The new rules of Minha Casa, Minha Vida have been in effect since July 2023. These changes proposed in Provisional Measure No. 1162, of 2023, with some adjustments by the FGTS Board of Trustees, are enabling gains on both sides: for those who buy and those who sell properties.
The main changes include an increase in subsidies, a reformulation of the tax brackets, an increase in the property assessment value and a reduction in interest rates, which increase the purchasing power of a large part of the population. For agents in the construction sector, this means more contracts will be signed in 2024.
Given an optimistic scenario for the segment, in this article we will saudi arabia telegram on the changes to the Minha Casa, Minha Vida Program and how the new rules are already impacting the sales of construction and development companies in Brazil.
The goal is to show how these changes are affecting the sector from different points of view: that of the developer, the broker and the Brazilian construction industry in general. Follow along!
Summary
New rules of My Home, My Life
What do the new rules of Minha Casa, Minha Vida mean for the developer?
My Home, My Life as a Business Opportunity
Increased demand for real estate
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New rules of My Home, My Life
new rules of my house my life: image of several miniature houses lined up.
Brazil currently has a housing deficit of around 6 million units. However, this is not a recent problem. The Minha Casa, Minha Vida program was created in 2009 in an attempt to resolve this issue.
Having undergone several changes over the years, including the name change to the Casa Verde e Amarela Program, it has now become a public policy. With the return of Minha Casa, Minha Vida, new rules have emerged in response to new social demands. Among them, I highlight the main changes:
Increase in subsidy: For bands 1 and 2, for example, it went from R$47.5 thousand to up to R$55 thousand;
Reduction in interest rates: for families with a monthly income of up to R$2,000, it went from 4.25% to 4% per year, for the North and Northeast regions, for example;
Increase in the maximum value of the property: in band 3, for example, the maximum value of the property acquired increased from R$264 thousand to up to R$350 thousand.
What do the new rules of Minha Casa, Minha Vida mean for the developer?
new rules of my house my life: image of 4 wooden houses, with icons of people inside.
It is a fact that the new rules of Minha Casa, Minha Vida have already shaken up the segment and the estimate is that this movement will continue. According to the Radar Survey, conducted by Febraban, buying a property is one of the main desires of Brazilians for 2024, leading a list of categories, such as “bank investments” or “renovating the house”.