Source: Freepik Author: Redaction Matosinhos is about to take a significant step forward in promoting affordable housing with the launch of an innovative program. The City Council plans to introduce the Cooperative Housing Support Program, with the aim of making housing cooperatives a viable alternative to the traditional real estate market. This program targets families with difficulties finding housing and young people looking for their first home , offering them an affordable cooperative solution. The plan is to build 100 housing units in the first phase , with the possibility of participating individually or in groups. The municipality of Matosinhos undertakes to transfer the surface right of a piece of municipal land free of charge for 90 years, renewable for the same period. After the end of the contract or the cooperatives liquidation, the land and building will revert to the municipality free of charge. As well as support for the granting of land, the city council proposes to offer a maximum subsidy of 75,000 euros for the architectural project, exemption from urban planning fees and tax benefits. In turn, the cooperatives will be responsible for the legal and administrative formalities, as well as the corresponding financial costs. This program is seen as an important step towards guaranteeing access to housing in Portugal, providing vital support in the development of a fairer and more cohesive society. With the implementation of this program, Matosinhos is building a more inclusive and sustainable approach to housing in the region. About housing, read also: Portugal 50 years after the revolution: what has changed in housing? and Municipalities record slowdown in house price rises
Source: Freepik Author: Redaction According to Mário Centeno, Governor of the Bank of Portugal (BdP), the housing crisis requires a balanced approach, where it is crucial to increase housing construction without creating an oversupply. Centeno acknowledges that the construction sector has been at a virtual standstill for the last decade, emphasizing the devastating effects of housing crises on the economy, which need time to be resolved. During a lecture to economics students at Vila Real de Santo António Secondary School, Centeno stressed the importance of preparation in order to take advantage of opportunities, warning of the prolonged impacts of housing crises . He pointed to the consequences of the 2008/2009 financial crisis and sovereign debts in Europe, which significantly damaged the construction sector in Portugal. Centeno noted that stagnant supply combined with growing demand has boosted property prices in Portugal since 2014, especially due to demand from foreigners. However, he pointed out that the increase in housing supply is a slow process, contributing to the maintenance of high prices. The former finance minister also emphasized that Portugal has not experienced significant population growth to justify the increase in demand for housing, unlike countries such as China and Japan, which are facing an opposite crisis with a surplus of housing, leaving a warning of the risks of a housing crisis and its ability to cause substantial economic damage, as seen in other European countries in the past. To avoid a housing crisis, the BdP governor advocates a gradual increase in the supply of housing , but with caution to avoid an excess that could trigger a supply crisis in the future. Follow these and other topics in SUPERCASA News
Source: Freepik Author: Redaction Finance Minister Miranda Sarmento acknowledges the possibility of updating the specific deduction in the 2025 State Budget , in response to a proposal from the PCP. During the debate in Parliament on the reduction of personal income tax in all tax brackets up to the eighth, the minister indicated that updating the specific deduction could be considered in conjunction with a reduction in personal income tax rates. This update, according to Sarmento, is an instrument that could be evaluated for the 2025 State Budget, also with a view to reducing personal income tax for workers. PCP MP Paula Santos had asked the government about the possibility of easing taxation , suggesting updating the specific deduction, which has not been revised since 2010, resulting in a loss of purchasing power for taxpayers over the years. The minister stressed that the governments goal is to ease taxation, and to this end, the program includes three billion euros aimed at reducing the IRS over the course of the legislature. In addition to the reduction in rates, measures such as the IRS Jovem and the exemption of productivity bonuses are planned for 2025. The minister also assured that the government intends to implement these measures as soon as possible. Suggested reading: Filing the IRS: take note of this information or The Portuguese economy grew more than the tax burden in 2023
Source: Freepik Author: Redaction According to data released by Eurostat this Thursday, April 25, the employment rate in the European Union (EU) reached 75% in 2023 , which represents a significant increase compared to the previous year. This means that 195.3 million people between the ages of 20 and 64 were employed during this period. In Portugal , the employment rate was even higher, reaching 78.2% in 2023. This increase marks the third consecutive year of growth in the employment rate , after a drop in 2020 to 72% due to the impacts of the covid-19 pandemic. Among the member states, the highest employment rates were recorded in the Netherlands (83.5%), Sweden (82.7%) and Estonia (82.1%), while the lowest were observed in Italy (66.3%), Greece (67.4%) and Romania (68.7%). Follow these and other topics in SUPERCASA News
Source: Freepik Author: Redaction The good temperatures invite you to take walks in the fresh air, and you can take advantage of the long weekend with the national holiday to get away with your partner or family and discover some of the most charismatic corners of our country. From north to south, there are many possibilities, but today we bring you the most emblematic gardens with history in the country , with an itinerary from north to south that will leave you impressed. North Well start in the north, where youll find a welcoming region with a very diverse and modern cultural past. We suggest the following: - Jardim Botânico do Porto: in this garden, one of the most iconic in the city of Porto, youll find four hectares of diverse vegetation and various types of green spaces; - Jardim do Passeio Alegre, in Porto: a magical garden that impresses with its excellent condition and magnetic beauty, where you can play a round of golf or spend a good afternoon in the café that used to be a garden chalet. Center In the center of the country youll find options that will delight the little ones and the big ones alike, with a huge cultural heritage that you can explore, as well as other places in the central region, but the suggestions not to be missed are the following: - Quinta da Regaleira, in Sintra: where youll find a romantic, magical and mysterious setting full of symbolism and enigmas; - Gardens of the National Palace of Queluz, in Lisbon: stroll through these lush gardens and let yourself be carried away by the geometric flowerbeds and ornamental fountains and imposing sculptures. South In the south, after a long journey, you can relax on the Algarves beaches, which are so popular in the hot season, and pay a visit to the unforgettable gardens with history that this itinerary has in store for you. - Jardim Botânico da Universidade do Algarve, in Faro: visit the wonderful collection of plants that this garden houses and explore the different corners overlooking the sea - Loulé Botanical Garden: this verdant oasis will transport you to a true evening of relaxation and harmony, where youll find unique landscapes and lots of native species. - Jardim Municipal de Faro: this great place will allow you to enjoy the city air, combining the useful with the pleasant. Our advice is to plan your itinerary in advance , defining exactly which gardens you want to visit, in order to organize and make the most of the time you have available, also according to your location. If youre staying in some kind of accommodation establishment, such as a hotel or local accommodation, remember to book in advance and research other possible local attractions. Want to discover other destinations for your next vacation? Check out our SUPERCASA News recommendations
Source: Freepik Author: Redaction According to the latest Financial Stability Report on the Insurance and Pension Funds Sector , released by the Insurance and Pension Funds Supervisory Authority (ASF), only 1 in 5 homes in Portugal are covered for seismic risk . As a result, only 19% to 20% of properties are protected by insurance that would allow them to recover from damage caused by an earthquake. The regions with the highest number of properties with this type of cover are the Algarve, Lisbon and the Tagus Valley and Porto , the first two of which are also the areas with the highest seismic risk at national level. The ASF report points to an uneven distribution of Seismic Phenomena (SF) coverage between the different councils, ranging from 3% (in councils such as Mafra, Cascais and Oeiras) to 36% (Barrancos, Penamacor and Almeida). This disparity highlights the need for a more equitable approach to the distribution of this type of coverage. The regulator also warns that this insufficient coverage could jeopardize the countrys ability to recover in the event of a seismic disaster: “ the probable loss of income for individuals combined with the need to reconcile the financing of the reconstruction of the property and the payment of mortgage credit could lead to high losses, with direct contagion to the financial sector” the report states. In other words, a catastrophe could lead to state intervention, given the lack of financing alternatives for the reconstruction of properties, a factor that could put pressure on the countrys “perception of credit risk”. In view of the worrying lack of seismic risk coverage, the ASF is promoting initiatives to create a national system of protection against seismic phenomena , including the proposal for a seismic fund. These measures aim to mitigate the negative consequences of a possible seismic catastrophe and reduce the pressure on the state to finance post-disaster recovery. This approach highlights the main points of the ASF report, from the lack of seismic risk coverage to the initiatives proposed to deal with this challenge. Follow these and other topics in SUPERCASA News
Source: Freepik Author: Redaction Portugal is celebrating half a century since the Carnation Revolution, a milestone that not only ended a long dictatorship, but also triggered significant transformations in the countrys housing scene. In the last 50 years, the number of homes in Portugal has more than doubled, providing a significant increase in the availability of housing for families . In addition, the quality of housing has improved considerably , with a drastic reduction in the lack of basic services such as electricity, piped water and sanitation. These improvements are testimony to the progress made in providing adequate housing for Portuguese citizens. However, despite the increase in housing stock, significant challenges remain. Finding a decent home remains an arduous task for many Portuguese, especially due to the shortage of supply and constantly escalating prices , making the housing market increasingly competitive. One notable change is the growing prevalence of vacation homes over main residences. This phenomenon reflects not only the evolution of the tourism sector, but also policies to encourage foreign real estate investment, such as gold visas. Despite the increase in the number of homes, the problem of empty homes persists , presenting additional challenges. The new government is proposing measures to address these challenges, including incentives for first-time home buyers and the rehabilitation of empty homes, but the implementation of these policies may encounter obstacles without a parliamentary majority. As Portugal celebrates 50 years of democracy, the issue of housing continues to be a central point of debate and action, highlighting the need for comprehensive and sustainable solutions to guarantee access to decent housing for all citizens. Read also: More than 273,000 pensioners would receive less than €278 in 2022 and Lack of labor causes construction costs to rise
Source: Freepik Author: Redaction Although house prices continue to rise in Portugal, at the end of last year there was a slowdown in most of the most populous municipalities compared to the previous quarter. According to data released on Tuesday by the National Statistics Institute (INE), the median house price rose by 7.9% compared to the same period in 2022, reaching 1619 euros per square meter. This represents a drop of 1.3% compared to the median price in the third quarter of 2023 , marking a reversal in the upward trend that had been in place since the fourth quarter of 2022, according to INE. All the municipalities with more than 100,000 inhabitants in Greater Lisbon, the Setúbal peninsula and the Porto Metropolitan Area, with the exception of Santa Maria da Feira and Gondomar, recorded median house prices higher than the national average in the fourth quarter. However, INE points out that there was a slowdown in house prices in quarterly terms in 18 of the 24 municipalities with more than one hundred thousand inhabitants , including the nine municipalities of Greater Lisbon. From the third to the fourth quarter, the year-on-year rate of change increased in six of the most populous municipalities , with the biggest variations in Maia and Vila Nova de Famalicão. On the other hand, prices fell in the municipalities of Porto and Lisbon, with the biggest drop at a national level in Funchal , among the most populous municipalities. Lisbon remains the region with the highest prices , with the municipalities of Cascais, Loulé, Lagos, Vila do Bispo and Oeiras standing out. INE also points out that in the Algarve and Greater Lisbon there are price differentials between municipalities that can exceed two thousand euros per square meter. Want to read more about housing? SUPERCASA News recommends: Minister says “supply shock” needed in housing and Lack of housing in the northern region: CCDR-N indicates solutions
Source: Freepik Author: Redaction According to the 2023 Monetary Emission Report published by Banco de Portugal (BdP), 265.8 million €20 banknotes were produced last year through the printing company Valora. In the information disclosed in the report, presented on Monday, the activities of the central bank with regard to the issuance of banknotes and coins are described , and it is possible to determine that the total of the banknotes produced arepart of banknotes allocated to the BdP for production under the agreement with the central banks of Austria and Belgium. Still, t here was a negative issuance of the monetary production of the banknotes in Portugal, of -24.7 million euros, which represents a decrease of 17.8% compared to the end of 2022. Thus, 6,372.7 million euros in banknotes came out of the BdP and 10,113.6 million euros came in. The justification behind this variation lies in the positive development of tourism, which has brought in banknotes that are not absorbed by demand, but also by the rise in interest rates of the European Central Bank (ECB), which has discouraged banknote holdings. On the other hand, the net issuance of coins increased again, setting itself at 791.6 million euros at the end of 2023. On a global scale, the number of banknotes and the number of euro coins circulated reached historic highs at the end of last year , setting and 29.8 billion banknotes and 148.2 billion coins. In this sense, the BdP indicates that the growth of net monetary issuance confirms that cash remains the most used means of payment by euro area citizens even though the value of banknotes in circulation has decreased for the first time since the introduction of the euro currency, set at 1.6 trillion euro. This fall represents -0.3% compared to the end of 2022, reflecting the growth of the ECB’s interest rates. Regarding counterfeits , the Monetary Issuance Report indicates that 16,723 counterfeits of banknotes and 3,197 counterfeits of coins were withdrawn from circulation in Portugal, corresponding to tiny percentages of the number of genuine banknotes and coins in circulation . Continue reading: Bank unduly charged more than 8 million euros in 2023
Source: Freepik Author: Redaction The Social Security Account Report for the year 2022 , recently released, shows a scenario of poverty for pensioners in the country. According to reports, more than 1.3 million disabled and old-age pensioners, out of a total of around 2 million, live below the poverty line, with less than €591 per month. Thus, more than 273 thousand pensioners were identified to receive less than €278.05 , corresponding to the minimum pension of the general scheme, leaving several people in a vulnerable economic situation. To address this problem, the State has announced supplements aimed at raising pensioners monthly income, but this is a very high number and is growing: there is an increase in the number of supplements compared to the total number of pensioners, reflecting the fact that there are more pensioners with a value below the minimum established, as soon as they are entitled to receive social supplement , as indicated in the report. It is also highlighted that, based on the Social Support Index (IAS) of 2022, two out of three pensioners of old age and disability received a pension of value equal to or less than 443.20 €, while more than 1 million received 278.05€ and 443.20€. On the other hand, more than 300,000 received 443.21€ and 664.79€, below the top tier, corresponding to 2133 pensioners, who received 5318.41€. More on this topic: Ageing Report 2024: pensions may fall significantly until 2050
Source: Freepik Author: Redaction The user licence was no longer compulsory after the new licensing simplex came into force in January of this year following a legislative amendment aimed at simplifying procedures and licences. However, there are records that this legislative change is causing problems, with several houses for sale on the market without a license , promoted by investment funds that acquire portfolios of bad loans to banks. From the beginning the diploma was criticized and dismayed, dropping the obligation of use licenses or technical sheets of housing in the sale of houses, leading the sector to react with criticism and warnings. First of all, it was felt a lack of consideration of families who want to buy a house, since, in this way, they can buy houses without a license, often being prevented from accessing housing credits. Still, the new legislation gave impetus to the real estate market, with more houses coming to the market to be sold, increasing the housing supply in Portugal . In the advertisements, the absence of the user license or the fact that the box has to be carried under simplex are indicated. Although there are several ads with these indications, there are many others that do not provide due information to potential buyers, creating the risk of having houses for sale without proper licenses, which has led to the Notaries Order (ON) to prepare to present a repeal of the standard , so that the transmission of the property with the municipal consultation, in order to know whether or not it is licensed, is again mandatory. Follow more topics like this: About 1.5 million PARI cases were initiated in 2023 , Real estate scams: what you should do to avoid this situation or New urban simplex is generating confusion in municipalities
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