Marcelo Cardinale Branco, Secretary of Urban Development and Housing, says that the state’s help is fundamental for people to access the formal housing credit market
Real Estate Credit Letters (CCI) of the Casa Paulista program guarantee access to the home key to families who would not be able to access the financing. The Secretariat of Urban Development and Housing (SDUH) offers a subsidy of R $ 10,000 to R $ 16,000 to families of up to three minimum wages that do not have property in their own name. Still unpublished survey conducted by the folder indicates that the average income of the program served by the current management (since 2023) is R $ 2,847.57, which is equivalent to 1.87 minimum wage. The average family income of the units sold without the state subsidy is R $ 5,227.48, equivalent to 3.44 minimum wages.
The Secretary of Urban Development and Housing, Marcelo Cardinale Branco, explains that the state’s help is fundamental for families to access the formal housing credit market. “When the state landed, in a lost depth, a value that sets the entry of the financing, for example, families are able to afford the monthly installments. Even because most of the time, they spend more than that in rent.”
The survey was made in seventeen cities from various regions of the state. In some municipalities, the middle income abyss in both purchase situations is even more extended. In Itaquaquecetuba and Sorocaba, the average family income of real estate buyers exceed R $ 7,000, reaching close to five minimum wages.
The model is even defended by the class associations of builders and developers, such as Secovi-SP and Sinduscon, which suggest the São Paulo model of contribution to serve as a model to policies adopted in other states or municipalities, which has already been done by the governments of Pernambuco, Rio de Janeiro, Paraná, among others.
The SDUH holder analyzes the effects of selling the market with and without the government check. “The numbers show that the subsidy guarantees care to those who need it most. Popular unit built and bought by those who have the most resources results in real estate speculation, because that person will rent to those who need to be higher than the installments of financing. Not illegitimate. But the state has to act to help those who do not have, at this time, conditions to overcome the housing deficit on their own.”
The management plan of management was designed to leverage the number of families served with their own home, proposing the construction of 200,000 units in four years, an unprecedented number in a period of government in São Paulo. In this management alone, 73,700 credit letters were contributed, representing 45% more than in the entire history of the program (2012, when it was created until 2022). “The subsidies policy is fundamental for us to be able to promote housing care as much as possible. Thus, we can gain scale and ensure decent housing for more families,” adds Secretary Marcelo Branco.
About the Charter Real Estate Credit (CCI)
The CCI modality grants subsidies to families with monthly income of up to three minimum wages for the purchase of real estate in projects authorized by the Secretariat of Urban Development and Housing (SDUH), as part of Caixa-FGTS financing.
The values range from R $ 10,000 to R $ 16,000, according to the location of the property, and can be added to federal benefits and the use of FGTS, when available, to reduce the amount of benefits and adjust them to the payment capacity of families. This amount provided by state management encourages the purchase of real estate, allowing lower income families to access the real estate credit market. Currently, the average family income of those contemplated by the program is two minimum wages.
The demand is open to all interested parties who meet the program’s criteria and are qualified by Caixa Econômica Federal, responsible for granting housing financing.
By the CCI modality, the state government seeks to meet the housing demands of the municipalities. Since the beginning of the current management, the program has delivered 36.6 thousand houses with CCI subsidies, with a contribution of R $ 446.3 million. These investments had an impact of approximately $ 20 billion. In addition, there are another 61,500 houses in production, with a contribution of R $ 775.3 million.
