Source: Adobe Stock Author: Redaction On August 22, the Council of Ministers approved a decree that ended the payment of the Extraordinary Contribution on Short-Term Rentals (CEAL) . Marcelo Rebelo de Sousa enacted this and other decrees last Sunday. Thus, the measures regarding the extraordinary contribution on short-term rentals and changes to the depreciation coefficient were revoked. In addition to this decree, the President of the Republic also enacted decrees related to other measures of the “More Housing” program and the RAL+ digital platform , where it will be possible to handle matters related to Family and Labor Mediation and Justices of the Peace. This is an online platform that serves as an alternative means of dispute resolution. Read more about: Home loans: new drop in Euribor rates , Porta 65: new rules came into effect on September 1 , ALP creates support service for landlords with old rents.
Source: Freepik Author: Redaction The end of the expiration date for access to extraordinary income support was approved on Monday, May 27, in the Council of Ministers, contemplating contracts with changes after March 15, 2023, provided they maintain the landlord, tenant and property . The expiration of this support was felt by several tenants, who suffered changes after the update of the rent value. There were several landlords who had renewed, change, replace contracts, signed before March 15, 2023, and in which the parties remained, but there was an acceleration of the rent values and lost the right to support , indicated the Minister of the Presidency, António Leitão Amaro, leaving the repair: if there was a contract before March 15 and if the same parts and the same property are kept , the support will remain in force. This extraordinary income support, which can reach 200 euros per month, covers the lease contracts concluded until March 15, 2023, which caused a flood of updates by landlords, which led to several eligible tenants losing their right to support, after the respective changes. After a series of complaints, and once the support arrived, at the end of April, to only about 223,200 tenants (-10 thousand compared to the beginning of the year), the Government was obliged to take measures to mitigate this situation, allowing the allocation of support to injured tenants, and that covers households with incomes up to the 6th IRS. The support, automatically awarded, will be in force until the end of 2028, subject to annual verification by the Government. Displaced workers benefit from incentives In addition to the approval of the end of the expiration date for access to extraordinary income support, a measure that encourages labor mobility was also approved. Thus, a displaced worker can deduct the cost of the new income, in the new location where he will be living, in relation to the property income obtained from the lease of his home. The Minister of the Presidency explained, at the end of the briefing of the Council of Ministers: when someone moves to work in a city or village more than 100 kilometers from the house and, when leaving, rents the house and will have to rent the house in the place where he will work, we allow the income received and the income being paid to be calculated together , he indicates, underlining that the rent paid is deducted from the rent received in the home of origin. In this way, the tax on the income obtained from the rental of the original property will be lower: the person who will have to pay the new rent and its cost will be deducted from the income of the house from which he lived. On maximum ceilings for this deduction, the minister left the indication that has as limit the value of the rent of the house where you leave. Stay for more topics like this: Coercive Lease: Measure is Revoked by the Government , Door 65 Young: Know the New Rules and Less 10,000 people received income support in April
Source: Freepik Author: Redaction It was last Friday, May 17, that the Minister of Infrastructure and Housing, Miguel Pinto Luz, defended that housing cannot be used as a weapon of political game . In his speech at the opening of the sectoral debate, Miguel Pinto Luz thanked the political parties for opening the dialogue with the Government, indicating the urgency in solving the problems related to housing in Portugal. I have no doubt that if there is one issue that unites this House it is the sense of urgency with the housing crisis. More than pointing out guilty, than the usual game of passing blame, the Government is focused on developing solutions , adding: if there is matter that for its urgency should not be a weapon of the political game, it is undoubtedly the Housing. And he thanked: it is fair to thank you for having accepted this challenge and for the sense of responsibility that everyone, without exception, brought to these meetings. For this healthy dialectic that honors democracy and elevates us all as political agents, he indicated, referring to the parliamentary opposition benches. Opposition measures will be included in the new government strategy Miguel Pinto Luz admitted that there may be opposition measures in the new government plan for housing , showing willingness to dialogue with the various parties. This was the message I wanted to leave you with: a message of work and perspective that we could include [in the housing package] many of the proposals that were presented to us by the political parties, said the Minister for Infrastructure and Housing, in Assembly of the Republic, last Thursday, May 16. In the statements made at the end of the debate on the program, the minister indicated that the meetings were very fruitful , having been presented very interesting ideas that the Government proposed to evaluate . In this sense, the diplomas proposed by the Government will be evaluated and voted on in Parliament, having been agreed, in an open working methodology , that whatever has to pass through the Assembly will pass with the willingness of the Government of Luís Montenegro to dialogue: dialogue goes beyond the walls of this maximum space of democracy. Regarding the housing crisis, Pinto Luz leaves no room for doubt, pointing out it as a national urgency, and leaves the call for common work between the Government and the other parliamentary forces, with humility, to be able to reach a solution. Find more topics related to Housing and the Real Estate Market in SUPERCASA Notícias
Source: Freepik Author: Redaction A new housing strategy was approved this Thursday, May 9, in the Council of Ministers, where it was defined that the measures will be made public in the coming weeks and discussed at the next meetings. Prime Minister Luís Montenegro said: We are going to make it public in the next few days [the housing strategy], and in the coming weeks the meetings of the Council of Ministers will have several diplomas that will implement exactly the strategy that has been discussed by all members of the Government , said the head of government, at the end of the meeting. At a time of housing fragility , when there is a lack of housing supply and there is a consecutive increase in prices , the new government of Luís Montenegro considered that the measures of the More Housing Programme were not compatible with the needs of the country, repealing several of the measures previously implemented by the Government of António Costa, namely the coercive lease and the limits of the licenses in the Local Accommodation. On the repeal of the measures of Mais Habitação , Miguel Pinto Luz, Minister of Infrastructure and Housing, said during his presence at the Salão Imobiliário de Portugal (SIL): we are making a serious analysis of what needs to be changed (...) [we will not] arrive and destroy everything that was done by the previous Government. We’ll do our part . During the Council of Ministers, the Government of Ludwig Montenegro also admitted: the Government is determined to repeal rules such as forced rental, rent freezes (applying subsidies to vulnerable tenants), and measures to penalise local accommodation such as the Extraordinary Contribution on Local Accommodation, the expiry of licenses prior to the More Housing program, and other legal limitations considered disproportionate, indicates the executive program. More news related to Housing: Rents will be deducted in the IRS up to a maximum of 800 € , Government expands role of Estamo to include housing
Source: Freepik Author: Redaction The government has decided to expand the scope of Estamo, the company in charge of state-owned real estate assets worth around one billion euros, to include the Ministry of Infrastructure and Housing (MIH) as well as Finance. The main aim of this change, which previously fell exclusively under the Ministry of Finance, is to put a significant part of the states assets at the service of the communities housing needs. Miguel Pinto Luz stressed the importance of increasing the supply of housing and announced that the government will present specific measures in the coming weeks to develop a public housing policy. This initiative marks a paradigm shift in the management of state assets, reflecting the current governments emphasis on housing. With the dual tutelage of Estamo by MIH and Finance, the government will have the ability to examine the companys portfolio and select the most suitable properties to implement quality housing policies. This action aims to facilitate the effective use of state property to meet the housing needs of the population. Estamo was appointed to replace the General Directorate of Treasury and Finance (DGTF) in the management of public real estate, as determined by the previous government, with a view to more integrated and professional management of state real estate. However, until now, the companys tutelage has remained exclusively with the Ministry of Finance, with no specific focus on housing policies. The partnership between Estamo and the Housing and Urban Rehabilitation Institute (IHRU) in the Rent to Sublet Program (PAS) was one of the measures implemented to increase the supply of affordable housing on the rental market. The Minister of Infrastructure and Housing emphasized the importance of various measures, including the public promotion of construction, the support of municipalities in licensing and the revision of housing cooperatives, to address the countrys housing challenges. The government also intends to revisit the Mais Habitação program and Simplex in order to improve and adapt these initiatives to current needs. This includes repealing measures considered unfair, such as restrictions on local housing, and dialoguing with local authorities and investors to implement changes to forced renting. In addition, the government plans to examine tax policy, especially for young people, and revise the building code to align market expectations with various segments of the population. Follow this and other topics in SUPERCASA News
Source: Freepik Author: Redaction The rent support subsidy is losing beneficiaries, with several landlords allegedly forcing their tenants to sign new rental contracts and, since this extraordinary support only covers rental contracts signed until 15 March 2023, with the signing of a new contract, access to the subsidy is lost Thus, even if there are families who fulfil the eligibility requirements for the support created under Mais Habitação in 2023, the signing of a new contract cancels the validity of the support, regardless of whether or not they continue to live in the same house. In the second, third and fourth quarters of 2023 alone, according to the National Statistics Institute (INE), more than 69,000 new housing rental contracts were signed in Portugal, but it is still unknown how many of these households were eligible for the other support criteria. The extraordinary rent support is granted automatically to households with an effort rate of over 35% when paying their housing rents, with incomes up to the sixth IRS bracket and contracts signed by 15 March last year. On the subject of renting, read the following articles: Portugals rental market grows by 4.5 per cent , New 25 per cent rate to cover all rents received in 2023
Source: Freepik Author: Redaction As indicated by the Tax and Customs Authority (AT), the IRS rate borne by landlords who do not choose to encompass the income at the time of filing the IRS statement becomes 25% , and includes all housing rents that have been received over 2023 in leases of less than five years. The new rate of 25% provided for in paragraph 2 of article 72 of the IRS Code will apply to all real estate income resulting from housing lease agreements received in 2023 , explains the AT. Provided for in the More Housing Law, the special rate on housing rents, before 28%, thus falls to 25% and only excludes rents that previously benefited from an IRS rate below 25%, maintaining the most favorable tax regime. Property income resulting from permanent housing leases for less than five years that already benefited from a lower IRS rate, shall keep this rate lower until the end of the contract or until its renewal, depending on what happens first , he concludes. On the other hand, the rate of non-residential rent is maintained at 28% , corresponding to the level that results from it when there is the inclusion of income. Continue reading, on this topic: Landlords who have not raised rents will have discount in the IRS
Source: Freepik Author: Redaction The three-month deadline for taxpayers to reinvest gains from the sale of property in the amortisation of the loan for the house they live in, without incurring taxation, may be extended until March 2025 , according to the Tax Authority. This opportunity for exemption from IRS taxation for profits from the sale of property, such as building plots or homes, is provided for in the Mais Habitação legislation. To qualify for this exemption, the sale of the land or homes must take place between 1 January 2022 and 31 December 2024 , and the proceeds of the sale must be reinvested in the total or partial repayment of the taxpayers own permanent housing loan or that of one of their descendants, within three months of the date of sale. In a communication to the services and in order to ensure the consistent application of the new rules established by Mais Habitação regarding the taxation of capital gains, the Tax and Customs Authority (AT) clarifies that the amortisation of any loan taken out for the acquisition of the property and the application of the realisation value (possibly deducted from that loan) can, at the most, be carried out until March 2025 . This understanding stems from the fact that the loan must be amortised within three months of the sale , and the capital gains tax exclusion regime applies to sales made between the beginning of 2022 and the end of 2024. In addition, the AT clarifies that the exclusion from capital gains taxation applies even when the taxpayer reinvests only part of the amount obtained from the sale in the amortisation of the loan , either because that is their intention or because the credit is less than the amount generated by the transaction. In such cases, the exclusion from taxation only applies to the proportional part of the profits corresponding to the amount reinvested. This regime applies regardless of whether the sale of one or several plots of land or residences is involved, as the realisation value of a property sold (or several) can be distributed to amortise housing loans intended for the permanent residence of several eligible beneficiaries. This means that, in a family where more than one person has a loan for their own permanent home, the money obtained from the sale of land and homes can be used to amortise several loans , as the scheme allows for the amortisation of any housing loan intended for own permanent home. The Tax Authority has previously clarified that, in cases where the sale of these types of property took place before Mais Habitação came into force (October 2023) and capital gains tax has already been paid, taxpayers can request a refund of the tax paid by submitting a replacement declaration for IRS Model 3 . This request can be made within two years of the end of the legal deadline for submitting the tax return, or within the same deadline for submitting an administrative claim, as provided for in the IRS code, generally until the end of June 2025. Also read: Selling on Real Estate Portals: 3 essential reasons , More families opt for mixed rates on home loans and Public tenders for housing are not attracting candidates
Source: Freepik Author: Redaction The Democratic Alliance (AD) has proposed launching a program of public-private partnerships for large-scale construction and rehabilitation of housing and student accommodation . The coalition also wants state buildings and land that are vacant or underused to be put on the market, as well as the creation of a temporary tax reduction scheme for construction or rehabilitation work. In the document presented this Wednesday by Luís Montenegro at the Lisbon Congress Center, 13 measures are proposed to respond to the housing crisis , in addition to reformulations to the Mais Habitação (More Housing) program, where they intend to repeal measures such as forced rentals, rent freezes, the Extraordinary Contribution for Local Accommodation (AL), among others. These are some of the measures included in ADs program to solve the housing crisis: Flexibility in land occupation limitations, urban densities and construction requirements; Quasi-automatic market injection of vacant or underused public properties and land; Create an exceptional and temporary scheme to eliminate or reduce tax costs on construction work; Launch a Public-Private Partnership program for large-scale construction and rehabilitation of both general housing and student accommodation; Encourage new accommodation concepts on the Portuguese market, such as the regulatory sand box; Analyze the new legislative framework for licensing; Allocate support to tenants according to other rules that are not limited to the effort rate and income level and no longer use contracts signed before March 15, 2023 as a benchmark; Supporting young people who want to buy a house without sufficient family or personal savings. Read also: Nazarés Municipal Housing Plan is under consultation and Demand for credit in the eurozone shows signs of stabilizing
Source: Freepik Author: Redaction The government published the National Housing Programme (PNH) 2022-2026 in the Diário da República this Friday, January 5. This instrument brings together, in a single document, the policy framework for the housing sector, identifying the main shortcomings, instruments and objectives for their progressive elimination. The implementation of the National Housing Plan will have an annual report with data on the weight of public investment in housing. According to the law, the Institute for Housing and Urban Rehabilitation (IHRU) must receive, by 15 December each year, data on the implementation of the NHP, provided by the various entities promoting it. The aim is to gather information so that the National Housing Council and the Observatory for Housing, Renting and Urban Rehabilitation (OHARU) can draw up an annual housing report to be presented to the government and then to parliament by the end of the first half of the following year. The PNH is provided for in the Basic Law on Housing and as a whole includes 22 measures and an investment of 2.377 billion euros by 2026 to expand the public housing stock. On housing, read also: Extraordinary support for rents: Social Security denies delay , In 2023 house sales fall by around 20% or Stock of housing loans rises again slightly
Source: Freepik Author: Redaction The Mais Habitação Program came into force last October, with a wide range of measures to promote and support access to housing in Portugal , with affordable prices and a regulated housing market. However, it is necessary to monitor the implementation of the measure , which Marina Gonçalves, Minister of Housing, confirms can be done mainly through the registration of contracts with the tax office. For the Minister, the law is clear, pointing out that there are two dimensions with regard to rent rises: there is the dimension of new contracts , which is the measure that is in Mais Habitação (More Housing) and that, in fact, what it says is that a lease that existed, whose contract ends, and a new contract is made on the same house, that rent is limited to the rent that existed - regardless of the application of the coefficients, obviously - to a limit of 2% , she explains. As for the second dimension , Marina Gonçalves says that these are the existing contracts indexed to what is the legal term (...) indexed to inflation, which next year is around 6.94% . The figures indicated include the new offer that exists and that, for the first time, is being placed on the market , belonging to the free market that operates on its own . It also points out that, in relation to the projects founded by the government, including, for example, affordable rent, it is talking about new supply and not supply that is already on the market . With regard to monitoring compliance with the law, Marina Gonçalves leaves no room for doubt, pointing to the registration of contracts with the tax office as the greatest form of monitoring , since they are subject to stamp duty and are therefore registered on the tax office portal, and assures that this has been strengthened. Read also: Late capital gains investments may be exempt
Source: Freepik Author: Redaction If you sold your house and only managed to invest its value in another home after the legal deadline to benefit from the IRS exemption on these amounts, you may be able to obtain an exemption on the capital gains of the value in question. To benefit from this exemption, you need to contact the Tax and Customs Authority (AT) from April 2024. This is because one of the laws of the Mais Habitação (More Housing) programme provides for the suspension of the deadline for reinvesting capital gains for two years from 1 January 2020 , which means that it starts counting from 2 January 2022. According to the AT, in order to benefit from the exemption, you must submit a replacement personal income tax return or file a complaint against the fact that the AT has assessed the personal income tax . You can also make a request for review of tax assessment acts within three years of the tax act, using serious or notorious injustice as a basis. Follow these and other topics in SUPERACASA Notícias
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