By Lisa Flueckiger, Contributing Reporter
RIO DE JANEIRO, BRAZIL – After a protracted debate, Brazil’s National Monetary Council has finally approved an increase in the value of homes that workers can use their FGTS (a government-led unemployment insurance fund) to purchase. In Rio, residents can now use the money to help buy a home worth up to R$750,000, reflecting the surge in property values in the city.
The figure also applies in the states of São Paulo, Minas Gerais and Brasília, whilst across the rest of the country the limit - applicable from October 1, 2013 . . .