Source: Freepik Author: Redaction Youth housing credit is a funding support provided by financial institutions to help young people aged 18-35 to buy a home. It is a very simple concept to understand, because it is a mortgage similar to traditional with small differences and special conditions, which can mean benefits for young people who want to take the step of buying a house. Moving forward with the purchase of a property today can mean huge charges that not all portfolios can handle, which is why there is a specific modality for the younger ones. How does youth housing credit work? It is important to keep in mind that if you are planning to proceed with a young housing loan application, take into account that there are criteria that you must meet to be eligible for this loan, namely the following. Initial input To begin with, before proceeding with an application with the bank, you should evaluate your available capital, because the higher the amount you are willing to give for the entrance to the house, the greater the probability of being assigned a financing. To get an approval, you must have up to 10% of the total sale value of the property, however, it is advisable that if you can and have this value, pay more to increase credit security. Effort rate Your effort rate can’t be high. This means that your home loan can not exceed 40% of the income you earn every month, keeping a balance of your accounts and monthly budget. This is a calculation that the bank will do for you, assessing your financial capacity to be able to ensure the payment of the credit installments. Safe work This factor has an influence on your financial stability, because with a safe job and a stable and regularized professional situation, you will have a better chance of seeing your credit application be approved. If you are effective is a point in favor, getting more confidence from the financial institution. Financial conditions In addition to a stable job, you must gather stable financial conditions, demonstrating that you do not have many charges to your responsibility, or that those you have are compatible with your request for funding. Guarantor A guarantor will intervene on your behalf, assuming the payment of the instalments, if you do not fulfill this obligation, and some banks exist this figure in order to ensure that the debt will be paid. Mixed, variable or fixed rate? How to choose Once you ask for your home loan and all eligibility criteria are assessed, you will be asked to select the type of rate you want for your loan. There are three: the mixed rate, the variable rate and the fixed rate. Mixed rate This rate works in two ways, and in the initial period of your credit, which may be 5, 10 or 15 years, you will have the fixed rate in force, and then the variable rate will be applied. It is then a type of tax that is intended, at an early stage, to help the borrower to organize himself financially during the early years. Variable rate The variable rate is calculated by the sum of the spread and the Euribor index, which will vary over the credit period. Therefore, the variable rate will be paid as the principal interest rates (Euribor) rise or fall, never knowing exactly what amount will pay in the future, as it is variable depending on the Euribor. Fixed Rate This is the safest rate for those who want to always pay the same amount of the instalment, being a rate that remains the same throughout the term of the loan. It usually has a higher value than the variable rate, however, it offers more security to the borrower, who will always know exactly when money has to be available to ensure the payment of the benefit. Concepts to retain Euribor (European Interbank Offered Rate): this is the Euribor interest rate, resulting from the average interest rates applied in the main banks and credit institutions of the euro area in the interbank market. It is the benchmark of the European market. Loan-to-value (LTV): this is the ratio that corresponds to the percentage that the bank can request in relation to the value of the property. Thus, a percentage that determines the value that the bank can lend, against the value of the property, and since no bank lends the entire value of the house, the LTV will vary according to whether it is a loan of greater or lesser risk to the financial institution. Effort rate: this is the rate that will represent the percentage of the total income of the borrower (or couple) that will be used to pay the credit. Thus, it helps to understand what is the available value of the income earned, to meet the expenses after the payment of benefits. Total amount charged to the consumer (MTIC): this acronym is what will let you know how much will cost you, exactly, the mortgage credit, corresponding to the total that you will have to pay for the credit by adding the amount of the loan with the costs of commissions, interest and taxes. Global Effective Anal Rate (APR): this is the rate that represents the entire credit charges, namely bank fees, registrations, taxes, among many others. Spread: this is the interest rate that is applied to credit agreements by the bank and represents its profit margin. What documents do you need to apply for a youth housing loan? • Citizen’s Card; • Receipts from the previous three months (or the most recent ones); • Statement of proof of the entity where you work; • Bank statement for the past few months; • Declaration of IRS. Guarantor: what you need to take into account Most likely you will be asked to elect someone as your guarantor, being this person committed to take responsibility for the payment of the debt if you incur in default of the credit agreement. Thus, your guarantor will be the bank guarantee for your credit, and may be required by the bank in the following situations: • if there is a risk of default; • if the stress rate is high; • When there is irregular credit history; • If you have an unstable financial situation. If the bank finds that your financial situation is stable, compliant and balanced, you can get a credit without needing a guarantor. However, you should always seek to obtain more than one credit simulation, from various banks and financial institutions , to understand which compensates the credit, and the values and rates may vary. We hope to have helped you and we are waiting for you in supercasa.pt to start the search for your future home!
Source: Freepik Author: Redaction Eurostat confirmed on Wednesday, April 17, the slowdown in the annual inflation rate of the Eurozone in March, which stood at 2.4%. In February, this rate had been 2.6%, which represents a drop of 0.2 percentage points. In the European Union (EU) the scenario was also one of fall, with the annual inflation rate going from 2.8% to 2.6%. According to the official European statistics office, annual inflation fell in 13 EU Member States compared to February , showing stability in four and rising in ten. For Portugal, the annual change in the harmonised consumer price index in March stood at 2.6%, similar to the EU average , and above the euro area average. Compared to February, this is also an increase. On the other hand , the lowest inflation rates in March were in Lithuania, with 0.4%, in Finland, with 0.6%, and in Denmark, with 0.8%. Romania, Croatia, Estonia and Austria had the highest inflation rates, with 6.7%, 4.9% and 4.1% in both countries, respectively. Read more: BdP reveals that bad loans are at a minimum , Insolvencies increased 19.5% in the 1st quarter of the year and Households in the Eurozone are saving more compared to 2022
Source: SUPERCASA Author: Redaction The Portuguese coastline is one of the richest geographical areas in Europe. Considered as the gateway to this continent, the coastline of our country offers a diverse and charismatic panoply of iconic locations, beaches that do not end and access to the great urban and cosmopolitan Portuguese centers. It is in the coastal strip that you find the best professional opportunities and the largest number of people of all ages, who maintain their proximity to the coast and to the rich Portuguese maritime heritage . You will find one of the most beautiful landscapes in Portugal, as well as a variety of extremely diverse species of fauna and flora, and a differentiating quality of life. If you are looking for a home and are committed to finding the perfect property for you and your family , SUPERCASA is the right property portal to find it! See the 8 options we have selected for you. House T3 in Argela, Viana do Castelo - 250.000€ Semi-detached house T3 + 1 in Lagoa, Algarve - 339.000€ House 3 Bedrooms in Peniche, Leiria - 389.000€ 2+1 bedroom apartment in Loulé, Algarve - 399.000€ Apartment T2 Duplex in Portimão, Algarve - 410.000€ 3 bedroom apartment in Nazaré, Leiria - 425.000€ House T3 Duplex in Caldas da Rainha, Leiria - 515.000€ House T2 Duplex in Vila do Bispo e Raposeira, Algarve - 595.000€ And if you liked these suggestions, you may also like the following: Looking for a house with terrace? 6 suggestions from SUPERCASA , Live 10 minutes from the beach? Realize this dream with SUPERCASA or Living by the sea: turn this dream into reality
Source: Freepik Author: Redaction There is a great concern in Portugal with the cleaning of land as a result of the great history of fires recorded in recent years. With climate factors that can cause risk situations, it is important to keep the land clean and cared for, making a fuel management that avoids devastating disasters. This is a responsibility of the owners contemplated in the law, and therefore, if it is not properly complied with, it may lead to large fines, because it is an essential process to avoid fires. If you own a plot of land with bush and want to fulfill your obligation, t his is the article you should read to ensure the rules, compliance deadlines and other bureaucracies that may cause doubts. When is the deadline for clearing the woods/ land? It is important to retain that you only have until April 30 to clear your land. Any owner, usufructuary, tenant or entity holding a land or forest inserted in a rural area are primarily responsible for the maintenance and cleaning of the space, having until April 30 to ensure it. If they do not, complaints can be made and the City Councils can take over the management of fuels in these properties , making the owner responsible for paying the respective expense. Thus, the owner is obliged to allow access to their land, and municipalities can use security forces to ensure that the work is performed. In this way, police forces can be called upon to intervene if there are impediments to proper cleaning. It is important to note that, if you know a situation of non-compliance, you have the duty to report it to the competent authorities, incurring negligence if you do not. Therefore, you should contact the City Council or GNR of your locality. Is there an inspection? Yes, and the Government even has to disclose the list of the most priority parishes where the fuel management assessment will be made, and which essentially consists of assessing whether the herbs have been cut, the bush, shrubs and trees trimmed and if there are no dangers to the buildings or settlements located on the peripheries. This inspection usually takes place during the month of May, from 1 to 31 May, where, initially, owners will be inspected as a priority, tenants, usufructuaries and other entities holding land in rural areas or with buildings on the periphery within a radius of 50 metres, but also agglomerations, industrial parks or campsites within a range of 100 metres. The second phase of the inspection takes place in June and is focused on road and rail networks, electric transmission and distribution lines, as well as natural gas transportation lines. At this stage, the inspection focuses on the Integrated Rural Fire Management System and will evaluate areas traditionally more affected by this type of disaster, with the main objective of preventing fires that occur , more commonly, in summer. If you own land or forest, know that it is already possible to consult the list of priority parishes, which this year are 991, and which correspond to about 30% of the entire Portuguese mainland . What are the consequences of non-compliance? It is important that, if the owner, usufructuary, lessee or entity holding a land, make a cleaning of it, not leaving out the cleaning near the poles and electricity cables or on the side tracks of the roads, railways or other existing tracks. It is important to clean in a 50-meter strip around buildings, if any, and do the proper cleaning at shipyards, warehouses, workshops, factories, housing or other equipment. If you do not, you may incur fines up to 5,000 euros for individuals and 25,000 euros for legal persons. Cleaning: how to do? In the cleaning phase, it is important to understand that this includes the cutting of herbs, shrubs, bush and other plant materials that exist around buildings inserted in rural or forest areas, as well as the cutting of branches of trees that are located up to four meters above the ground, or trees that are eight meters or more, or up to 50% of the height if they are less than eight meters. It is foreseen in the clearing of land, also, the cutting of trees and shrubs that are located less than five meters of existing buildings, especially if there are branches that are projected rises roofs , and bushes can not exceed 50 centimeters in height - in the case of herbaceous plants, the limit is 20 centimeters. At the end of the intervention, the respective cleaning of the leftovers should be done. Keep in mind that, during the process, you must respect legally protected species such as holm oaks or cork oaks. What are the exceptions to cleaning? Excluded from the cleaning obligations provided for in the law are gardens that are properly maintained, as well as agricultural areas - provided they are not set aside or intended for permanent pasture. Cleanliness in the city: conditions It is not only rural or forest areas that are covered with this cleaning requirement, there are rural and forest areas contiguous to urban areas where this obligation must be implemented within the legal deadlines. The conclusion to be drawn is this: if you are the owner of a land or house in the countryside, inserted in a forest or rural area, be aware that your actions can make a difference and avoid disasters such as fires. Check if your land or house is properly cleaned, also checking if your irrigation systems work and, on warmer days, be aware of the fire risks to your area, information you can consult, updated, on the website of IPMA - Instituto Português do Mar e da Atmosfera . Related to this theme, you can read: Buy a land to build: everything you need to know , REN Project will protect the forest from rural fires
Source: Freepik Author: Redaction Cascais was again awarded , this time in the areas of advertising and innovation , by Muse Creative Awards 2024 . At issue is the Golf Passport by Cascais platform, distinguished in the category of tourism website and e-commerce platform. The project, launched by Turismo de Cascais , includes a golf passport of its kind with an innovative digital solution , being the first platform that allows you to make golf reservations of 3-5 laps, in less than a minute, availability in real time and respective prices. Bernardo Corrêa de Barros, president of Turismo de Cascais, says that Cascais is at the forefront of digital innovation aimed at improving the lives of tourists and residents , explaining that now golfers can score with confidence, knowing that this is the fastest, simplest and most cost-efficient way in Portugal to play on different courses . Unique in having technology applicable to any set of golf courses anywhere in the world, Golf Passport promises to pave the way for more innovation and collaboration between destinations, travel partners and golf locations, Jo Maes, commercial director of Zest.golf and responsible for the development of the software used in the platform: this is a world first in the golf travel sector and was achieved through close collaboration between us as a technology supplier, the Visit Cascais tourism council and each of the golf clubs, to provide a fully integrated and highly functional booking solution for tour operators and consumers, collude. More about Cascais that may interest you: Cascais will advance with mega-urbanization in Quinta dos Ingleses , Cascais is recognized as Green Destination
Source: Freepik Author: Redaction It was in its latest Global Financial Stability Report that the International Monetary Fund (IMF) warned of interest rate cuts in the first chapter, advising central banks to remain on alert until the disinflation process was overcome. This is a piece of advice that contradicts the optimistic outlook of financial markets, which anticipate the end of inflation and a possible easing of restrictive monetary policy. Nevertheless, the IMF technicians act with caution , considering that the various challenges that still remain, namely geopolitical tensions and pressures on the real estate market, may increase risk for some lenders, especially with the ongoing problems in China’s real estate market, the report notes. Thus, although inflation slowed rapidly on a global scale, the trend began to diverge in countries such as the US, the UK, South Africa, Italy, Germany and France, inflation expectations for the coming years began to show signs of rising. Kristalina Georgieva, president of the IMF, makes it clear that this phenomenon may jeopardize the expectation of a continuous disinflation, with projections indicating that future inflation in large economies may not slow down quickly, remaining above central bank targets . This is a message that goes against what the President of the European Central Bank (ECB), Christine Lagarde, and the President of the US Federal Reserve, Jerome Powell, had already advocated after the meeting of the Monetary Policy Councils. The discrepancy between the instability in asset prices and the political and economic uncertainty felt are also another of the warnings left by the IMF , which considers that it can anticipate increases in volatility due to negative and unforeseen shocks in inflation, with potential to shake the forecasts of falling interest rates. All of this could result in a correlated sale of assets, tightening global financial conditions and especially affecting emerging markets, which face disproportionately high refinancing rates, the IMF technicians said. The indication left by the IMF is therefore that the banks should wait, avoiding premature easing of the monetary policies in force so that they do not have to move backwards afterwards: instead, they should combat investors overly optimistic expectations of easing monetary policy, in order to be able to ensure a stable transition to a less restrictive monetary policy, they conclude. Keep abreast: Portugal is the country most impacted by the ECB’s monetary policy
Source: Freepik Author: Redaction Banco de Portugal recently released data for non-performing loans in Portugal, which reached a minimum of 250 million euros in February . Behind this debt slowdown is the reduction in exposure to bad loans by banks that, in the last financial crisis, reached an amount above EUR 2 billion. The default in mortgage loans was one of the trends of the last economic crisis in Portugal , leading to that, in June 2016, at a time of crisis, the amount of loans for housing at 2,629 million euros, a maximum since 1998 and beginning of the series. Thus, banks have maintained the recommendations of Banco de Portugal and proceeded to the sale of bad loans, helping several families to reduce their exposure to real estate , an effort that resulted in the fall of the amount of overdue housing loans , reaching 238 million euros in December last year, which also represents a historic minimum of defaulted housing loans, even despite high interest rates. In this way, the amount of housing loans increased slightly between the end of last year and February of this year, to almost 250 million euros, however, the balance is positive, with Portuguese banks managing to reduce the amount of defaulted housing loans to 2,379 million euros. Read more about economy and housing in SUPERCASA Notícias
Source: Freepik Author: Redaction The Algarve Tourism wants to reinforce the arrival of more foreign tourists to the region , namely North American tourists, having prepared several actions to boost the promotion of travel. Some of the municipalities included in this action of the Algarve Tourism are Vila Real de Santo António, Faro, Olhão, Portimão and Albufeira, being thought ten and a half actions to perform throughout this year in Portugal, the United States and Canada. The goal is to promote the district through proposals that show gastronomy, oenology and nature activities of the Algarve region , and the idea arises after having been announced the postponement of a direct flight between Faro and the USA. According to the entity, the Algarve registered, in 2023, an annual growth above 27 percent in the number of guests in the Algarve hotel units , and the trend is positive, It is expected to continue to grow through the displacement of about 200 guests across the Atlantic , including tour operators, journalists and influencers. André Gomes, President of Algarve Tourism, points out: the United States is already the seventh most important foreign market in the region. Visitors to this country, together with those from Canada, seek, and find, in the Algarve, some of the best golf courses and beaches in Europe. Keep abreast: New support for water efficiency in the Algarve: how does it work? , AHETA wants to build social housing to capture manpower and Live 10 minutes from the beach? Realize this dream with SUPERCASA
Source: Freepik Author: Redaction Rapid statistics from the National Institute of Statistics (INE) show that air transport continues to rise, continuing to maintain, in February, historical highs of monthly passenger values in Portuguese airports. According to the analysis, there are 76,000 passengers to make, on average, a daily landing, corresponding to an increase of 4% compared to the values calculated in 2023. The Portuguese are travelling more to France , and this was the main destination of origin and destination of flights, although it has slowed to 6.6% in the number of passengers landed. The value is similar in the number of passengers on board, which was set at 6.4%. Compared to the same period last year, they are -6.6% and -6.4%, respectively. Spain is also one of the passengers favourite destinations in Portugal, followed by the UK. It is also concluded that, in February, national airports handled 19,600 tons of cargo and mail, which means an increase of 16.3% over the same period. This topic may also interest you: More tourists choose Portugal as a luxury holiday destination
Source: Freepik Author: Redaction The intense heat is causing an increase in demand for services for swimming pools , ensures an analysis of the service contracting platform Fixando, sent in a statement to SUPERCASA Notícias that identified an 8 1% growth in demand for these services last week, requests for cleaning and maintenance of these equipment. As for the distribution of services sought during the week of April 8 to 14, most of the requests were for cleaning and maintenance of swimming pools (51%), followed by repairs to swimming pools (31%) and new swimming pool facilities (9%). The company also said that, after a month in March that set record temperatures around the world, and with a weekend marked by a sharp rise in thermometers throughout the country, requests for services for swimming pools between March 1 and April 14 grew 53% compared to the same period last year. A detailed analysis of the prices of the services also revealed a significant increase in 2024, compared to the previous year: for example, the average cost of installing a pool increased to 2,133 euros, compared to 1,975 euros in 2023. The cleaning and maintenance of jacuzzis and spas also registered a substantial increase , from 80€ to 120€. However, the price for cleaning or maintaining swimming pools remained relatively stable, with a marginal increase of only €1 (from €104 to €105). With high temperature forecasts continuing in the coming days, Fixando, in information shared with SUPERCASA Notícias , estimates that the demand for pool services continues to grow. In the total of this study, 1526 requests related to swimming pools were analyzed. On this topic, we suggest reading: Is there a pool in your house? See how to make an effective cleaning or Increasingly Portuguese invest in houses with swimming pool
Source: Freepik Author: Redaction The City of Lisbon discussed last Friday, April 12, the operation of municipal subdivision in the parish of Santa Clara , and it was approved in a private meeting of the executive. At stake is an area of 20,981 square meters, with four lots, for housing construction and commercial spaces. The proposal was submitted by Joana Almeida, councilwoman of Urbanism , and intends that two of the four lots, with 26,824 square meters, distributed over 265 homes, are allocated to housing use, while the remaining two are for use of trade and services, with 7,350 square meters of pavement surface. This subdivision operation obtained the final favorable opinion by the Regional Coordination and Development Commission of Lisbon and Tagus Valley (CCDR-LVT)However, the approval by the Chamber was conditioned by compliance with the opinions of the municipal services of urban planning, mobility management, urban hygiene and public space. Also accompany: Grupo Casais is building housing at controlled costs , Évora will build 122 new fires with investment of 26M€
Source: Freepik Author: Redaction COSEC - Credit Insurance Company released on Monday data on insolvencies in Portugal, which skyrocketed in the first quarter of this year. According to the insurance company, the number soared 19.5% and it is micro-enterprises, that is, those that employ less than 10 people, who represent a larger share of the total (67%) , between the months of January and March. More than half of the insolvent companies, representing 52% of the total, have been in business for at least ten years, and it is in the large metropolitan areas that this trend is most evident, with Porto and Lisbon at the top of the analysis. According to the data, it is in Porto that the largest number of insolvent companies (182 companies) and also the largest share of companies in default of their obligations are located. This is a 42% increase over the same period last year. Next is Lisbon, with 120 companies in this situation , which represents an increase of 34% compared to the first quarter of 2023. Also during the first quarter period, it was the services sector that verified more insolvency situations, with 133 cases reported, followed by the textile sector, which changed position with the retail sector, and also the construction sector. Also accompany: Tourism revenues: February registered an increase of 276.4M€ , Portugal is the country most impacted by the monetary policy of the ECB and Portuguese companies have record values of financial autonomy
Source: Freepik Author: Redaction The National Institute of Statistics (INE) released on Monday that Portuguese tourism continues to grow, and its revenues increased 13% to 276.4 million euros during the month of February. Compared to the same month last year, there is still an increase of 7.0% in the number of guests, an increase of 6.4% in the number of overnight stays and an additional 13.1% in income. Regarding this trend, Statistics Portugal states that in February 2024 there were 1.8 million guests and 4.6 million overnight stays , which means increases of 6.6% and 5.8%, respectively in all tourist accommodation facilities, adding that, The overnight stays of residents increased by 2.7% and those of non-residents grew by 7.4% , reads the statistical report on tourism activity. Although the main indicators have grown, there has been a slowdown in the income obtained from the rooms in the accommodation , however, the highest value continues to be verified in Greater Lisbon (107.8 euros), followed by Madeira, with 85.6 euros. However, all regions had growth since indicator. As regards income per available room, there was an acceleration , having grown 4.5% to 37.8 euros in February, compared to the same period in 2023. Regarding overnight stays, the Portuguese statistics institute states that the municipality of Lisbon concentrated 24.3% of total overnight stays (12.1% of total overnight stays of residents and 30.3% of non-residents and, among the municipalities with more expressiveness in the total overnight stays in the month under analysis, Lisbon (8.3%) and Porto (10.5%) continue to stand out. Related news: More tourists choose Portugal as a luxury holiday destination , Portugal won 31 awards at the World Travel Awards
Source: Freepik Author: Redaction The International Monetary Fund (IMF) has come to the conclusion that Portugal is the country where the costs of housing loans have risen the most after the monetary policy implemented by the European Central Bank (ECB), which has resulted in higher master interest rates . This increase has increased the debt service burden in Portugal, which is equivalent to 1.2% of GDP. According to the World Economic Outlook, released this Monday by FIM, it is possible to conclude that the annual increase in debt service costs, compared to mid-2022, varies significantly across the euro area, from Portugal, with 1.2% of GDP to Malta with almost zero . Thus, Portugal is the first in the ranking of European countries with the highest impacts on costs after the ECB’s monetary policy entered into force in July 2022. Second are Finland, with 1.1% of GDP, and Estonia, with 1%. As explained by the IMF, there are market characteristics that contribute to the changes in the transmission of monetary policy effects, namely the prevalence of variable rate loans and the proportion of households with mortgages , and Portugal is effectively one of the European countries with the highest number of housing loans at the variable rate, being vulnerable to any kind of changes in interest rates. Still, the IMF believes that the impact of monetary policy on countries such as Portugal, Hungary, Ireland and the United States seems to have weakened, as there has been a reversal of some trends, such as greater adoption of fixed rate credits, tighter limits of the ratio between the amount of the loan and the value of the asset (real estate), lower indebtedness, emigration from densely populated areas and deflation of housing prices in some areas previously overvalued . Stay to read Differences between a fiador and a avalista: understand them , Households in the Eurozone are saving more compared to 2022 and Banks anticipate resumption of demand for housing credit
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