Source: Freepik Author: Redaction If you have a home loan it is important to be aware of how mortgages work and everything that involves this guarantee to the bank, which can be canceled in three different situations . Through the mortgage, it ensures the payment of the housing credit that it has with your bank or financial institution, even if it defaults, since the mortgaged asset serves as a guarantee to pay the debt . But we explain everything to you in greater detail. What is a mortgage? When you buy a home using mortgage credit, you can take out a mortgage to ensure that the money the bank has lent you will be paid. In other words, it is a guarantee . Your financial capacity is assessed at this time in order to understand whether or not you will be able to repay the loan you want to borrow. Thus, the mortgage serves to minimize the risk of default, which is usually the property to acquire. However, it can be mortgaged, too, the property of a third person, and there are banks that accept the mortgage of the borrower’s family home. In short, the mortgage is the guarantor of financing for the purchase of a property, which allows buyers to pay the value of the property over a period of several years. In what situations can the mortgage be cancelled? The scenarios that may involve the cancellation of the mortgage are the sale of a property registered with a mortgage, the payment of the mortgage debt or a situation of foreclosure. Discover each of these situations. When you sell a house with a mortgage When buying a house with the financing of the bank, through a housing loan, you can see, in the future, with the sale of the same property. In this situation, where you sell the property that the bank is paying for, you can effectively cancel the mortgage. In this situation, it can only do so if the money acquired with the sale of the property is sufficient to pay the loan contracted , and must request, for this purpose, the cancellation of the mortgage and proceed to the registration of the sale of the house to the new buyer. When you pay the mortgage debt When you manage to settle the mortgage debt, you can ask for the cancellation of the mortgage, because if you have paid your debt, you no longer need to provide any guarantee. After eliminating the mortgage, you must cancel your registration in a Land Registry and, after having your mortgage loan fully paid, the bank sends you a document confirming the cancellation of this guarantee. In this situation, your contract obligations are fully fulfilled. The document that the bank will send you is called a mortgage . When you expunge the mortgage on the property you bought It can happen to buy a house with a mortgage, and it is possible to cancel it after the acquisition . The law says that the new owner of the mortgaged house can proceed to this cancellation, however, only through a judicial process. Thus, if you have bought a property recently, and it is mortgaged, after registration the purchase will not be responsible for the payment of the previous mortgage. In this situation, you must inform the creditors of the procedure, completely pay all the debts associated with the mortgage or reach a payment agreement with the creditors, which may involve the payment of an amount equal to the value of the purchase of the property. After these procedures, you must file a lawsuit with the court, proving that everything went well. Have you been clear about this? Follow SUPERCASA Notícias for more topics like this and, if you still have questions about how you can sell your home, we advise you to read Formalize the sale of a property: what are the bureaucracies
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 If you have not done so, know that you have until next Sunday to donate 0.5% of your IRS collection to an entity of your choice , such as kindergartens, victim support associations, social institutions, volunteer firefighters or homes. The list, which can be consulted on the website of the Tax and Customs Authority, includes 5,037 entities. This IRS consignment takes place every year before the filing of the declaration, which begins as of next Monday, April 1, without any impact on its reimbursement. So, if you are thinking of donating this portion of your IRS, you only have to point out the NIF of the entity to which you want to make the consignment, fill out your IRS declaration 2024 in the Finance Portal and select the option Consignment of 0.5% IRS , selected, then the type of beneficiary entity and the NIF of the entity. Then, just select the IRS option. You can also pay VAT by selecting the IRS option, however, this already impacts your refund. What is the 0.5% IRS consignment? This is a mechanism that aims to help and support entities with an active and relevant role in the community in which they operate . Through this consignment, they can obtain funding for their actions, with the money donated to be removed from the tax due to the State, without any impact to the taxpayer. The consignment of VAT, on the other hand, already implies that the taxpayer abdicates part of his refund , which would eventually be paid by the tax authorities. It is important to note that this consignment should be made until March 31 for taxpayers who are covered by the automatic IRS and who wish to change or add the consignment to an entity of their choice, because if they do not do so, the provisional declaration developed by the Tax Authorities becomes definitive. And remember: the delivery of the IRS statement starts already on April 1, next Monday, having until June 30 to make the submission. The IRS refund will be paid by the State until the end of July. Keep abreast: Natural Gas Social Tariff: 3.1% discount will remain , Public Administrations achieved positive balance in 2023 and Change of time occurs next Easter Sunday
Source: Pexels Author: Redaction Homefullness is a growing trend in the world of interior design, and it can completely transform the way they are felt and recognized the sensations provoked by the environment of the house where they live. It is a concept that starts from the adaptation between well-being and decoration, aiming to generate feelings of tranquility and balance. And today, in order to transform your home based on this concept, SUPERCASA brings you everything you need to know. What does Homefullness presuppose? The main premise of this concept is organization. Harmony , order and organization are key factors to achieve homefullness in your home, with tricks that, although simple at first glance, can take some time to internalize in your daily life , especially if you live with animals and/ or children. Keeping spaces in order is more difficult than one would expect, however, you can adopt some techniques to maintain visual order, that is, the order you see at first sight. Simple tips to achieve homefullness We know that in the rush of everyday life, especially if you live with other people, it may not be simple to achieve all the goals we propose here, but there are techniques that can help you unravel the order behind the chaos. 1. Decompose and dispose of what you no longer use A harmonious house presupposes serene spaces without great visual confusion , which offer space to relax. Here, to help you in this goal, it is important that you look around you, in the various rooms of your home, and realize exactly what are the elements that cause you anxiety, a sense of disorganization and that make your room seem tighter. These are the objects to be disposed of, if they have nothing to add to your well-being. Simplifying the decor of your home will help you achieve the feeling of homefullness, believing that less is more, and a house with less junk will make you feel more comfortable. 2. Connect with natural elements One of the strategies that can help you achieve an interior harmony with the spaces of your home is through the use of natural elements, such as plants that can spread around your home, in strategic places. Invest in these decorative elements and also make sure, if you have a garden, that it is well maintained and you want to spend more time outdoors. 3. Create sacred spaces An organized life also presupposes taking time for yourself. For this, it is essential that there are, in your home, sacred spaces where you practice your well-being and meet with yourself , either to read a book, listen to music or simply take a nap. Surround yourself with calm and relaxing elements, such as those plants we mentioned above, aromatic candles and neutral colors. The truth is that homefullness may not be for everyone , but it is certainly a step towards a more peaceful and relaxed life, even for the most disorganized. And if you can not put into practice all the advice, the important thing is that you feel good about the space you created for yourself, in your home. Stay for more Lifestyle tips with SUPERCASA Notícias . Find out which pieces to use in the decoration of your kitchen , Discover the 5 most contracted household services in 2023 or Transform your home without spending much money
Source: Freepik Author: Redaction The Municipality of Évora has included in its Local Housing Strategy a project aimed at the construction of a new neighborhood, which will be renovated through the demolition of what currently exists there , provisional for several decades in the municipality, and where about 70 families reside. This is a project for which 26 million euros are allocated. Carlos Pinto Sá, Mayor of the municipality, indicates that the subdivision architecture project has already been approved and should proceed to be launched, after the infrastructures are executed, the tender for the works: We will make every effort so that, during this year, the competition for works can be launched, says the mayor. Contemplated in the Local Housing Strategy of Évora, this is one of the projects contracted with the Government and foresees an investment of 63 million euros with the Financing of the Recovery and Resilience Plan (PRR). The objective of this intervention, according to the municipality, goes through the rehabilitation of the neighborhood , which is located next to one of the main roads of the city, finding itself very degraded . It is a provisional area, which should have been outdated for many years. Bairro Escurinho has about 70 families to live in, some of them own the lots, and we decided to move forward, not with a rehabilitation, but in practical terms, with the construction of a new neighborhood , explains Carlos Pinto Sá. Thus, the current housing will all be demolished to give rise to 122 new fires with dignified conditions, allowing rehousing the current residents who want to continue there and accommodate new ones. In this sense, the current residents will be rehoused temporarily while the works are done . In addition to this project, one of the subdivision architecture was also approved for the construction of 40 fires in a plot of land in the Moinho neighborhood, and it also integrates the Local Housing Strategy of Évora, for which an investment of 5 million euros is allocated. Follow also: AHETA wants to build social housing to capture labor , Government approves use of € 1.5 million for works in the Lisbon Metro and Social tariff of natural gas: discount of 3.1% will remain
Source: Freepik Author: Redaction In January 2024, cement consumption on the domestic market totalled 339,000 tonnes, a year-on-year increase of 23.6%, according to the housing statistics summary sent by AICCOPN to SUPERCASA Notícias . With regard to municipal licences for new construction or refurbishment of residential buildings, there was a reduction of 6.5 per cent compared to the same month last year . As for the number of dwellings licensed for new construction, there was also a year-on-year decrease, with a variation of -16.4 per cent, for a total of 2,394 dwellings. In January, there was a year-on-year increase of 24.7% in the volume of new mortgage loans , excluding renegotiations, granted by financial institutions, which totalled 1,184 million euros. The implicit interest rate on mortgage loans stood at 4.66% that month, an increase of 2.47 percentage points on the same month last year. With regard to the median value of housing valuations for the purposes of bank loans, January saw an increase of 4.4 per cent year-on-year, as a result of variations of 3.2 per cent in flats and 6.1 per cent in houses. Centre region in the spotlight In the Centre Region, the number of dwellings licensed for new construction in the twelve months ending in January 2024 was 4,321, an increase of 17.1% on the 3,723 dwellings licensed in the previous twelve months. Of these, 13 per cent are studio or one-bedroom units, 26 per cent are two-bedroom units, 47 per cent are three-bedroom units and 14 per cent are four-bedroom units or higher. As for the bank valuation of housing, there was a year-on-year variation of 3.8 per cent in this region in January. Follow more topics like this in SUPERCASA Notícias
Source: Freepik Author: Redaction Last year was economically difficult not only for the Portuguese but also for most Europeans. The rise in prices, especially in the food sector, and the fall in purchasing power have forced people to adjust their budgets , as evidenced by the results of the European Barometer carried out by Cetelem - a commercial brand of the BNP Paribas Personal Finance group, sent in a statement to the SUPERCASA Notícias newsroom. With 66% of Portuguese saying that food expenditure has increased, there has been a change in peoples consumption habits and behaviour. 30 per cent have had to limit or even forgo spending on food due to lack of financial means. 44 per cent also claim to have given up certain products, such as meat or fish, and to buy fewer environmentally friendly products (46 per cent) , such as organic products. A further 29 per cent said they had eaten out less. In this context, the Portuguese also indicate that they are paying more attention to their food budget (84 per cent) and avoiding food waste (90 per cent). When it comes to shopping, 91 per cent of those surveyed say they are increasingly taking advantage of promotions and special offers and opting to buy products from cheaper brands (83 per cent). More than half of Europeans have stopped buying meat or fish The results of the study cut across all the countries that took part in the survey. More than half of Europeans (55 per cent) have stopped buying meat or fish in order to control spending on food. In addition, 42 per cent of European households have been forced to eat out less. Also, 81 per cent of European respondents say that they are taking greater advantage of promotions and low prices in order to save money this year. This trend is reflected in the market share of food retailers. But this category also includes reducing waste as much as possible (83 per cent), sticking to a budget (77 per cent) and, of course, switching to low-cost and hard-discount brands (58 per cent). Giving up organic products (49 per cent) is also part of this strategy, as is giving up meat or fish (47 per cent) and eating out less (35 per cent). These are some of the ways Europeans have found to make ends meet. Since, as the same survey has already revealed, other increases were felt, particularly in energy bills (66 per cent) and transport (52 per cent) last year. Household and personal goods were also affected, with rates of 54 per cent for clothing and footwear, and 52 per cent for furniture, household appliances, television and smartphones. If youre interested in following more current affairs topics like this, go to SUPERCASA Notícias and explore the available content.
Source: Freepik Author: Redaction Several cases of property scams have been reported in recent months. Unmissable offers, adverts that are too good to be true and the lack of knowledge of people looking for a home have led thousands of people to be duped by fraudsters, who devise fraudulent schemes and deceive the most unwary. The most common scams have been bogus rental offers , especially short-term ones. So, as we approach a holiday period in which many Portuguese travel around the country and look for affordable housing where they can spend a few relaxing days, SUPERCASA Notícias brings you a set of tips that can help you recognise potentially misleading advertisements and prevent your holiday from turning into a headache. Opt for the most recognised real estate portals Dont browse a marketplace where there is no guarantee that fraudulent adverts will be avoided. It can be common to try to find houses to rent on social networks or sales platforms, where youll find adverts of all kinds and shapes. Generally, these sites have little control and do not guarantee regular monitoring of possible fraudulent adverts, so the recommendation is to look for houses on property portals that have a reputation in the market and that you can trust. An excellent option is CASA SAPO , a national property portal that has been around for over 20 years and offers not only houses to buy, but also short-term rentals. On this portal, youll find professional adverts, with greater rigour and security, and you wont be fooled so easily. SUPERCASA also offers this security. Be wary of adverts that are too good to be true We know it can be difficult, because there are adverts that are, in fact, great investments. However, were talking specifically about adverts that, at first glance, might raise a little suspicion. Were talking about very appealing properties with prices below market value , for example, which is often the bait used by fraudsters to attract the attention of potential investors . And then, be suspicious if, when you try to book a viewing, you are asked for some kind of down payment or fee to ensure this procedure , and never accept these terms, not least because it is an illegal practice and that is the first red flag. If you feel pressurised by the advertiser, you should probably be suspicious If you have expressed an interest in a fraudulent advert, the most common thing is that the person behind the advert will try to pressure you with requests for information, demand a small entrance fee to visit the property, or be redundant in scheduling a visit to the property. These are all situations to be wary of. If you feel pressurised, its most likely a case of fraud and you should be suspicious . Check the information you are given and demand documentation associated with the property To try to detect any fraudulent situation, and if you are genuinely interested in the property, you can always ask for the information and documentation associated with the property . If its a genuine advert, the advertiser will have no problem providing you with this information and documentation, as their interest is in selling or trading the property and facilitating the process. On the other hand, if its a fraudulent situation, the advertiser will most likely be reluctant to co-operate and wont provide you with the documents - or if they do, they may be false and youll need to check them carefully - and may even demand a fee to give you access to the information. It is important that at no point do you transfer money to the person without first confirming their identity and legitimacy . You can do this on the Online Land Registry platform , where you get the propertys permanent certificate, confirming your ownership. And then, if you make any payments, make sure you do so via traceable means, such as bank transfers. Protect yourself from fraud! SUPERCASA is a property portal committed to detecting and reporting fraudulent adverts , but it cannot be held responsible for the decisions made by buyers. Keep an eye on the tips weve given you today and make your search for homes to buy or rent safe and secure.
Source: Pexels Author: Redaction Banco de Portugal released on Wednesday, March 27, data on bank profits, which increased by 80% in 2022 compared to 2023. According to the bank, the banks in Portugal were able to make EUR 5.6 billion last year as a result of rising interest rates. This is already a historic result for the sector. The five largest Portuguese banking institutions, which include Caixa Geral de Depósitos (CGD), BCP, Santander, BPI and Novobanco, managed to reach 4.4 billion euros in profits last year, 78% of the result obtained by the entire national banking system. Thus, the profitability of the sector almost doubled as a result of the increase in profits , from 8.7% in 2022 to 14.8% in 2023, compared to equity, and there were banks exceeding 20%, namely Caixa, Santander and Novobanco. As for the profitability of assets , that is, the level of profits as a function of assets, this doubled from 0.69% to almost 1.3% , with the sector operating an asset of 422.2 billion euros. Read also: Older companies have higher turnover , ECB warns of risks with bad loans
Source: Freepik Author: Redaction The luxury residential market in Portugal continues to grow, with the Algarve, Porto and Lisbon highlighted. These findings are in The Wealth Report , an annual study by consultant Knight Frank, a partner of real estate firm Quintela and Penalva since 2021, which also reveals that one million euros gives only to buy 67 m 2 in Quinta do Lago, while with the same value it is possible to acquire 110 m 2 in Barcelona or 90 m 2 in Lake Como, Italy. The study, sent in a statement to SUPERCASA Notícias , shows that the Algarve is in the top 5 of the world markets in the luxury residential sector, where prices performed best in 2023. According to the study, among the top 100 destinations in the world in terms of price appreciation in 2023, the Algarve appears in fourth position, with a price increase of 12.3%, o nly behind destinations such as Manila (Philippines, 26.3%), Dubai (United Arab Emirates, 15.9%) and Bahamas (15%). With one million dollars, it is possible to buy in Quinta do Lago, in the Algarve, a luxury residence second home with 67 square meters (m 2 ), while with the same value it is possible to acquire 110 m 2 in Barcelona, Spain, or about 90 m 2 in Lake Como, in Italy. The lack of supply and the unique character of Quinta do Lago, explain the sharp growth in prices. Lisbon and Porto continue to grow In the list of cities and regions with annual growth in stable or positive prices are the cities of Lisbon and Porto . The two cities remain on positive ground, with growth in the order of 2.2% and 5%, respectively. Thus, Porto appears in 29th position , ahead of, São Paulo, Rome, Barcelona, Milan or Paris. Already Lisbon, is in 60th place, and surpasses cities such as Dublin, Vienna, Tokyo, Berlin or New York. The Knight Frank study also reveals that the price of luxury real estate in Lisbon is still expected to grow in 2024, in the order of 2.5%, being preceded by Seoul, South Korea, Zurich, New York or Paris. For Francisco Quintela, CEO of Quintela e Penalva, Knight Frank’s partner in Portugal , Lisbon remains on the radar and is in the top 10 of the survey in terms of location for new buyers, as stated in The Wealth Report. The forecast for growth in luxury prices in Lisbon remains very significant, as demand remains very strong in the luxury housing market, particularly in Lisbon, Cascais and Comporta, where the demand for luxury properties has increased significantly . He adds that this reality is mostly corroborated by the interest and realization of business by foreign investors, with high investment capacity. According to The Wealth Report, which tracks the performance of luxury properties in 100 key locations (including cities, sun and ski destinations), 80 locations experienced stable or positive annual price growth. Manila (26%) leads, but last year’s leader Dubai (16%) fell just one place. Asia-Pacific (3.8%) overtook the Americas (3.6%) to gain the title of best-performing world region, with Europe, the Middle East and Africa lagging behind (2.6%). As predicted last year, sunny locations continued to outperform, with an average increase of 4.7%, closely followed by ski resorts (3.3%) and cities (2.7%). According to Knight Frank’s The Wealth Report 2024, the number of UHNWIs in Portugal - those with a net worth of $30 million or more - will increase by 25%, reaching 1000 individuals by 2028. For Kate Everett-Allen, Head of International & Country Research at Knight Frank , in the note to which SUPERCASA Notícias had access, this fact, combined with the expectation that the ECB will start reducing rates in the summer, along with the recovery of the tourism sector in the country, will attract more second home owners and investors. It is thus expected that luxury prices will increase 2.5% in Lisbon in 2024. Follow more topics like this in SUPERCASA Notícias
Source: Freepik Author: Redaction Last Friday, March 22, Iberinform released data on the temporary work sector , which has seen solid growth in recent years. More than half of the companies were founded in the last five years, however, it is the oldest companies that have the highest turnover. The majority of temporary employment companies, 56%, were founded in the last five years, while 27% are between six and 15 years old. Only 11% were established 16 to 25 years ago, and 6% are over 25 years old. However, companies with more than 25 years lead in terms of turnover, representing 40% of the sector , says the consultant Iberinform. In this sense, the most recent companies (with two to five years), hold only 8% of the turnover of the sector , comparable to companies with 11 to 15 years. On the other hand, companies with 6 to 10 years represent 10% of turnover, and those with 16 to 25 years are responsible for the largest share of total turnover, 25%. It is micro and small companies that dominate the sector, with about 89% of temporary employment companies having this size, while only 9% correspond to medium-sized companies. Large companies account for 2% of the sector, however, in terms of turnover, microenterprises contribute only 1%, while small companies earn 23% and medium-sized 34%. Large companies, despite being only 2%, lead in terms of total turnover, with 42%, as highlighted by the data. In addition to these data, it was possible to conclude a significant concentration of temporary work companies in the main urban centers of the country , and the highest percentage, 36%, is located in Lisbon , followed by Porto , with 14%, Braga , with 10%, Setúbal , with 9%, and Santarém with 5%. There is thus a greater liquidity and financial health , since there is an improvement in the efficiency of the accounts payable management . For more related topics, read: 58% of entrepreneurs admit to having social and political concerns , Companies show signs of slowing in recruitment or Trend: fewer companies are born and more close in Portugal
Source: Freepik Author: Redaction According to the latest study by Condé Nast Johansens, entitled Luxury Holiday Habits, Portugal is considered the sixth favorite destination of tourists for luxury holidays . There are several tourism awards that our country has collected in recent times, continuing to build its reputation. The lifestyle reconciled with the beaches and landscapes of the Portuguese coast attract thousands of visitors every year, however, the bar is now raised by the recent study of the reference guide in the luxury travel sector, that places Portugal in the Top 10 of the most sought after countries for this type of tourism. Of the travelers who reported travelling outside the UK, Spain stands out as the preferred destination with 30 percent, then follows France (27 percent), Italy (19 percent), Greece and the United States (with 17 percent) . Portugal is in sixth position, with 16% preference. As it was possible to ascertain, the average income of tourists in the luxury segment is about 100 thousand euros per year, with the average expenditure per traveler around 8 thousand euros. Related: Cascais is recognized as Green Destination
Source: Pexels Author: Redaction The Algarve region has been affected by the lack of housing , particularly in the tourism sector, because there are no houses, there is no capture of labor . In this sense, the Association of Hotels and Tourist Developments of the Algarve (AHETA) warns of this situation, showing willingness to build social housing that houses the workers of the area. To this end, they are asking for land exchanges at more reasonable prices than those in the market, but there has never been a response from the Government, and Hélder Martins, President of AHETA, underlines: if today we have to import manpower, we can only really attract workers who come from outside if we give them housing, without that it is no longer possible. Thus, to encourage the capture of more manpower, hotels are willing to move forward with a model of simple construction, not for rich for social housing on the outskirts of the city, namely in Loulé, Albufeira and Portimão, in order to ensure accommodation, as well as transport for displaced workers. However, the President of the Intermunicipal Community of the Algarve (Amal), and also Mayor of Olhão, António Pina , reiterates that the municipalities do not have these lands to be made available , adding that, even if they had them, they would be allocated to the construction of public housing for the Algarvian, who cannot afford a house . Discover also: Overnight stays in tourism registered a slight decrease in January
Source: Freepik Author: Redaction The outgoing government of António Costa approved in March last year a project to expand the Metro Sul do Tejo that is now beginning to take shape, and the use of 1.65 million euros has been approved for the studies necessary for the development of the works, possible extension of the Almada metro lines to Costa da Caparica. According to the Lisbon Metro, the project aims to promote a quick and structuring link between the University Campus of the Faculty of Science and Technology of the New University of Lisbon and Costa da Caparica, extending into a corridor that will serve Trafaria, São João da Caparica, Quinta do Torrão, Quinta de Santo António and Costa da Caparica, ensuring a better connection of this territory to the current network of the Metro Sul do Tejo. And they justify: Metropolitano de Lisboa was the public entity chosen by the Government to carry out these works by the national and international experience it has in this field and given the nature of the project, the degree of complexity of the procedures inherent to the implementation of investments in public transport systems on own site (TCSP) of high capacity and the deadlines associated with financing under the Climate Action and Sustainability Program (PACS). In total, the work could cost around EUR 3.1 billion , having been considered a priority by the State, and hence be included in the PACS. More themes like this: Lisbon is the 18th city with the most population in the EU and Lisbon will compensate Lumiar in € 1.14M for cadastral error