The Board of Trustees of the Time in Service Guarantee Fund (FGTS), on Tuesday (11/11), unanimously approved the federal government’s proposal to increase the maximum value of properties financed by low-income families in the Minha Casa, Minha Vida (MCMV) program.
This change directly benefits Bands 1 and 2 of the programme, which target households with a gross income of up to R$4,700 per month. The aim is to monitor the increase in civil construction costs and expand access to affordable housing.
New roofs according to the type of city
With the new rule, the real estate ceiling rises from R$264,000 to R$275,000, depending on the size of the municipality.
See what the values look like:
- Major capitals (More than 750 thousand people): from 264 thousand Brazilian reals to 275 thousand Brazilian reals;
- Medium-sized capitals (Between 100 thousand and 300 thousand people): from 225 thousand Brazilian reals to 240 thousand Brazilian reals;
- Regional capitals: From 220 thousand Brazilian reals to 235 thousand Brazilian reals.
According to the Ministry of Cities, the amendment takes into account the increase in building materials and aims to give more impetus to the housing sector, in addition to allowing more families to fall within the scope of the program’s support.
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The decision comes within a set of measures to stimulate public housing, but it differs from the measures targeting the middle class.
In October, the government actually raised the ceiling on properties financed through the Housing Finance System (SFH), from R$1.5 million to R$2.25 million, a measure targeting families with higher incomes and broader credit.
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