Source: SUPERCASA Author: Redaction The town of Cascais will host the next free eGO Real Estate workshop dedicated to Sales in Real Estate Mediation. The aim of this event is to prepare all real estate agents to manage their day-to-day activities efficiently . We wont leave anything out and well guide you through every stage of the sales process: from market research to the actual sale of the property, including, of course, canvassing and negotiating with the potential buyer. This workshop will be a unique opportunity for in-depth learning , which will help agencies, consultants and estate agents to streamline the execution of tasks and the follow-up of procedures. In this way, we want to contribute to a noticeable improvement in performance, both individually, collectively and as a team, thus resulting in a more efficient and profitable business for everyone. Wit h eGO Real Estates range of customisable, state-of-the-art websites , youll discover the best techniques for positioning your agencys website prominently in Google search results. Youll learn defined methods and strategies for promoting your property portfolio on the main real estate portals on the market: SUPERCASA and CASA SAPO . Youll be able to apply all the knowledge youve acquired in real time and, along with the tips shared by our trainer, such as creating a Comparative Market Analysis from your CRM, make the most of your property management tool and dedicate yourself to what you love most: selling property! Throughout this workshop well be presenting revolutionary innovations for the sector, such as Infocasa - My Routes . Get to know first-hand how it works and all the advantages this new tool has to offer both the consultant and the agency manager. But thats not all, as we have several other new features for you. Come and spend a day with the eGO Real Estate team, during which we will share with you essential knowledge for any professional in the sector. Share your experiences with us and clear up any doubts you may have. Enjoy the knowledge and socialising with fellow professionals while tasting the traditional kisses from Caldas and sipping a ginjinha from Óbidos. Take advantage of the exclusive offers we have for you! Join us on 12 October at the Vila Galé Cascais Hotel, from 09h45 to 17h00. To guarantee your place, register here .
Source: Freepik Author: Redaction The European Central Bank (ECB) is the institution responsible for conducting monetary policy and maintaining price stability in the eurozone, which is made up of 19 of the 27 European Union countries that have adopted the euro as their official currency. The ECB was created with the Maastricht Treaty in 1998 and began its operations in 1999. The main functions of the European Central Bank are: Monetary Policies: the ECB is responsible for defining and implementing the monetary policy of the eurozone. Its main objective is to maintain price stability, which means keeping inflation low and under control. The ECBs inflation target is an inflation rate close to, but below 2 per cent in the medium term. Currency issuance: the ECB has the exclusive right to issue euro banknotes and sets the guidelines for currency issuance by eurozone countries. Banking Supervision: the ECB also plays an important role in banking supervision. Together with the national supervisory authorities, it monitors the eurozones main banks to ensure the stability of the financial system. Open Market Operations: the ECB carries out open market operations, such as purchases and sales of securities, to influence liquidity conditions in the banking system and thus affect short-term interest rates. Economic Policymaking: although price stability is its main priority, the ECB also contributes to the formulation of the general economic policies of the European Union and the eurozone, in co-operation with other institutions. The ECB is led by the Governing Council, which is made up of the presidents of the central banks of the eurozone countries and the members of the ECBs Executive Board. The ECBs independence is fundamental to its ability to make monetary policy decisions based on economic analyses rather than political pressure. Is that clear? Read also: What is the Euribor rate? Find out , Home Loans: what is the Spread and how does it work?
Source: SUPERCASA Author: Redação Portugals Alentejo coast is a hidden treasure that offers a unique mix of beaches, cliffs and a rich cultural heritage. If youre planning to explore this region, SUPERCASA Notícias has some suggestions for excursions that will help you experience the best the Alentejo Coast has to offer: Paradise beaches The Costa Alentejana is famous for its golden sandy beaches and crystal-clear waters . Visit iconic beaches such as Praia do Carvalhal, Praia da Comporta and Praia de Odeceixe to enjoy a relaxing swim and stunning scenery. Rota Vicentina: Coastal Walks The Rota Vicentina offers stunning coastal trails that take you through dramatic cliffs , sand dunes and unspoilt natural landscapes. Walk the route to experience panoramic views and a deep connection with nature. Birdwatching The Alentejo Coast is a paradise for birdwatchers . The Sado Estuary Nature Reserve and Santo André Lagoon are popular spots for spotting seabirds and migratory birds in their natural habitat. Porto Covo Village: Coastal Charm Explore the charming village of Porto Covo, known for its whitewashed houses, quiet beaches and relaxed atmosphere. Stroll through the narrow streets, visit the Church of São Sebastião and take in the picturesque scenery. Sines Castle: Historical Heritage Visit Sines Castle, a historical landmark dating back to the 15th century. Explore the castle walls, the Sines Museum and enjoy the panoramic view of the city and the sea. Alentejo gastronomy Dont miss out on savouring authentic Alentejo cuisine. Try dishes such as lamb stew, migas, regional cheeses and Alentejo bread. Also enjoy the fresh and delicious seafood. Sunset on the cliffs End your walks with an unforgettable sunset on the cliffs of the Alentejo Coast. Find a quiet spot to enjoy the spectacular colours of the sky as the sun sets over the horizon. Always remember to respect the environment and follow local guidelines when visiting the Costa Alentejana. This region offers a unique experience of nature, culture and beauty that is sure to leave a lasting impression on your memory. And if you really like this place, why not take a look at some of the properties available on SUPERCASA ? Alentejo Farmhouse 2 bedrooms - 290.000€ Apartment 2 bedrooms + 1 - 798.000€ Apartment 1 bedroom +1 - 483.500€ Follow these and other suggestions in SUPERCASA Notícias
Source: Freepik Author: Redaction On the occasion of World Tourism Day, which is being celebrated today, 27 September, Pedro Costa Ferreira, President of APAVT (Portuguese Association of Travel and Tourism Agencies) says that the sector is once again [this year] driving the countrys growth and helping an old world, characterised by fear of differences, to modernise and bring people closer together , stressing that 2023 is shaping up to be a happy year . In the same context, Bernardo Trindade, President of the Hotel Association of Portugal (AHP) , commented that celebrating World Tourism Day is celebrating with more than five hundred thousand Portuguese who have decided to make a career in this activity. Celebrating this day is celebrating an activity that is absolutely instrumental in the recovery of our country, which is leading this recovery. These are extremely positive considerations, which go hand in hand with the sectors growth rate , with the WTTC (World Travel and Tourism Council) predicting that the travel and tourism sector in Portugal will be able to contribute 40.4 billion euros to the GDP (Gross Domestic Product) this year, surpassing the record of 40.1 billion euros recorded in 2019. According to the WTTCs Economic Impact Research Report (EIR), the sector could employ around 950,000 workers, with the creation of around 30,000 jobs this year , leaving only 68,000 jobs below the 2019 level. As for the sectors contribution to the countrys GDP, it is estimated that it will increase to 56.4 billion euros by the end of the year, representing 21.1 per cent of the Portuguese economy. And over the next decade, travel and tourism could even employ more than 1.2 million people nationwide , with one in four people having a job in the sector. Portugal: a sustainable tourist destination According to Nuno Fazenda, Secretary of State for Tourism, Trade and Services , only tourist destinations that invest in sustainability will be competitive , emphasising the need to affirm Portugal as a sustainable tourist destination. To make this happen, the Secretary of State guarantees: we have to look at tourism beyond tourism. Its much more than hotels, travel agencies and tourist entertainment, assuring that areas such as transport, sustainable construction, agri-food, protection of the coast, forests and biodiversity are extremely important. According to the outlook, Portugals results in the sector will continue to recover, albeit at a more moderate pace once the peak travelling season is over. However, on a global scale, it is confirmed that international tourism continues to recover from the effects of the pandemic, with positive results. Topics you can follow: Discover Lousã: explore the nature and history of this place , AL data confirms tourism growth in Portugal
Source: Freepik Author: Redaction The INE (National Statistics Institute) confirms an increase in the median value of the square metre in August, which reached €1,538, setting a new record compared to the increase in July . Despite the previous slowdown, the value of bank appraisals is once again accelerating. In year-on-year terms, the rate of change is 8.8 per cent, compared to 7.6 per cent in July. According to the statistical office, the most intense variation was seen in the Autonomous Region of Madeira, with 23.1 per cent, while the least significant was in the north, with 7.9 per cent. As for the monthly comparison, INE explains: all regions showed increases compared to the previous month except the Algarve (-0.6 per cent), with the most significant increase in the Autonomous Region of the Azores (5.6 per cent) . With regard to the number of bank appraisals, the figure stood at 24,600, which, according to INE, represents a decrease of 1.1 per cent compared to the previous period and a reduction of 6.3 per cent year-on-year . It can therefore be concluded that fewer people are asking for property valuations, while the value of the square metre is rising. The regions where the median value of the bank appraisal of housing is the highest are the Algarve, Área Metropolitana de Lisboa, Região Autónoma da Madeira and Alentejo: they had appraisal values 40.7 per cent, 33.6 per cent, 10.9 per cent and 5.1 per cent, respectively, higher than the countrys median. On the other hand, the lowest values were found in the North: Terras de Trás-os-Montes, Beiras e Serra da Estrela and Alto Alentejo were the regions with the lowest values in relation to the countrys median (-48.8%, -47.4% and 46.6% respectively) . Also read: Home loan portfolio has been falling for eight months , New moratorium on home loan interest: how does it work?
Source: Freepik Author: Redaction The cabeça de casal is the person appointed to represent and administer the estate of a deceased person during the process of dividing the assets among the heirs. According to articles 2079 et seq. of the Civil Code, the cabeça de casal is responsible for coordinating and managing the legal and administrative procedures related to the estate, ensuring that the assets are properly inventoried, valued and distributed among the heirs in accordance with the deceaseds will or the laws of succession in force. The head of the estate is usually chosen from among the heirs or appointed by a court if there is no agreement between them. Their responsibilities include: Legal representation: the head of the couple legally represents the estate in question and acts on behalf of the heirs in the division process. Inventorying assets: they are responsible for identifying, inventorying and valuing all the property and assets belonging to the estate, including property, bank accounts, vehicles, valuables, among others. Payment of debts and taxes: the head of the couple ensures that any outstanding debts of the deceased, as well as taxes related to the estate, are paid properly. Distribution of assets: they manage the distribution of assets among the heirs, as set out in the deceaseds will or in accordance with succession legislation. Legal documentation: the cabeça de casal handles the preparation and presentation of the legal documentation required to finalise the division process. Conflict resolution: in some cases, the cabeça de casal can also help resolve disputes or disagreements between the heirs during the division process. It is important to note that the exact responsibilities of the cabeça de casal may vary based on the laws and regulations in force, as well as the specific circumstances of each inheritance. In some situations, the assistance of a lawyer specialising in inheritance law can be useful to ensure that the division process is carried out properly and legally. Other suggested terms: What is Stamp Duty? Find out , What is an Undivided Inheritance? Find out all about it
Source: Freepik Author: Redaction Savills/Predibisa continues to be the leader in the placement of office space in Greater Porto , a position it has held since 2020, according to the information it sent in a statement to the SUPERCASA Notícias newsroom. This position is once again reinforced by this years growth indicators, ascertained by the contracting of 17,237 m² of space in the five main areas of the city (Baixa, Boavista, Oriental, Outros Porto and ZEP). These consolidation indicators for 2023 are the result of the overall take-up of 36,811 m² of space and the 40 operations carried out in the first half of the year, which also represent the recovery of business and the confidence of investors and companies in the northern region of Portugal. Savills/Predibisas continued growth forecasts until the end of the year add even more value to the take-up seen in demand for office space in the city of Porto , with 58,493 m² of total space let and 76 transactions in the previous year. In the 20/21 biennium, the consultancy reinforced its performance as a leader in the sector, during what was a scenario of uncertainty across all the main segments of activity, closing 2020 with 53,856 m² of total contracted area and a reduction of just 17% (11,125 m²) compared to 2019 (64,981m²). Greater Porto is increasingly strong in attracting companies, where the initiatives of its Chambers, developers and consultancies have boosted demand for modern, well-located offices, positioning itself as a destination and first choice for companies. The promotion of this type of synergy has attracted companies from various areas, thus strengthening the office market and boosting the local economy, concludes Paulo Silva, Head of Country at Savills. According to Graça Ribeiro da Cunha of Savills/Predibisa, who is responsible for the Offices & Retail market in the northern region: the Greater Porto area continues to have all the infrastructure and numerous solutions, with large office areas, suitable even for the current context of digital transformation of companies, which allows us to accompany and respond to this evolution in the property market. And he adds: in short, Portos high attractiveness in foreign markets will continue to boost the current dynamics sustained by various projects located in the Business District of Boavista and Baixa, among other strategic areas for the installation and expansion of companies in the region, linked to TMTs & Utilities; Business Services; Construction and Real Estate; Consultants and Lawyers; Pharmaceuticals and Health; Financial Services; Consumer Products; among Other Services. Follow this and other topics in SUPERCASA Notícias
Source: Freepik Author: Redaction AICCOPN sent SUPERCASA Notícias its housing statistics summary, with advanced production indicators showing that in the first seven months of the year, cement consumption on the domestic market totalled 2,308 thousand tonnes, which is stable year-on-year. With regard to municipal licensing , up to July there was a year-on-year reduction of 11.6% in the total number of licences issued for new construction or refurbishment work in residential buildings. As for the number of dwellings licensed for new construction, there was a year-on-year variation of +1.5 per cent, corresponding to a total of 18,973 dwellings. New mortgage loans totalled 10,662 million euros in July, an increase of 9.7% year-on-year. The implicit interest rate on mortgage loans rose by 2.97 percentage points to 3.88% in July. The median house valuation for bank loan purposes rose by 7.6 per cent year-on-year in July, as a result of variations of 7.8 per cent in flats and 4.9 per cent in houses. In the spotlight: Autonomous Region of the Azores In the Azores , the number of dwellings licensed for new construction in the twelve months ending in July totalled 551, down 10% on the 612 dwellings licensed in the previous twelve months. Of these, 17 per cent are studio or one-bedroom units, 32 per cent are two-bedroom units, 36 per cent are three-bedroom units and 15 per cent are four-bedroom units or higher. As for the bank valuation of housing, there was a year-on-year variation of 7% in July in this region. Also read: From 2018 to 2022 only 10 houses were sold for every 1 built , New housing construction rose 2.3% in July
Source: Freepik Author: Redaction The Bank of Portugal (BdP) released data this Wednesday on the housing loan portfolio, which has been on a downward trend for eight consecutive months. The stock of home loans held by Portuguese financial institutions has already fallen by more than one billion euros since the year began , and the outlook is for this to continue over the coming months, due to the current economic climate. At the end of August, housing loans totalled 99.2 billion euros, down 137 million from the previous month and the lowest figure since June 2022. The BdP explains that this trend is due to the increase in early amortisations and the slowdown in demand for home loans , as there is less demand for loans to buy a house. In addition, according to the bank , those who already have loans end up making repayments in order to mitigate the impact of rising interest rates , which in July were the highest in more than a decade at 4.24 per cent. On the banks side, this scenario is expected to continue in the coming months , with interest rates expected to reach their peak. On the other hand, the European Central Bank (ECB), which regulates these rates, predicts a period of pause for increases in the key interest rates, after the exponential rises experienced in recent months. As for consumer loans, they stabilised at 20.9 billion euros in August , while corporate loans fell by 500 million in the same month to 73.2 billion euros. Follow other current affairs in SUPERCASA Notícias : Government promises to review criteria for access to rent support , Tourism could contribute more than 40M€ to Portugals GDP
Source: Freepik Author: Redação In the second quarter of 2023 there were 422 residential sales above 10 million dollars in the 12 cities analysed by the Knight Frank Global Super-Prime Intelligence Report (Dubai, Geneva, Hong Kong, London, Los Angeles, Miami, New York, Orange County, Palm Beach, Paris, Singapore and Sydney). This figure was 11% below the 475 sales recorded in the first quarter of this year and 13% below the 483 made in the second quarter of 2022 , according to the information that the real estate consultancy specialising in the luxury segment sent in a statement to the SUPERCASA Notícias newsroom. The rise in interest rates has had an impact on all levels of the global property market, and the luxury segment is not immune either. Even so, there were 1,638 global sales in the 12 months to June this year, far above the figures seen before the pandemic (1,009 in 2019). Despite the year-on-year decline in global sales , four markets recorded an increase in sales volumes, a top led by Dubai (up 79 per cent between Q2 2022 and Q2 2023), Sydney (up 46 per cent), Paris (up 17 per cent) and Geneva (up 7 per cent). The biggest falls over the year were seen in the main US markets, led by Los Angeles with a drop of 63 per cent. Although no region in Portugal is on this list, the so-called super-prime market, which includes property sales above 10 million euros, has seen increasing demand. Francisco Quintela, of Quintela + Penalva, Knight Franks partner in Portugal since 2021, explains why: the market with tickets above 10 million is considered a niche market in Portugal, but with consistent and increasingly refined demand, particularly for exceptional or collectors properties, as we like to call them, and in areas such as Comporta and Quinta do Lago, but also in Lisbon, where Quinta da Marinha is an excellent example of consolidation and interest from international clients . Alex Koch de Gooreynd, responsible for the Swiss, Austrian and Portuguese markets at Knight Frank, considers that although the Portuguese super-prime market is still in its infancy, we are now seeing a steady flow of transactions in the Quinta do Lago market with prices in excess of 10 million euros. This is driven by an increasing number of buyers choosing to spend a greater part of their time in these properties. This trend towards co-primary residency, observed in similar markets, together with the improvement in construction quality over the last decade, is contributing to this market continuing to be a super-prime destination. The Algarve has been leading the way in the supply of new construction presented to the market in immaculate condition, so I firmly believe that it wont be long before our first ultra-prime deal [markets where there have been at least three transactions in excess of 25 million dollars per year in the last three years] is realised . Liam Bailey, global head of research at Knight Frank , made the following comment in a note to which SUPERCASA Notícias has had access: Sales of prime property worldwide have fallen back from recent highs, but continue to exceed pre-pandemic levels. Dubai continues to lead the pack, but London and New York continue to record healthy volumes. The biggest constraint in most markets in the short term is supply - the lack of new developments starting between 2020 and 2022 means a lean 2024 for new deliveries, pointing to increased competition for available stock. Total sales volumes in the second quarter of 2023 totalled 7.3 billion dollars in the 12 markets. Dubai leads the way with a total volume of 1.5 billion dollars , with London and New York also recording sales in excess of 1 billion dollars. Total sales in the 12 months to June this year, in all the markets analysed, were below 30 billion dollars, lower than the peak of 40.7 billion dollars recorded in 2021, but well ahead of the pre-pandemic figures of 18.6 billion dollars in 2019. In the US, New Yorks super-prime market (above 10 million dollars) showed greater resilience thanks to a substantial presence of cash buyers. In addition, the second quarter saw an increase in demand from wealthy families buying property for their children to use during their school years. Also in New York, the launch of several high-end Branded Residence projects contributed to an increase in sales volume. Miami, on the other hand, is facing a different challenge, struggling with a severe shortage of prime property. As far as Asia is concerned, Singapores prime property market is suffering a reduction in sales volume due to high purchase taxes , which in some cases are as high as 60 per cent for foreign buyers. In Hong Kong, demand for luxury has received a boost from mainland buyers, who had been largely absent from the market between 2020 and 2022. There is potential for an increase in demand, however, the main obstacle lies in the limited supply of prime homes . Sydneys super-prime market recorded strong sales in the last quarter, driven by a rapid increase in demand, partly from Asia but also from domestic buyers. Given the limited supply, buyers are actively seeking off-market opportunities to reduce competition. There is a shortage of prime buildings in the pipeline, indicating that the supply shortage is likely to persist. Looking at the European continent, the London market has remained relatively robust throughout 2023, although it has slowed down compared to the levels seen in 2021. Other Property Market topics you can follow: Private Luxury Real Estate is looking to recruit 20 consultants , Property slowdown generates tax losses for local authorities or Artificial Intelligence and the Future of the Property Market
Source: Freepik Author: Redação The decision to build a house has advantages and disadvantages, however, it is generally more beneficial than actually buying a property, as you will have more autonomy to decide exactly how you want the development projects to be done. Everything will depend on your individual needs , but it will be important to take into account the costs associated with this choice. With new concepts such as sustainable construction, building a property today is a choice more geared towards making the most of materials and, in the long term, effectively saving on maintenance and energy costs. So that you can make the decision that best suits you, your needs and your wallet, SUPERCASA Notícias has listed below the expenses you should expect to incur during the process. What are the specifications? It is an essential document during the construction process that describes all the projects requirements and specifications in detail. It serves as a guide for the builder and all parties involved in the process. Some of the most important points that should be included in this booklet are: - Identification of the project; - General description; - Reference documents (such as drawings, architectural plans or regulations); - Technical specifications (including foundations, structures, walls, materials, finishes, equipment, electrical and sanitary installations, landscaping or types of structures); - Deadlines; - Budget; - Health and safety; - Amendments; - Signature of owner and builder. With this document you will avoid possible conflicts that may arise during the course of the work, as well as guaranteeing the quality and smooth running of the project, within the established deadlines and budgets. Buying the land and drawing up the project Before you even think about developing the project, its essential to know the space where the construction will take place, as this is a major factor. You should therefore make sure that the site is eligible for construction, assessing the areas and possible unforeseen problems associated with the land that could cause your budget to slip. Take the following factors into account: - Location and area , as prices will differ depending on the geographical area youre in, depending on whether its coastal or inland or whether or not its close to major urban centres and other accessibility. - Allotments , as allotted land already has infrastructure that can be essential for building the property, such as plumbing and electricity, saving you the expense of this. As for the project, in order to proceed with the licence, you must apply to the town hall of the municipality where you are going to build . At this stage you should hire a specialised professional, such as an architect , who will be responsible for preliminary studies, licensing, architectural and engineering projects, energy and other certifications, and execution projects. Building licences, permits and land preparation Once all the prior licences and preparations have been duly secured, the next step is to apply to the town hall for a building licence to authorise the work, and then apply for the respective permit. These licences and certificates cost between 2,500 and 4,000 euros. Once you have all these authorisations, its important to start preparing the land, ensuring that all interventions are taken care of, such as earthworks, levelling, drainage or other manoeuvres. To do this, once again, you should hire a professional. Construction process, inspections and permits and utilisation Construction costs should include building work and materials to be used , as well as water or electricity connections, site inspections or police and security, where necessary. As for the construction process, this must be carried out by a specialised professional, taking into account the step-by-step design , which involves structures and foundations , masonry and metalwork , roofing , electrical installations and plumbing and hydraulic systems . Once these interventions have been carried out, you will move on to the interior finishes, exterior finishes , carpentry and insulation and ventilation . Once all these stages have been completed, your property should be ready to move into. However, before you move in, i ts essential to have the property inspected, which you should again request from your town hall, which will issue you with a licence to use the property. At this stage, the average cost is €250. Building a house can be the most viable option for those looking for a totally idealised home , and the advantages of this process include personalisation , high energy efficiency , low initial maintenance and controlled initial costs . However, it also has some disadvantages, such as time and effort and financial risks. So if you want to opt for the simpler option and buy a property, go to SUPERCASA and make your enquiry!
Source: Freepik Author: Redaction Whether in the colder or warmer seasons, a terrace can be one of the most used parts of the house , bringing together a number of advantages for better utilisation of spaces. Being able to enjoy the outdoors together with family and friends is perhaps one of the greatest, but in winter, for example, the terrace can also serve as a shelter , which is a huge asset that can even increase the value of your property . Fixed roof terrace Advantages of this type of terrace: Versatility: this is one of the greatest advantages of this type of roof, as it has no space limitations; Suitable for cold and wet climates: as it is more resistant, it is more suitable for cold and rainy climates; Aesthetics: there is a wide variety of possible designs and materials for construction, so you can choose the roof that best suits your preferences; The big disadvantage is that, unless it is a glazed structure, it may not let in much natural light. Terraces with movable roofs Advantages: Natural lighting: this is one of the great advantages of this roof format, especially when compared to fixed structures, since you can choose the degree of natural lighting you want; Flexibility: you can open and close the roof whenever you want, allowing a greater variety of purposes for your terrace. This advantage complements the one mentioned above; Disadvantages: Maintenance: mobile roofs require more maintenance than fixed roofs and can stop working properly. You should therefore have them checked regularly; Price: these canopies are generally more expensive than fixed canopies and require more maintenance, with a higher initial and recurring investment; Aesthetics: these roofs dont come in a wide variety of materials and designs; Aspects to consider when installing Although the terrace is part of your home, making it your own, you should bear in mind that there are various applicable laws that may prevent you from installing the roof. Therefore, before proceeding with the work, make sure you have written authorisation from the condominium . Although the flat is yours, the building belongs to the condominium collective, which means that everyone owns the common parts of the building , such as the façade, lifts, columns, roofs, terraces and the like. If you carry out any work that aims to alter the aesthetics of the building and the original architectural line, you need to notify the condominium in advance so that it can request and receive your authorisation. If, despite not having the condominiums authorisation, you go ahead with the work and it is visible from outside the building and alters its appearance, the condominium can take legal action against you, which will lead to the works being stopped and what has already been done being demolished. How can you carry out your work without harming the neighbourhood? Always try to maintain a good relationship with your neighbours , as this is not only important for maintaining a good atmosphere in the building , but also for making it easier to obtain permits to carry out your work . To maintain a good relationship with your neighbours during construction work, here are some tips: Comply with the General Noise Regulation: according to this regulation, works that may cause a noise nuisance must be carried out during working days, between 8.00 and 20.00. Try to avoid breaking this regulation so that your neighbours dont call the authorities. Anyone who breaks this regulation will be fined. Keep passageways clear: its important not to leave building materials untidy on the stairs or at the entrance to the building. Try not to block the passage of your neighbours, especially the elderly or those with walking difficulties. Remember that common areas are used by everyone. Keep the place clean: when the work is finished, leave everything clean, especially the communal areas. Other tips from SUPERCASA Notícias : Urban gardens: create one at home , Modernise your homes façade with our tips or Do you have a swimming pool at home? See how to clean it effectively
Source: Freepik Author: Redaction IMT (Imposto Municipal sobre Transmissões Onerosas de Imóveis) is a tax that, as the name suggests, is applied to onerous property transfers , i.e. situations in which the purchase and sale of new or used property located in Portugal takes place. This tax is levied on the value of the property transaction and is paid by the buyer of the property. Who is obliged to pay IMT? Payment of IMT is compulsory whenever a property is purchased for own and permanent habitation , with a sale value of more than €97,064 in mainland Portugal and more than €121,330 in the Autonomous Regions. In addition, it is compulsory if a promissory contract of sale has been signed, in which the future buyer verifies the possibility of transferring their contractual position to another person. In the case of a property exchange, i.e. the exchange of properties between two owners, once the differences in value have been settled, it is also the owners responsibility to pay the amount of IMT that relates to the value of the two properties exchanged. Another situation where IMT must be paid relates to inheritances , and one of the tax costs associated with the benefit of this situation is applied to the excess of the share belonging to the acquirer in the immovable property in the act of division or partition. Thus, if one of the heirs receives a larger share of the inheritance, the difference in value is subject to IMT. As for rental contracts, IMT must be paid if the property becomes the property of the tenant or if the rental contract was signed more than 30 years ago. How is IMT calculated? The calculation of IMT is based on the purchase price of the property , which is also influenced by some specific characteristics of the property, such as its type, the purpose of the purchase (own permanent home, secondary home, investment or rental) and its location, depending on whether it is on the mainland or in the Autonomous Regions. IMT is calculated using a table of progressive brackets, stipulated by the Tax Authority, where the tax rate increases as the value of the property rises. You can find the rates in force in article 17 of the IMT Code, and the tax value to be multiplied, depending on the rate of the bracket you fall into, can range from 1% to 8%. The IMT brackets and rates can vary over time according to the governments tax policies. Generally, the IMT table is divided into brackets with different rates, with the first brackets usually having lower rates and the last brackets having higher rates. Its important to remember that there are situations in which IMT can be reduced or even exempted , as is the case with the purchase of property intended for own and permanent habitation, provided that the buyer fulfils certain requirements . To calculate the amount to pay in IMT, you need to take into account the value of the property, the IMT rate corresponding to the bracket in which the value falls, and any tax benefits that may apply. It is advisable to check the current IMT table and consult the tax office or a qualified professional for up-to-date and accurate information on calculating IMT, as information can vary over time. How is IMT paid? In order to pay the tax, you need to identify the buyers and sellers, the description of the property and the value of the transfer and it must be paid before the deed of sale is drawn up , upon presentation of the respective proof of payment. Once you have all these documents, you must fill in the payment slip, which corresponds to Model 1 (IMT) , at the tax office or via the Finance Portal. Are you clear? Read also: What is Stamp Duty? Find out , Buying a house: What taxes do you have to pay?
Source: SUPERCASA Author: Redaction If youre buying your first property or are thinking of moving house, youll find great finds here! SUPERCASA accompanies you in this process, showing you the great opportunities on the market, which you can see in this article. Today we bring you properties in the cities of Albufeira , Torres Vedras and Oliveira de Azeméis . Take a look at our suggestions: Albufeira 2 bedroom flat - 430.000€ House T3+1 - 695.000€ 3 bedroom detached house - 750.000€ Torres Vedras Villa T4 Duplex - 475.000€ 3 debroom duplex flat - 390.000€ House T3 - 420.000€ Oliveira de Azeméis Villa T4 - 220.000€ House T4 - 690.000€ House T3 Triplex - 680.000€ Follow this weekly feature and continue to see all the properties available for sale or rent on SUPERCASA