Latam Real Estate - Today‘s News

Research evidence excerpt

Latam Real Estate - Today‘s News

J P M O R G A N Latin America Equity Research

29 June 2026

Latam Real Estate - Today's News

FGTS Private Payroll Rates & New Withdrawal, IGTI on

Growth, Northeast Retail Views, US REITs Valuation

Homebuilders & Brokers Latin American Cement &

Construction / Real Estate

AC• FGTS-backed payroll loans rates capped at 1.99% per month – Marcelo Motta

Globo.com. Brazil regulated the use of FGTS (severance fund for private- (55-11) 4950-6712

sector workers) as collateral for CLT payroll-deducted loans after 15 months, marcelo.g.motta@jpmorgan.com

allowing workers to pledge up to 10% of their FGTS balance, up to 100% of Banco J.P. Morgan S.A.

the severance penalty (equivalent to 40% of deposits), and 35% of termination Jonathan S. Koutras

pay, with payroll deductions capped at 35% of net income. The interest rate is (55-11) 4950-3549

capped at 1.99% per month. In April the average CLT payroll rate was 3.79% jonathan.s.koutras@jpmchase.com

Banco J.P. Morgan S.A.

per month. Via the Digital Work Card channel, ~100 institutions can bid in a

Adrian E Huerta reverse auction, and the program has extended R$130bn to 10mn workers over

(52-81) 8152-8720

15 months (R$110bn in new contracts). adrian.huerta@jpmorgan.com

• Lower House Committee advances bill allowing FGTS withdrawals to buy J.P.MorganMorganGrupoCasaFinancierode Bolsa, S.A. de C.V., J.P.

firearms and ammunition – Agência Câmara de Notícias. Brazil’s

Felipe Barragan Sanchez

Chamber of Deputies Public Security Committee approved Bill PL 3824/25 to

(52-55) 5283-1666

allow workers with an active FGTS (severance fund for private-sector felipe.barragan@jpmorgan.com

workers) account to withdraw funds to purchase firearms, ammunition, and J.P. Morgan Casa de Bolsa, S.A. de C.V., J.P.