to Nicko Silva, the Secretary of Economic Development and Housing, this collaborative project involves substantial investment and partnership with the federal government and financial institutions such as the Caixa Econômica Federal, reflecting a commitment to provide housing solutions for lower-income families in the area.

As a municipality that spans just 58.21 km², Itapema ranks among the smallest in Santa Catarina, heightening the urgency for effective housing solutions. The rise in property prices in the region, specifically in Itapema and nearby Balneário Camboriú, emphasizes the necessity for such public initiatives to ensure that the local population has access to affordable living options amidst the escalating real estate market.