Property value of Minha Casa, Minha Vida rises to R$ 350 thousand; subsidy also increases – 06/20/2023 – Market

The FGTS Board of Trustees increased this Tuesday (20) the maximum value of Minha Casa, Minha Vida property to R$ 350,000. Before, this ceiling was R$ 264 thousand.

The Council is responsible for determining how the fund’s resources are applied.

The new version of the program, which was relaunched in February, increased the income limit for families to access housing finance.

Tier 1 is aimed at families with a gross monthly income of up to two minimum wages, equivalent to R$2,640. The rules also establish that band 2 serves families with an income of between R$ 2,640.01 and R$ 4,400; and group 3, families that receive every month from R$ 4,400.01 to R$ 8,000.

The property value ceiling of R$ 350,000 applies to bracket 3.

This measure, according to members of the government, aims to adjust the housing program to the profile of families that started to enter the new version of Minha Casa, Minha Vida, in addition to the need to accommodate the increase in civil construction costs.

President Lula (PT) asked the Ministry of Cities, responsible for the program, to study a way for families with incomes of up to R$ 10,000 or R$ 12,000 a month to access Minha Casa, Minha Vida.

For this, the government began to consider proposing in the coming months to the FGTS Council another increase in the property price ceiling, which could be between R$500,000 and R$600,000, as anticipated by the Sheet.

During the Council meeting this Tuesday, the Ministry of Cities presented data, from 2019, which point to a housing deficit of 5.8 million homes in the country – this is concentrated in the lowest income families.

Therefore, the government was able to approve an increase in the subsidy for beneficiaries of the program in the Council. This could reduce or even eliminate the down payment that a low-income family needs to pay to be able to participate in Minha Casa, Minha Vida.

Since 2017, the subsidy was BRL 47,500, which was equivalent to about 50 minimum wages, in values ​​at the time.

The proposal, which was approved by the Council, readjusts this subsidy to R$55,000 – around 41 times the minimum wage

Another measure was the reduction of interest rates for families in Tier 1. Before, it was 4.25% per year for the North and Northeast regions – and dropped to 4% per year.

In the other regions, the decrease was from 4.5% to 4.25% per year.