LatAm Real Estate "Another brick in the wall: HIS/HMP CPI proposes endin..."

Research evidence excerpt

LatAm Real Estate "Another brick in the wall: HIS/HMP CPI proposes endin..."

Global Research

19 May 2026ab

LatAm Real Estate Equities

Latin AmericaAnother brick in the wall: HIS/HMP CPI

proposes ending low-income housing in high- Real Estate

end areas; FGTS for debt settlement to TainanAnalystCosta

suspend b-day withdrawal; SP high-end real tainan.costa@ubs.com+55-11-2767 6091

Ana Julia Zerkowskiestate reaches ~R$5bn in 1Q26; LTM IGP-10 at

Associate Analyst

ana-julia.zerkowski@ubs.com+1.5% in May; Vesta F-On closing

+55-11-2767 6303

HIS/HMP CPI report proposes the end of low-income housing in high-end areas

According to the news, the final report of the HIS/HMP CPI in SP estimated at R

$5.1bn the tax waiver between 2014 and 2025 related to the main municipal

incentive granted to developers. To prevent new cases of diversion to higher-

income buyers, the report proposes the preparation of bills jointly with the City Hall

and will be voted this Tuesday (19) at the Chamber. The report includes a list of

suggested changes to current legislation through municipal actions and new bills,

including the prohibition of land swaps, the end of incentives for developments in

high-value real estate areas and the suspension of unit commercialization and

cancellation of permits for companies operating in non-compliance with housing

policies. Lastly, there are more than 926 ongoing investigation processes involving

irregularities in HIS/HMP projects, covering ~171k housing units. - Here

FGTS use for debt settlement will suspend birthday withdrawal temporarily

According to the news, workers who use FGTS funds to pay debts under the new

Desenrola program will have annual birthday withdrawal releases suspended until

the account balance returns to the level prior to the withdrawal.