Source: Pexels Author: Redaction According to Knight Frank ’s latest report on the global real estate market, received in a statement by SUPERCASA Notícias newsroom, the average house price continued to rise in the last four months of 2023 . The Global House Price Index now released by London-based real estate and offices on five continents, a Portuguese partner company Quintela and Penalva, reveals that prices are rising at a faster pace since the end of 2022. The report also indicates an average annual growth of 3.9% taking into account the main markets analyzed. Of the 56 markets monitored, only 18 saw prices decrease in the fourth quarter, a decrease from the previous quarter, when 21 markets showed the same trend. The main driver of rising prices has been product shortages in many markets. This is the case in the US, where rising mortgage rates have discouraged potential real estate sellers as they risk having to pay a significantly higher mortgage rate when buying their next home. In addition, this shortage of available real estate was intensified by a slowdown in the delivery of new housing as a result of supply disruptions affecting the construction sector in several of the major markets studied over the past four years. Portugal is in 18th place in the ranking of the fastest growing countries (5.3% to 12 months; 1.2% to 6 months) and with a slight decrease in the last quarter (0.3%), and according to Francisco Quintela, founding partner of Quintela and Penalva, Portugal continues to perform well and attract investors from all over the world . And he adds, in the note to which SUPERCASA Notícias had access: the prices that grow the most are, in fact, in the noble and central areas of the city of Lisbon, regarding the residential market, and the trend should continue throughout 2024. The demand for our country remains solid and Portugal is an alternative for many countries living moments of uncertainty. Follow more topics like this in SUPERCASA Notícias
Source: Freepik Author: Redaction Youth housing credit is a funding support provided by financial institutions to help young people aged 18-35 to buy a home. It is a very simple concept to understand, because it is a mortgage similar to traditional with small differences and special conditions, which can mean benefits for young people who want to take the step of buying a house. Moving forward with the purchase of a property today can mean huge charges that not all portfolios can handle, which is why there is a specific modality for the younger ones. How does youth housing credit work? It is important to keep in mind that if you are planning to proceed with a young housing loan application, take into account that there are criteria that you must meet to be eligible for this loan, namely the following. Initial input To begin with, before proceeding with an application with the bank, you should evaluate your available capital, because the higher the amount you are willing to give for the entrance to the house, the greater the probability of being assigned a financing. To get an approval, you must have up to 10% of the total sale value of the property, however, it is advisable that if you can and have this value, pay more to increase credit security. Effort rate Your effort rate can’t be high. This means that your home loan can not exceed 40% of the income you earn every month, keeping a balance of your accounts and monthly budget. This is a calculation that the bank will do for you, assessing your financial capacity to be able to ensure the payment of the credit installments. Safe work This factor has an influence on your financial stability, because with a safe job and a stable and regularized professional situation, you will have a better chance of seeing your credit application be approved. If you are effective is a point in favor, getting more confidence from the financial institution. Financial conditions In addition to a stable job, you must gather stable financial conditions, demonstrating that you do not have many charges to your responsibility, or that those you have are compatible with your request for funding. Guarantor A guarantor will intervene on your behalf, assuming the payment of the instalments, if you do not fulfill this obligation, and some banks exist this figure in order to ensure that the debt will be paid. Mixed, variable or fixed rate? How to choose Once you ask for your home loan and all eligibility criteria are assessed, you will be asked to select the type of rate you want for your loan. There are three: the mixed rate, the variable rate and the fixed rate. Mixed rate This rate works in two ways, and in the initial period of your credit, which may be 5, 10 or 15 years, you will have the fixed rate in force, and then the variable rate will be applied. It is then a type of tax that is intended, at an early stage, to help the borrower to organize himself financially during the early years. Variable rate The variable rate is calculated by the sum of the spread and the Euribor index, which will vary over the credit period. Therefore, the variable rate will be paid as the principal interest rates (Euribor) rise or fall, never knowing exactly what amount will pay in the future, as it is variable depending on the Euribor. Fixed Rate This is the safest rate for those who want to always pay the same amount of the instalment, being a rate that remains the same throughout the term of the loan. It usually has a higher value than the variable rate, however, it offers more security to the borrower, who will always know exactly when money has to be available to ensure the payment of the benefit. Concepts to retain Euribor (European Interbank Offered Rate): this is the Euribor interest rate, resulting from the average interest rates applied in the main banks and credit institutions of the euro area in the interbank market. It is the benchmark of the European market. Loan-to-value (LTV): this is the ratio that corresponds to the percentage that the bank can request in relation to the value of the property. Thus, a percentage that determines the value that the bank can lend, against the value of the property, and since no bank lends the entire value of the house, the LTV will vary according to whether it is a loan of greater or lesser risk to the financial institution. Effort rate: this is the rate that will represent the percentage of the total income of the borrower (or couple) that will be used to pay the credit. Thus, it helps to understand what is the available value of the income earned, to meet the expenses after the payment of benefits. Total amount charged to the consumer (MTIC): this acronym is what will let you know how much will cost you, exactly, the mortgage credit, corresponding to the total that you will have to pay for the credit by adding the amount of the loan with the costs of commissions, interest and taxes. Global Effective Anal Rate (APR): this is the rate that represents the entire credit charges, namely bank fees, registrations, taxes, among many others. Spread: this is the interest rate that is applied to credit agreements by the bank and represents its profit margin. What documents do you need to apply for a youth housing loan? • Citizen’s Card; • Receipts from the previous three months (or the most recent ones); • Statement of proof of the entity where you work; • Bank statement for the past few months; • Declaration of IRS. Guarantor: what you need to take into account Most likely you will be asked to elect someone as your guarantor, being this person committed to take responsibility for the payment of the debt if you incur in default of the credit agreement. Thus, your guarantor will be the bank guarantee for your credit, and may be required by the bank in the following situations: • if there is a risk of default; • if the stress rate is high; • When there is irregular credit history; • If you have an unstable financial situation. If the bank finds that your financial situation is stable, compliant and balanced, you can get a credit without needing a guarantor. However, you should always seek to obtain more than one credit simulation, from various banks and financial institutions , to understand which compensates the credit, and the values and rates may vary. We hope to have helped you and we are waiting for you in supercasa.pt to start the search for your future home!
Source: Freepik Author: Redaction The City of Lisbon discussed last Friday, April 12, the operation of municipal subdivision in the parish of Santa Clara , and it was approved in a private meeting of the executive. At stake is an area of 20,981 square meters, with four lots, for housing construction and commercial spaces. The proposal was submitted by Joana Almeida, councilwoman of Urbanism , and intends that two of the four lots, with 26,824 square meters, distributed over 265 homes, are allocated to housing use, while the remaining two are for use of trade and services, with 7,350 square meters of pavement surface. This subdivision operation obtained the final favorable opinion by the Regional Coordination and Development Commission of Lisbon and Tagus Valley (CCDR-LVT)However, the approval by the Chamber was conditioned by compliance with the opinions of the municipal services of urban planning, mobility management, urban hygiene and public space. Also accompany: Grupo Casais is building housing at controlled costs , Évora will build 122 new fires with investment of 26M€
Source: Freepik Author: Redaction Grupo Casais is carrying out a housing construction project for controlled cost rents in the subdivision of the Armed Forces in Entrecampos , Lisbon, as announced by the Portuguese construction company in a statement sent to the newsroom of SUPERCASA Notícias . The client of this work is SRU Lisboa Ocidental, S.A- Sociedade de Reabilitação Urbana. It is a nine-storey apartment building, intended for housing, which has on the ground floor common spaces for exclusive use of residents and technical areas. The spaces in question are: multipurpose room, locker/storage area; bicycle parking and patio. From floor 1 to floor 8 will consist of housing, and floor 9 the technical coverage. The first floor will still be provided with two commercial areas. The construction is traditional and the work, with a contract value of 9,325,862.38 €, started on January 30, 2023, with the current execution period corresponding to 22 months . The building consists of 68 housing units, with 15 units of typology T0; 23 units of typology T1 and 30 units T2. We believe that it is important to be involved in projects of this nature, since our main focus is to create positive impact on society, through various forms. We know that the housing segment is currently at a stage where intervention at critical points is extremely necessary. For this, it is crucial to act in an agile and consistent way and makes us very proud to be part of this process , says António Carlos Rodrigues, CEO of Casais Group , in the note to which SUPERCASA Notícias had access. Read also: Iniciativability Consulting arrives at Complexo das Amoreiras , Baixa de Lisboa wants to rehabilitate vacant municipal properties
Source: Freepik Author: Redaction The study Portrait of the Portuguese Youth Population. Who They Are, What They/Move Now and What Their Expectations Are shows a worrying reality for young Portuguese, who have more and more difficulty in leaving their parents home or receiving salaries in accordance with their academic qualification. The study, coordinated by Alexandra Serra from the University Institute of Health Sciences, and by Rui Serôdio, from the University of Porto, had a sample of 5137 young people, between 12 and 30 years old. According to the analysis, 65.6% of young Portuguese receive less than 1,000 euros per month and work, on average, 36 hours per week. On the other hand, the average salary is set at 724 euros for young people who work up to 35 hours a week, while for those who work between 35 and 40 hours, the salary is 847 euros. Young people working over 40 hours a week are paid an average of EUR 1144, but data shows that a gender gap, with men receiving 26% more than women, is where the incomes are highest. As for housing, the study indicates that only 20% of young Portuguese have their own home, contrasting with the 34% who live with their parents or other relatives and the 35% who rent. On the other hand, 10% live in rented rooms, paying on average 270 euros per month, while 12% spend a value above 700 euros per month. The share of young people who dream of one day being the owner of their home is 77.5% , hoping to achieve this goal by the age of 29, although the expectation increases to 33 years for those over 25 years. Also follow: Less and less young people are homeowners
Source: SUPERCASA Author: Redaction Warm days are at the door, calling for late nights on the street. Preferably, in pleasant and comfortable outdoor spaces such as a garden and terrace and, at a jump from summer, these become the dream of many owners . When it comes to outdoor activities at home , the terraces are ideal for those who have children or animals, advantageous for their low maintenance. If you are thinking of buying a house , it is important to consider that when choosing one with this type of outdoor spaces, you will live with a higher quality of life, as you will have just around the corner a refuge space and in which you can enjoy the hot days, and can even customizeand decorate it to make it even more appetizing and comfortable. Discover the selection of properties for sale at SUPERCASA with these features and dream of long sunbathing in the comfort of your home! Apartment T4 in Barreiro and Lavradio, Setúbal - 589.000€ House T3 in Valado dos Frades, Nazaré - 590.000€ House T3 Triplex in Celorico de Basto, Braga - 600.000€ House 3 Bedrooms Duplex in Mafra, Lisbon - 685.000€ House T4 + 1 Triplex in Nogueiró e Tenões, Braga - 750.000€ House 4 Bedrooms in Cascais and Estoril, Lisbon - 949.000€ Discover also Buy a land to build: everything you need to know or Póvoa de Varzim: travel to this Portuguese land
Source: Freepik Author: Redaction You may come across the question that most resonates among real estate professionals: after all, what distinguishes my ads from others? . By looking at these details, seeking to know exactly what makes a common ad a good ad - or an ad in an inefficient ad - you can find tactics to improve them and ultimately stand out from the competition. Are the photographs? The description? The factors, contrary to what you can imagine, are immense. To get a good property listing, it is necessary to analyze the 5 best practices that can differentiate them from others . Thus, SUPERCASA Notícias brings you these advices, helping you to get a better positioning and, consequently, a better performance. 1. Select photographs carefully The photographs of the property are one of the first things that a potential buyer will see when opening your ad , if not the first. This is the characteristic that will make you distinguish yourself from several other properties, marking the difference between an attractive ad and an ad without interest. The photos you select for your ad should therefore be of professional quality . This is an almost indispensable necessity today, with the human eye trained to recognize high-quality images. The images with which you choose to illustrate your property should clearly represent how desirable it is, creating the need to visit. An ad with high quality photos, carefully selected and with a professional look, can increase the chances of a solid and qualified visit request , noting that the first photo that links to the ad will be the one that will serve as the cover image. Take the user to click on your ad and make him want to be inside the property! 2. Use geolocation features Your ad will differ from others if you use the geolocation features at your disposal. In the SUPERCASA portal, for example, this is something that appears next to the property typology, and marks the difference between a map marked with the location of your property or a map without this signage . This will make it difficult to perceive whether or not it is a property located in an area of interest to the potential customer, generating doubts and disconnection from the ad. Almost 90% of people browsing real estate portals looking for a home open the map with the geo-reference of the ad they are seeing. From there you can start a request for a visit, according to a location that interests you. But in addition to this criterion, there are two others that you should consider: By filling in the full address and applying geolocation, the potential buyer will get a clear picture of the environment of the location in which the property is inserted . That is, he will research on urbanization, see if there are services in the surroundings and what the advantages or disadvantages of living there. Through the use of geolocation resources, will make your ad benefit from quality criteria that will make you rise in the property listing presented in the search results . 3. Price, the decisive element Right after the photos, or even before, the price is from the first impressions that a potential buyer will take from an ad. In fact, most likely it is one of the filters used in searches, because when someone searches for a home, they will look within the limits of their possibilities. Thus, if your property is above the price at which he filtered the search, your property will no longer appear in the list of results presented, even if it is a difference of 500 euros. Price is the decisive element , which can be used to play in its favour to create dynamism in the face of market competition. Still, it is essential that you set a fair price, using complete database tools that provide comparative market analysis, such as Infocasa . Through the price, it will show its customers that, although there are many properties with similar characteristics, its stands out for its value. And be careful: if a potential buyer does a search where you put the filter to find properties with maximum prices up to € 340,000, if your property is, for example, indicated with the price € 340,900, it will no longer appear, and if it appears eventually in another search, may appear little benefited in the listings, losing visibility over others with closer prices. Play with the price of the property in your favor! 4. Pay attention to the details you place in the ad description While you are doing your research, the potential buyer will select several filters that can completely disappear your property from the results. Thus, you must ensure that your ad is complete and filled with everything you have can be searched , namely the areas of the property, the typology, if you have garden, garage, elevator, virtual visit, videos, etc. And attention that even if you have indicated in writing in the description within the ad the various characteristics, it is not enough for them to appear in the filters, because it should even indicate the characteristics when creating the ad, fulfilling the criteria available, because one thing is the characteristics of the house that is selling, and another completely different is the description of the ad . 5. Be specific in the description The description of your ad should be clear, descriptive and informative about what exists in the neighborhood or surroundings . Specify how many meters are located the nearest transport or what kind of services there are, such as supermarkets, hospitals, schools... And if there are other attributes, include them, namely proximity to parks, gardens, beaches or large cities. Avoid being too generic and present details, too, without exaggerating. Highlight the characteristics of the property, can user Bullet-points to facilitate writing, and talk about the finishes, materials used in construction and basically the history and characteristics of the property, making it as appealing as possible. With a complete description, it will allow the potential buyer to imagine living in the property and make him decide more easily whether or not to schedule a visit. As you write the description, try to write down the enthusiasm of what it will be like to live in that house and area , highlighting the strengths of the property, the neighborhood, the surroundings and everything to which it is associated. We can assure you that the description is one of the most important elements in the decision making of potential buyers about whether or not they want to schedule a visit , however, in complementarity with the photographs, the price and the other characteristics, make your ad a perfectly detachable ad from the competition. Bonus tip: add a brand logo to your ad! Ultimately, in addition to making your ad stand out from the competition, you can also make your brand stand out. You can easily achieve this through your logo on property listing pages, or even with a banner of your brand. And how can you get these highlights? Simply, with the SUPERCASA portal, which provides you with the best dissemination strategies . Your brand will stand out , staying in the head of potential buyers who, in the future, will be able to use your real estate services. And all this because they saw your logo or name on the real estate portal page! Did you like these tips? Also read: Video Marketing: the trend that can change your business , Growth Marketing: what is it and how to benefit from this strategy?
Source: Freepik Author: Redaction The poorest families are finding it increasingly difficult to access new loans for house purchase and last year, as shown in a report by the Banco de Portugal (BdP), only 3% achieved this concession. Looking at the third quarter of 2018, the percentage of credit granted to high risk borrowers was 32%, having sunk in 2022 and 2023 to only 3%, This is an effect of the macroprudential recommendations for reducing the risks of the financial system, which came into force in September 2018 and continued to be met in 2023 , even though some indicators had shown improvement. Thus, with strict rules for granting credit, more vulnerable households are becoming dependent on the rental market, where rents are increasingly higher, in addition to the fact that interest rates have increased, leaving these aggregates without the possibility and ability to acquire their own housing. In September last year, contrary to the restrictive recommendations, Banco de Portugal relieved one of the brakes, deciding to reduce the stress rate to reduce the interest rate for the purposes of calculating the stress rate. Read also: Inflation in Portugal rose 2.3% in March, above the EU average , Bank profits in Portugal skyrocket to 5.6 billion and Profile of new residential credit customers improved in 2023
Source: Freepik Author: Redaction Data from the Survey of Living Conditions and Income released by the National Statistics Institute (INE) confirms the increasing difficulty of buying or renting a home in Portugal, both because of the scarcity of available homes and because of the high prices. These factors have affected families from all walks of life, especially young people, forcing many people to move back in with their parents or share rooms with their children. According to the figures, in 2023, one in five families lived in a property without enough rooms for the number of people in the household . Thus, 12.9 per cent of the population lives in overcrowded housing , of which 21 per cent are young people and 14 per cent are adults. The rate of housing overcrowding increased last year by 3.5 per cent compared to 2022, and is already the highest since 2010, when it stood at 14.6 per cent. The increase can be explained by the fact that many of these families were forced to sell their homes and, without finding an alternative they could afford, ended up in a situation of overcrowding. Other situations may be due to forced evictions from homes where landlords have not renewed contracts. The fact is that between 2022 and 2023, the number of people living in overcrowded situations rose by 37 per cent , which is 370,000 more people than the previous year. Read on: Property scams: what you need to do to avoid this situation , Fewer residents in Portugal bought a house in 2023 or Median bank valuation increased by €10 in February
Source: Freepik Author: Redaction The National Institute of Statistics (INE) advanced this Tuesday with data on the median values of bank valuation in housing, which increased in February, 10 € compared to the previous month . The value is thus fixed at 1,560 euros per square meter, with an annual rate of change of 5.5%, compared to 4.4% recorded in January. This is an increase of 0.6% , with the number of bank valuations around 28.3 thousand. Highlighted is the Autonomous Region of the Azores, with the steepest increase compared to the previous month, of 2.6% . The remaining regions also showed positive variations, however, the Autonomous Region of Madeira was the only one with zero variation and, compared to February 2023, the median value of the evaluations increased 5.5%. It was also in the Autonomous Region of Madeira that the variation was more intense, 19.1%, without any decrease. The INE bulletin also adds that in February, the median value of the bank valuation of apartments was 1,741 euros per square meter , increasing 4.8% compared to the same month last year, with the most pronounced values occurring in Greater Lisbon and the Algarve . In the Centre, on the other hand, the lowest value was recorded. Read: Less residents in Portugal bought a house in 2023 , More and more banks are partners of credit intermediaries
Source: Freepik Author: Redaction This Friday, 8 March, Eurostat revealed its estimates for economic growth in the Eurozone and the European Union, which will have grown by just 0.4% in 2023 compared to the 3.4% recorded in 2022 . This is a downward revision compared to the initial estimate, which pointed to a rise of 0.5 per cent. In quarterly terms, GDP (Gross Domestic Product) was stable in the fourth quarter of 2023, both in the Euro Zone and in the European Union, compared to the previous quarter, and Portugal was the fifth country with the highest growth in the EU (fourth in the Euro Zone), according to Eurostat. In the last quarter of the year, the Portuguese economy grew by 0.8 per cent , behind Latvia, which also grew by 0.8 per cent, Slovenia, which grew by 1.1 per cent, Croatia, which grew by +.13 per cent, and Denmark, which grew by +2 per cent. On the other hand, the countries with the biggest decreases were Ireland, with -3.4 per cent, Estonia and Finland, both with -0.7 per cent. Number of people in employment increased The European statistical office also revealed data on employment, with the number of people employed increasing by 0.3 per cent in the Eurozone and 0.2 per cent in the European Union during the fourth quarter of 2023 compared to the previous quarter. In Portugal, on the other hand, employment fell by 0.1 per cent in the last quarter of the year compared to the same period last year. Discover other topics in SUPERCASA Notícias
Source: Freepik Author: Redaction Families facing financial difficulties can bring forward the redemption of their savings in retirement savings plans (PPR), education savings plans (PPE) and education savings plans (PPR/E) to pay off housing loans. However, only the amount saved up to a certain date is exempt from penalties. The understanding on this issue is outlined in an internal document from the Tax and Customs Authority (AT), signed by the deputy director-general responsible for income tax. This document, based on a government order, aims to clarify doubts related to the exceptional refund regime, especially in relation to the eligibility period for redemptions. With this restriction, it becomes unfeasible for a taxpayer to top up a PPR in order to enjoy IRS tax benefits and then redeem the amount early without incurring penalties. Did you like this topic? Read also: More families opt for mixed rates on home loans
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