ITBI Reduction: A Relief for Property Buyers in the Federal District

Buying a property is one of the biggest investments a person can make in their life. In the Federal District, this reality is even more challenging, with the high costs involved in the process of buying and selling properties. However, a recent change in legislation could bring significant relief to property buyers in the region.

Approval of the ITBI Reduction

On Tuesday (3), the Legislative Assembly of the Federal District approved the reduction of the Tax on the Transfer of Real Estate and Rights Related to It (ITBI) from 3% to 2%. This measure represents an important step towards making the local real estate market more accessible and attractive to investors.

The bill now awaits approval by Governor Ibaneis Rocha, who will analyze and decide on its final approval. If approved, the new 2% tax rate will come into effect for the acquisition of used properties in the Federal District.

The Impact of ITBI Reduction

The reduction of ITBI from 3% to 2% can bring several benefits to property buyers in the Federal District. See some of the main impacts of this measure:

Greater Accessibility to the Real Estate Market

With the reduction of ITBI, the costs involved in purchasing a property will be reduced, making it more accessible to a greater number of people. This may encourage new investors to enter the market, increasing demand and, consequently, the supply of available properties.

Greater Purchasing Power

The reduction in ITBI means that buyers will have greater purchasing power, being able to invest more resources directly in the acquisition of the property, instead of allocating them to paying taxes. This can translate into better negotiation opportunities and even the possibility of acquiring higher-value properties.

Stimulating the Real Estate Market

The reduction of ITBI can boost the local real estate market, encouraging the purchase and sale of properties. This can generate a cascade effect, with the creation of new jobs, the increase in the collection of other taxes and the strengthening of the economy of the Federal District.

Greater Competitiveness

With the reduction of ITBI, the Federal District becomes more competitive in relation to other regions of the country, attracting investors and buyers interested in purchasing properties in the federal capital. This increased competitiveness can boost real estate development and bring benefits to the entire community.

New Properties and the First Transfer of Ownership

In addition to reducing the ITBI from 3% to 2% in the case of used properties, the proposal approved by parliamentarians also establishes an even lower rate for new properties and for the first transfer of ownership: 1%.

This measure aims to encourage the acquisition of newly built properties, stimulating the construction sector and the supply of new housing units in the Federal District. This can be especially beneficial for buyers looking to purchase a property for the first time.

Final Considerations

The reduction of the ITBI from 3% to 2% in the Federal District represents an important achievement for property buyers in the region. This measure has the potential to make the local real estate market more accessible, attractive and competitive, benefiting both investors and the general population.

As the bill is sanctioned by Governor Ibaneis Rocha, it is expected that this change in legislation will boost real estate development in the Federal District, generating jobs, increasing tax collection and strengthening the economy of the federal capital.

For property buyers, this ITBI reduction means significant relief in the costs involved in purchasing a property, allowing them to invest more resources directly in the purchase of the property. This is a unique opportunity for those who want to enter the real estate market or expand their investments in the region.

Therefore, the approval of the ITBI reduction in the Federal District is extremely positive news and could be an important step towards making the dream of owning a home more accessible to an increasing number of people.