Source: SUPERCASA Author: Redaction Buying land to build on can be an alternative to buying a house, traditionally already built and ready to move into. In this situation, youll have to realise that its a lengthy process and involves some bureaucratic procedures, but that in the end, once its done, its advantageous and even more economical. From the conception of the project to the execution of the work, building a house can be the most viable option for those who want a tailor-made house within the limits of their available budget , and the first step to achieving this is to buy a plot of land on which to build a house. In this step, you need to take into account aspects such as the feasibility of building and the characteristics of the land. First of all, you need to check whether it is possible to build on the land you are interested in and whether it is located in an Urban Area of Illegal Genesis. If its on an allotment site, you should consult the most recent allotment licence, check that everything is in order and pay attention to the characteristics of the land, namely whether its sloping or uphill. Its best to look for flat land , as other types will always involve more costs. Key points to look at before going ahead with the purchase Check the lands documentation and consult the Municipal Master Plan to validate its plans and regulations; Pay attention to the morphological characteristics of the land - check for water tables, check the characteristics of the soil and check the slopes of the land; Confirm whether or not the land is part of a subdivision (you can consult the latest version of the licence and the detailed plans); Check whether or not there is already an approved project; Analyse the location , solar orientation , whether there are any derogatory factors around the land or whether it will not serve as a passageway for others. Approved projects vs. unapproved projects It is essential that you analyse all the variants explained above, as you will obtain crucial information on whether or not you can go ahead with the construction of your property. In this case, one of the most important is to understand whether or not the land is part of a subdivision . If it isnt, it means there wont be an approved project, which means youll have to submit a licensing project to the town hall and, at a later stage, apply for a building licence. Once these documents are in place, you must apply for a housing licence for the property so that you can live in it. In the case of land without approved projects, you have to fulfil all the stipulated requirements in order to get the licence and, until the construction phase, it will take time and patience, depending on the pace of work of the town hall where your land is located. On the other hand, if you buy land with an approved project, it will most likely already have an authorised licensing project and a building permit ready to go. However, you should be aware that if you buy a plot of land with an approved project, the property has to be built exactly as it is designed in the project, so if you want any changes or rectifications, you may not be authorised to make them. What documents do I need to buy a plot of land? Habitation licence, if applicable; Building licence, if applicable; Licensing project, if part of a subdivision; Municipal Masterplan; Land registry; Land registry certificate; Municipal Fees Regulations for urban development activities and operations related to the municipality. If you have these documents together, youll have more security when you go ahead with the purchase of the land , as they are documents that can be requested at a later stage. What taxes will you pay? Although its a cheaper option, theres no escaping the taxes involved in buying a property. In the case of a plot of land, these are as follows: Municipal building taxes; Urbanisation fees and urbanisation compensation fees; Municipal transfer tax (IMT); Municipal Property Tax (IMI); Additional IMI (AIMI). Are you ready to move forward? Check out the unmissable opportunities available for sale at SUPERCASA! Land in Torres Vedras, 85.000€ Land in Alcobaça, Leiria, 110.000€ Plot in Vila Nova de Gaia, Porto, 125.000€ Building plot in Portimão, Algarve, 179.000€
Source: Freepik Author: Redaction Youre getting closer to the final goal: formalising the deal to sell your house. At this stage, the first thing you need to do is get all the necessary documents in order, including deeds, energy certificates, building licences and any other relevant paperwork. By organising these papers, even before the deal is formalised and the promissory contract signed, youll save time when the time comes to go ahead with the deal. This proactivity should come from you, regardless of whether or not you are being accompanied by a real estate agency. However, it is most likely that, while the publicity processes and visits to the property are taking place, the agency accompanying you will ask you to start gathering this essential documentation. But lets break it down. Do you have an interested party for your property? Well tell you what to do from here! Discuss the sale price of the house Youll need to start negotiating as soon as someone expresses an interest in the house youre selling. From the outset, and if youve followed all the steps weve explained to you in previous articles, namely Valuing the property when selling: how and why , you should have already set a final value for the sale , however, and because many buyers like to haggle, this can be a changeable figure. Even so, you shouldnt lower or raise the price just because you have to . In negotiations, you should always set a reasonable minimum target that you cant go below, and negotiate according to this. Once youve agreed on the price, make sure you have all the documents well talk about below so that you can finally proceed with formalising the deal. What documents you need to have in order to proceed with the sale If youre not familiar with the bureaucracy associated with selling a house or know little about the property market and how these procedures work, all you need to know is that, in order to go ahead with the sale, you must have in your possession a series of important documents, required by law during the sale process, to formalise the sale: - Up-to-date permanent land certificate - Caderneta predial urbana - Licence to use - Technical data sheet for the property - Energy certificate - Property description - Building plans - Deed of sale - Citizens card Well explain what each of these documents is about. Updated permanent land certificate You can obtain this document from the Land Registry Office , which basically allows you to c onsult the entire history of the property - with information about construction, inheritance or possible associated liens. Caderneta predial urbana In this document, youll have access to all the information about the property from a fiscal point of view , namely the owner of the property and its tax value, as well as its location and characteristics. This will be one of the most important documents for formalising the deal through the promissory contract of sale. Using the urban land registry you can calculate the Municipal Property Tax (IMI) and the Property Transfer Tax (IMT), so its essential to keep it up to date. Licence to use The purpose of this document is to prove that the property has been previously inspected and is in full compliance with the work carried out, projects approved by the competent authorities and the legal regulations in force , as well as to prove the suitability of the building or autonomous fraction for the intended purpose. Property technical sheet This technical sheet will give you information on the technical and functional characteristics of an urban building for residential purposes , once the construction or reconstruction work has been completed. It can be requested from the National Civil Engineering Laboratory and the Directorate-General for the Consumer, and the requirement for obtaining it is that the buildings have been built or have undergone extension, construction or reconstruction work after 30 March 2004. Energy Certificate This is a document where you can find not only an assessment of the propertys energy efficiency, on a scale from very inefficient (F) to very efficient (A+), but also information on the propertys characteristics , such as insulation, types of ventilation, air conditioning and hot water production, and their effect on energy consumption. It also includes improvement measures that suggest ways to lower energy consumption and an indication of the tax benefits and types of financing available. Property description You only need to present this document if there is a mortgage associated with the property , which is presented at the time of the public deed when the property is transferred, as it proves the cancellation of the mortgage associated with the house you are trading . It is a document issued by the bank. Property plans These drawings of the property describe its constitution, in terms of rooms, available spaces and other elements that can help with the sale of the property, as they will give you a complete view of the house and its areas . You should have this document in your possession, as i t may be requested by the bank from the property buyer when applying for a home loan, or by the buyer themselves when making their decision. Deed of sale This document is mandatory in order to proceed with the sale of a property, as it verifies the conditions of the previous transaction. Once these documents have been gathered, you will move on to the crucial stage of the process of selling the house, which is formalising the deal. You can find out all about this in the next SUPERCASA Notícias article!
Source: Freepik Author: Redaction Moving forward with works at home requires, from the outset, a good available budget and some patience , and it can be a complex process and with some associated concern, since unforeseen events can always appear that force you to spend more money. However, you do not need to be apprehensive, because there are tax benefits for certain properties that are subject to rehabilitation , and which we are making known today. If you are reading this article because you are selling your home and would like to improve it in order to increase its sale value and attract potential buyers , we suggest reading the article 4 essential valuation strategies in selling a house . And if you are in fact planning to move forward with works or renovations , you will find here all the necessary information about the expenses you can count on, charges and possible tax benefits. Get to know it! What is the first step before the work? Before hiring a team or construction company, we advise you to ask for different budgets . This is step number one when it comes to contractors, whether in your home or any other building that needs interventions. Any person responsible for the property, should start by asking for different budgets, contacting different professionals, and ask them for a complete evaluation of the specifications: how long the work will take, how much it will cost, what materials will be needed and what is the feasibility of the intervention. Based on the various scenarios, when analyzing the proposed budgets, you will have an initial perception of how much money you should have available for the renovations you want to perform in your home, preparing also for potential unforeseen and acquiring knowledge of the prices that are practiced in the market, for a better decision about which company is ideal to perform the work . It is important that you only consider budgets that already include VAT, because without this tax the value will be higher in the end, and may surprise you at the time of payment. When considering VAT, you get a real sense of the final value, being able to make adjustments to the materials contemplated according to the limit you have in your budget. A few points to remember: • You should not accept a budget just because yes , however, if you exceed the deadline that determines the period in which the conditions presented to you are valid, there may be changes and adjustments that were not contemplated. • To formalize the acceptance of the service ask for a written agreement to safeguard your rights - you can, in this case, sign the budget document, asking for the signature of the entity that will do the works, and this officialization makes the document a contract. • After all completed - contract, payment - an invoice must be issued . What fees are associated with construction costs? It is normal that the rates vary according to the type of goods or services provided, however, the Value Added Tax will be one of the taxes that will always have contemplated, varying its value. • In the case of a labour service, the 6% VAT rate will be applied; • Building materials are covered by a standard VAT rate of 23% (excluding value less than or equal to 20% of the total cost of the work; • For other complementary services, namely cleaning, maintenance of green spaces or other maintenance, the applicable VAT rate is 23%. It is most likely that different VAT rates appear on your invoice, and products and/or services in this situation should be identified separately. Note that the invoice must include the identification of the company providing the service , the identification of the customer , the detail of the goods and services invoiced, the dates on which the goods and/or services were delivered and the dates on which the payments were made, prior to the completion of the operations, if the date is not the same as the issue of the tax document. Know the tax benefits associated with the remodeling of a property Probably did not know, but the truth is that the rehabilitation of real estate can be associated with several tax benefits , namely through the reduction or exemption of VAT, IMI, IMT and IRS, generally applicable to properties located in Urban Rehabilitation Areas (ARU). With each benefit, there are criteria that we explain: VAT The lowest tax rate, of 6%, can be applied, according to the VAT Code, to contracts in real estate located in areas classified as ARU and to contracts carried out in real estate related to housing. IMI In the case of the Municipal Real Estate Tax, the exemption can last up to 3 years , in the event that the property targeted for rehabilitation is older than 30 years or is located in ARU, being exempt from paying the tax. IMT As with IMI, with the Municipal Property Transfer Tax you can also benefit from an exemption, in this case, if you buy a property with more than 30 years or that is located in an ARU, provided that it initiates rehabilitation works within 3 years from the date of purchase and, in case the property is already rehabilitated, is intended for the owner’s own and permanent housing, or even rented for this purpose. In the case of IMI and IMT, the benefits are still conditioned by the levels of conservation status, which must be improved, as well as a positive assessment and good requirements for energy efficiency and thermal quality. IRS In the IRS, there are some benefits associated, and in the case of the charges for the rehabilitation of real estate there may be a tax discount that reduces up to 30% of the expenses , up to the limit of € 500 if the property is located in an ARU and is recovered under the rehabilitation strategy - these are deductions applicable not only to works for own and permanent housing , but also to properties for rent. Then, in addition to the discount, you can deduct the expenses paid for maintenance and rehabilitation works in the properties for rent in Annex F of the IRS declaration, which concerns real estate income, provided that they are carried out up to 2 years before the start of the contract. Finally, associated with the IRS, it can obtain benefits generated by capital gains, provided that the property has been sold after the rehabilitation works, if it is located in an ARU and has an autonomous tax rate of 5%. In this specific case, the condition to receive this benefit is that the works have left the property in a state of conservation up to at least 2 levels above what was verified before the intervention, as well as a level of conservation, at least, Good. Are you ready to move forward with the redevelopment now that you know all the associated benefits, charges and taxes?
Source: Freepik Author: Redaction Whether youre buying or selling, the energy certificate is one of the documents youll always have to take into account if youre thinking of selling a property. Its intrinsically linked to the propertys energy performance and is a fundamental document in any transaction. The presentation of this certificate is, in fact, mandatory by law , so today, in this SUPERCASA Notícias article, we explain exactly everything you need to know, how the Energy Certification Systems (SCE) work, when you should present the necessary documents, the types of assessment and their advantages , as well as what can happen if you default. What are the legal obligations for property owners and real estate agents? As stipulated by Decree-Law 118/2013 of 20 August, all owners of a property are obliged to comply with the specific obligations of indicating the energy rating, and they are also responsible for indicating the propertys rating and respective documentation to real estate agents. They are also responsible for providing a copy, or the original, of the Energy Certificate in situations where they enter into - a promissory contract for the purchase and sale of the property; - rental agreement. Failure to fulfil these obligations is subject to monetary fines. On the part of estate agents and consultants, they must include information about the energy class of the property in their sales or rental adverts in order to avoid considerable fines and poor quality adverts. What is the Energy Certification System for Buildings (SCE)? This is an instrument with European Union legislative guidelines, implemented in Portugal, which plays a fundamental role in enhancing energy efficiency and promoting sustainable energy in buildings. It establishes a link between the energy efficiency policies defined by European regulations, market agents and buyers/owners. Thus, included in the SCE is the Energy Certificate, a document that, as its name explains, assesses the energy efficiency of the building, certifying it with a rating that can vary between A+, A, B, B-, C, D, E and F , from the highest to the lowest efficiency rating. How does Energy Certification work? Eligible in buildings or autonomous fractions under the SCE, energy certificates are required by law in all buildings, new or old, whenever they are put up for sale or on the rental market , but also in buildings that are undergoing rehabilitation or interventions, and whose value is greater than 25 per cent. According to ADENE - Agência para a Energia (Energy Agency) and its SCE Guide , any building that is a covered construction with walls and floors intended for human use must be covered by an energy certification, whether it is composed of one or several bodies, as is the case, for example, in schools, hospitals, tourist resorts, among others . In the energy certification document for a property, you will find: - an assessment of the propertys energy efficiency, on a scale from very inefficient (F) to very efficient (A+); - information on the propertys characteristics, such as insulation, types of ventilation, air conditioning and domestic hot water production, and their effect on energy consumption; - improvement measures that suggest ways to lower energy consumption and improve the comfort and health of the residents/inhabitants of the property; - indication of tax benefits and types of financing available, when available. The great advantage of this document is the immediate value it gives to the property , as you will have an analysis of the type of consumption, advantages and disadvantages of the property, indications of improvements and structural characteristics, which will make all the difference when selling or buying the house. But there are others. Advantages of the Energy Certificate As we said above, this is a document that will greatly enhance the value of your home, but its not the only advantage: - Through the certificate, you get to know the property much better , both structurally and in terms of the energy consumption it will have; - you know how you can reduce your energy consumption and expenditure in a permanent and efficient way; - knows exactly what the direct implications are for comfort and health , if any; - indicates personalised improvements according to energy performance, in order to reduce consumption; - you have access to financial and tax benefits, which well explain below. Financial and tax benefits of the Energy Certificate A house with a higher energy rating will be more competitive on the market than one with a lower rating . However, it is also an asset in financial and fiscal terms, allowing you to access better rates when implementing the improvement measures indicated in the document. The tax benefits with the most impact on your wallet will be a refund of the IMT (Municipal Property Transfer Tax) if you rehabilitate your home, for which you can get more information from your local council or town hall, but also a reduction in the municipal IMI (Municipal Property Tax) rate, which you can also find out about from your local council. Another of the great financial advantages of an energy certificate is the exemption from municipal taxes when an urban building undergoing urban regeneration is rehabilitated , as well as the exemption from the issuance fee when re-issuing a new Energy Certificate after the improvements have been implemented. What is assessed in an Energy Certificate, who carries out the assessment and where can you request it? The assessment is carried out and issued by independent Qualified Experts, who will assess the installation of double glazing, insulation reinforcements and the existence of efficient equipment, among other things. To request this assessment, you should ask for quotes from several qualified experts working in your neighbourhood or area of residence. It is important to ask several experts to find the one who will give you the best price and, once you have found the professional assessor, gather the necessary documents and provide access to all areas of the house during the assessment. In the end, ask for the preliminary version of the certificate and check the data on the document to make sure everything is correct before it is issued definitively. How much does an Energy Certificate cost? The amounts will vary depending on whether it is a residential building or a building for commerce and services, and the cost of issuing the certificate will always be associated with two variants: 1. Qualified Expert (QE) fees, which vary according to the complexity of the building, its condition and conservation, so there are no fixed figures for reference. 2. The value of registering the certificate on the SCE Portal, defined by government decree, and for which the following values are associated: Residential buildings - Studio and one-bedroom typologies - €28.00 - T2 and T3 typologies - 40,50€ - T4 and T4 typologies - 55,000€ - Types T6 and above - 65,00€ Commercial and service buildings - With a floor area equal to or less than 250m 2 - €135.00 - With a floor area of more than 250m 2 and less than or equal to 500m 2 - €350.00 - With a floor area of more than 500 m 2 and less than or equal to 5000 m 2 - €750.00 - With a useful floor area of more than 5000 m 2 - €950,000 You should bear in mind that energy certificates have an expiry date, which varies according to the type of certificate in question, but which you should consider in the following terms: - Pre-energy certificates: 10 years; - Energy certificates: 10 years; - GES energy certificates (large commercial and service buildings): 8 years; - First GES energy certificates for new buildings and major renovations: 3 years. There are also validity periods for the following criteria: - Energy certificates for GES that are in operation and do not have a Maintenance Plan: 1 year; - Energy certificates for commercial and service buildings that do not have the technical systems inspection report, when mandatory: 1 year; - Energy certificates for boarded-up buildings: 1 year (extendable on request to ADENE). Are you clear? Read also Turnkey homes: how does this concept work , Tips for remodelling your property without spending a lot of money
Source: Freepik Author: Redaction If you are moving house or have already done so, it is important to remember that you have 60 days to change the address on your Citizens Card. If you fail to meet this deadline, you will be subject to a fine and lose the right to receive tax benefits. To regularize your address, you can go to a branch of the Institute of Registries and Notaries, or do it online. This process will automatically change your address in the Registries, the Tax Office, Social Security, the National Health Service and the Electoral Register. When should you change your tax address? In the event of a change of permanent home, whether bought or rented, you have a maximum of 60 days to notify the tax office of this change. Failure to comply can lead to a fine of between 75 and 375 euros and the loss of some tax benefits , such as exemption from IMI or the deduction of rents paid from the IRS . How do I change my tax address? The change can be made in person, at the Citizens Bureau or at the Citizens Card service desks. If you prefer, you can also do it online, on the autenticacao.gov portal, free of charge. To make the change online, you need to authenticate with the Digital Mobile Key and associated cell phone, or with a card reader. Follow these steps: Access the Eportugal portal; Authenticate yourself with your digital mobile key or citizens card; Check your details. To change your own address, select the option In your own name , fill in the details and then Next ; To change the address of a minor child, click on the option In the name of a third party and fill in the details; Enter the zip code and click on the magnifying glass. Confirm the data and click Ok; Fill in the fields for the new address and select Next ; Finally, confirm your details by clicking Yes , then Next and Logout. At this stage, the change of address has not finished. After requesting the change of address, either online or in person, you will receive a letter from the tax office with the address confirmation code at your new address within five working days (in the case of Madeira and the Azores, this may take a few more days), so that you can validate it later on the portal. Confirm the change of address: Access the Eportugal portal; Authenticate yourself with a digital mobile key or citizens card; Enter the new address confirmation code (indicated in the letter you received) and click Next ; Log out. You can follow the process of changing your address on the ePortugal portal by selecting the option Reserved area > Log in. Alternatively, you can do it over the phone, via the Citizen Line, or in person at a Citizen Space. Follow these and other topics in SUPERCASA News .
Source: Freepik Author: Redaction After the Municipal Property Tax went up by €25 last year, the Ministry of Finance has now decided to maintain the price of the square meter for the purposes of calculating the tax, as well as the tax assessment of properties, which thus reaches €655 this year. According to the decree published this Tuesday in the Diário da República, the value approved for 2023, 532 euros, will remain in force during 2024 . One of the variables in the formula for calculating the valuation system for urban buildings is the average construction value per square meter , however, the IMI Code provides for an increase of 25%, which will be €655 in 2024, the same as in 2023, when it increased by €25, so keeping the tax without increases should stabilize the amount charged. As well as being one of the variables used to calculate the tax, the construction price per square meter is also important in determining the Taxable Asset Value (VPT) of urban buildings, on which the IMI rate paid annually by owners is based. Continue reading: Model 44 declaration: landlords have to submit the document this month , There is a shortage of qualified workers in the construction sector
Source: Freepik Author: Redaction Portugal is an internationally renowned country, highly sought after for its many assets and attractions. For foreign investors, it is considered a place with enormous investment potential , and for national investors, it is always an opportunity to make the most of its tourist, hotel, real estate and quality of life assets . In the real estate market in particular, it is a country with a number of associated bureaucracies , which you should be aware of if you are thinking of investing. In recent years, the Portuguese government has applied various measures to the real estate market and the housing sector, introducing legislation, mandatory documents and compulsory procedures , which SUPERCASA News will tell you about in this article. What are the fees and taxes associated with Portuguese real estate? One of the great advantages of investing in the Portuguese market is taxation , which is not only much more accessible than in other countries, but can also be beneficial in some situations, with incentives that can facilitate transactions. In the case of the donation and inheritance of real estate, there is, for example, a tax exemption for Portuguese residents , and for those who are non-habitual residents, a special exemption or reduced rate on rent. Calculated on the purchase price of the property, both taxes and other legal fees are borne by the buyer or investor of the property , which include the payment of the property registration and notary fees. The main taxes you may have to pay include: Municipal Property Tax; Municipal Property Transfer Tax; Stamp Duty; Personal Income Tax. What documents are needed when buying a property? Its important to make sure you have all the documents you need to buy a property in Portugal, so that the transaction can be swift. Not only should you have a tax identification number , which you can ask for at a tax office if you are a non-habitual resident, but also proof of address and identity , which you can present in the form of a citizens card or passport. How much can the transaction cost? Although it is a relatively simple process, and you should gather all the necessary documents beforehand , for a foreign investor who is unfamiliar with the market, the procedures may seem complex and time-consuming. In these situations, it is always advisable to hire a real estate agency to help you not only with these legal procedures, but above all to help you find the perfect property for you. A real estate transaction has various costs associated with it and, at the purchase and sale agreement stage, you will have to make a deposit, or down payment, corresponding to 10 or 20% of the total purchase price . This will be one of the first costs you will have to accommodate, but there are others: IMT or VAT; Property tax; Stamp Duty; Deed registration fee; Notary costs; Real estate agency costs; Optionally, if you hire them, lawyers fees; Public service fees Purchase price, i.e. the amount to be paid to the seller of the property you are buying (for which you can apply for a mortgage). Its important to keep all the documents associated with this transaction and to seek advice from specialists in the sector with legal knowledge who can guide you in your specific situation, as each case is unique and has different values associated with it. If you have everything organized and know exactly what you want to invest in, youll make the whole process easier. And if youre looking for great investment opportunities, check out SUPERCASA for the best properties on the market available for purchase.
Source: Freepik Author: Redaction The tax benefits granted to energy-efficient urban buildings have expired, however, the Tax and Customs Authority (AT) has come to the understanding that municipalities can continue to apply them to efficient homes, if they so wish. Thus, if the municipalities see that the requirements are met, efficient homes will receive a reduction in Municipal Property Tax. This understanding was reached following a question raised by a taxpayer about a reduction in IMI of up to 25 per cent. The AT states: although this tax benefit has expired and therefore cannot be recognised, municipalities can always grant tax benefits for energy-efficient urban buildings. Read more topics like this: Ordinance simplifying licensing comes into force in March
Source: Freepik Author: Redaction The assessment of the dams IMI for 2019 is being analysed by the Budget and Finance Committee (COF), as the director-general of the Tax and Customs Authority, Helena Borges, said on Thursday 11 January: we do not rule out the possibility of continuing to assess taxes for 2019. This follows the request submitted by the Left Bloc (BE) regarding the expiry of the deadline for paying IMI on dams, considering that several MPs had already emphasised the expiry of the tax, mentioning the possibility of it still being levied for 2019, basing this possibility on a 2020 law. This law, passed in the wake of the pandemic, suspends tax assessment deadlines, and its application is now being discussed. What I am certain of is that we have done and will continue to do everything possible to guarantee the assessment and collection of these taxes, said Helena Borges. She regrets that premature judgements are being made. Regarding the delay in assessing IMI on the dams in question, Nuno Santos Félix, Secretary of State for Fiscal Affairs, indicated that by the end of 2023 the assessment of 83 dams had been finalised, with assessment notices for 32 of these hydraulic developments due to be issued. SUPERCASA Notícias brings you all the important current affairs. Follow us daily!
Source: Freepik Author: Redaction Nuno Félix, Secretary of State for Tax Affairs, assured on Tuesday, December 19, that no increase in IMI is planned , following the PSDs protest about a potential increase in the Municipal Property Tax (IMI). This follows the future updating of the zoning or location coefficient for the Tax Asset Value (VPT) of buildings, which has an impact on the amount of tax to be levied. The Secretary of State said: The State Budget for 2024 does not foresee any increase in the IMI final paragraph. There is no provision in the Stability Program (2023-2027), which has a longer horizon, for any increase in IMI, end of paragraph . However, Nuno Félix assumes that there is a misalignment of the VPT in relation to market values , which indicates, according to the most recent data from the Tax Authority (AT) that the average VPT at national level is 66 thousand euros and in the municipality of Lisbon it is 126 thousand euros . He also adds that, anyone who knows the reality of the real estate market will easily agree that, in the Lisbon area, the average price of housing is not in that range . In accordance with the IMI Code , the government has already stated that it will review the VPT zoning coefficient, which is provided for in the law , and it is the National Commission for the Evaluation of Urban Buildings that must carry out this review every three years . According to Nuno Félix, despite all this, there is a time gap between the technical work and the governments decision : were talking about a technical commission that prepares its work, its proposal is sent to the government. If it is approved, the result of that proposal is reflected in the assessments that take place the following year and in the tax assessment for the following year. Other current affairs: Portuguese household savings rate to increase in 2024 , Matosinhos approves IMT exemption for young people up to 30 years old
Source: Freepik Author: Redaction On Wednesday, December 13, Matosinhos City Council approved new measures for housing , including an exemption from the Municipal Property Transfer Tax (IMT) for young people up to the age of 30 who buy their own permanent home worth up to 180,000 euros. In addition, the Municipal Property Tax (IMI) will be the lowest rate in the country for permanent homes with a Taxable Asset Value (VPT) of less than 75,000 euros, at 0.263% According to the leader of the municipality, Luísa Salgueiro, two thirds of the municipalitys urban buildings will be covered, stressing: all the signs are important and in . Matosinhos we want families to feel supported and for young people to realize that this is a territory that, in addition to being attractive, due to its competitiveness and quality of life, wants to be a territory for everyone and not just for those who have a more favorable financial condition . This is not the first municipality to apply the measure, but the third. Setúbal and Mafra had already imposed the IMT exemption for young people, with the difference being the age limit, which extends to 35 . As for the ceilings, Setúbal City Council set a maximum of 200,000 euros and Mafra set a ceiling of 250,000 euros. Matosinhos allocated only 180,000 euros, which can refer to the Taxable Asset Value or the acquisition value, whichever is higher . Regarding the decision to apply the measure, the mayor of Matosinhos explains that this was a year in which families are under great pressure due to rising interest rates . Read on: More Housing: find out about the changes to IMI and IMT
Source: Freepik Author: Redaction There are several stages to the buying process, from researching the property to visiting the house and, in the final stage, signing the property deed . In this article, SUPERCASA Notícias shows you everything you need to know about this step in the process, so that you have no doubts when it comes to closing the deal. Deed of sale The deed is the last stage of the process and is the legal act that establishes the purchase and sale of a property . This is when the final contract is signed between the buyer and seller of the property, and a notary or legal representative must be present to sign this document . This process consists of: The purchase and sale contract, in which the buyer becomes the legal owner of the property; If there is a mortgage, a mutual agreement contract is drawn up, where all the steps relating to the loan are reviewed. This is when the bank provides the amount requested by the client. To sign the deed, you can go to a Notarys Office , a Land Registry Office or a Casa Pronta branch , a government service for matters relating to the purchase and sale of property. Types of deed There are a few different types of deed depending on the purpose of the deal. The most common is the deed of sale , which formalises the sale of the property. However, other types of contract can be drawn up, including: Deed of sale with the intervention of financial institutions; Deed of gift; Deed of exchange; Deed of inherited property; Deed for a property under construction. Documents required A number of documents are required for the property deed. With regard to the intervening parties, it is necessary to submit: Identification documents for the seller, buyer and guarantors, if applicable; Proof of payment of taxes (IMI, IMT and Stamp Duty), or proof of exemption from IMT. About the property: Promissory Contract of Purchase and Sale (CPCV); Caderneta Predial Urbana or Pedido de inscrição do Prédio na matriz (Modelo I do IMI) issued by the Tax and Customs Authority; Licence to use; Housing technical file; Energy and Indoor Air Quality Certificate for Buildings; Certificate of content; Infrastructure certificate; Mortgage waiver; Toponymic certificate. Value of the property deed The costs associated with the property deed are usually borne by the buyer. These costs do not have a fixed value , but always depend on various factors, such as: The value of the property; Taxes associated with the property; Registration of the deed; Costs associated with legal services to sign the document, such as the registry office or notary. On this subject, read also: 3 steps to buying the house of your dreams and Buying and selling a house through a real estate agent: The advantages