Source: Freepik Author: Redaction More than 8,000 contracts managed to obtain approval for the mortgage loan , a total that corresponds to about 33% of the total applications made by households to banks, under the government measure that provided for a 30% relief in the provision of the house. These are data from the Behavioral Supervision Report , published this Wednesday, April 17, by Banco de Portugal (BdP). According to the information shared by the bank, 25,879 applications for temporary fixation of residential loans by financial institutions were decided between November and February, and 8,636 applications were approved. Conversely, 17,243 applications were rejected, corresponding to 66% of the total, although most of these were by decision of the customer at the time of the request, then deciding not to adhere to the measure, a total of 15,555. As for the number of applications rejected, there were more than 1,000, due to contracts in the process of PARI - Action Plan for the risk of default or because they were already in default, figures that fall short of the government forecasts, anticipated that more than a million people could benefit from the measure. Thus, only 0.8% of the eligible contracts had the fixing of the provision implemented, corresponding to 1.6% of their living amount, obtaining an immediate reduction of about 76 euros, with the unpaid amounts being deferred for the period after the fixation. Follow similar topics: Youth housing credit: everything you need to know , BdP reveals that bad loans are at a minimum
Source: Pexels Author: Redaction According to Knight Frank ’s latest report on the global real estate market, received in a statement by SUPERCASA Notícias newsroom, the average house price continued to rise in the last four months of 2023 . The Global House Price Index now released by London-based real estate and offices on five continents, a Portuguese partner company Quintela and Penalva, reveals that prices are rising at a faster pace since the end of 2022. The report also indicates an average annual growth of 3.9% taking into account the main markets analyzed. Of the 56 markets monitored, only 18 saw prices decrease in the fourth quarter, a decrease from the previous quarter, when 21 markets showed the same trend. The main driver of rising prices has been product shortages in many markets. This is the case in the US, where rising mortgage rates have discouraged potential real estate sellers as they risk having to pay a significantly higher mortgage rate when buying their next home. In addition, this shortage of available real estate was intensified by a slowdown in the delivery of new housing as a result of supply disruptions affecting the construction sector in several of the major markets studied over the past four years. Portugal is in 18th place in the ranking of the fastest growing countries (5.3% to 12 months; 1.2% to 6 months) and with a slight decrease in the last quarter (0.3%), and according to Francisco Quintela, founding partner of Quintela and Penalva, Portugal continues to perform well and attract investors from all over the world . And he adds, in the note to which SUPERCASA Notícias had access: the prices that grow the most are, in fact, in the noble and central areas of the city of Lisbon, regarding the residential market, and the trend should continue throughout 2024. The demand for our country remains solid and Portugal is an alternative for many countries living moments of uncertainty. Follow more topics like this in SUPERCASA Notícias
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 start, before proceeding with a request from 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 at least 10% of the total sale value of the property, however, it is advisable that if you can and have this amount, 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 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: 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 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 In the fourth quarter of 2023, according to the data recently released by INE and sent by AICCOPN to the newsroom of SUPERCASA Notícias , 34,126 family homes were transacted, for a total amount of 7,174 million euros, which corresponds to variations, compared to the previous quarter, of -0.4% and +1.4% in number and value, respectively. Regarding the evolution of real estate prices, there was a maintenance of the appreciation trend, with the housing price index increasing 1.3% compared to the previous quarter. In January 2024, at the level of the licensed area, the municipalities registered reductions of 12.6% in residential buildings, and 14.7% in non-residential buildings, compared to January 2023. As for the number of fires licensed in new constructions, this month saw a decrease of 16.4% year-on-year to 2,394. Regarding the new housing construction cost index, in January there was an increase of 1.9% year-on-year, as a result of variations of -0.9% in the material component and +5.7% in the labor component. By the end of February 2024, cement consumption in the domestic market totaled 646.3 thousand tons, which corresponds to a growth of 13.4%, compared to 569.8 thousand tons recorded in the same period of 2023. In the public works segment, in the first two months of 2024, significant growth is verified, compared to the same period of 2023. Indeed, as regards the amount of public works tenders promoted, there was a significant increase of 173% year on year to EUR 624 million, with the opening of a tender for the High Speed Railway Line Concession, in the amount of EUR 661.4 million, to be decisive for this development. As for the total volume of public works contracts concluded until February and reported on the Base Portal until March 15, it shows an increase of 15%, in terms of year-on-year comparable change, to 414 million euros. Read more topics like this in SUPERCASA Notícias
Source: Aldeias Históricas de Portugal Author: Redaction If you are looking for an enriching cultural experience, where you can not only explore landscapes and nature reserves, but also a series of adventures and other activities, Castelo Rodrigo is one of the 12 Historical Villages of Portugal that you really have to visit. Belonging to the parish of the municipality of Figueira de Castelo Rodrigo, it is surrounded by monumental spaces that will transport you to medieval times. What can you visit in Castelo Rodrigo? The variety of monuments will surprise you, but we suggest, mainly, a visit to the Castle, which is the main attraction of the village, imposing for its medieval design and which will provide you with a unique experience, the panoramic views over the region that will make you return in time and, soon after, we recommend you to explore the Citadel , where you will find narrow streets, stone houses and several points of interest, such as the Church of San Salvador, the Governor’s House and the Keep. If you prefer a cultural passage, the mandatory recommendation is the Côa Museum, where you will get to know the history of the region and the collection of rock prints with more than 25,000 years. Other points of visit we suggest: • Douro International Natural Park: this park covers part of the municipalities of Miranda do Douro, including the parish of Figueira de Castelo Rodrigo, and is an excellent option if you prefer to explore the surroundings. You will find river beaches and unmissable trails. • History Zone: inside the village of Castelo Rodrigo, you will find a series of traces of the past that will make you travel back in time to discover the medieval Jewish Quarter, the House of Mercy or the Church Matiz. What’s it like living in this historic village? The natural landscape of Castelo Rodrigo will surround you with history and beauty, being an ideal village for lovers of hiking, cycling or outdoor activities . Then, on a historical level, the heritage is vast and very complete, with lots of places of interest that will take you on a real history lesson . T he community of Castelo Rodrigo is extremely welcoming and hospitable, so you can expect a warm and happy stay, but also with the advantage of having a low cost of living , which is significantly lower than in the large surrounding Portuguese cities. And finally, one of the most appreciated points, is the security that the inhabitants feel, being able to walk leisurely through the streets at any time of the day, without any kind of problem, as it is an extremely peaceful and peaceful locality. On the other hand, by living in this village so aged, you may feel isolated and displaced from large cities, because the fact of being part of a rural area, without great infrastructure, and also the fact of having a relatively complicated car access, especially for those who come from outside, which hinders access to the cities of the periphery. Still, Castelo Rodrigo is a living postcard of obligatory visit for any Portuguese who wants to know a little of the historical past. It is a welcoming village that offers hospitality, history, natural beauty and contact with nature. And for all these reasons, Castelo Rodrigo can be the ideal place for you! If you are looking for houses in this region you will find several options in SUPERCASA
Source: Freepik Author: Redaction Selectra , a specialist in energy tariffs, made several calculations where it finds a remarkable variation in energy consumption related to the cooling of homes, depending on the devices used , having sent them in a statement to the newsroom of SUPERCASA Notícias . In order to answer how much is, on average, the cooling in the electricity bill of three family configurations in two different markets, it was possible to reach the conclusion that the regulated market is, on average, about 6.20% more expensive. In these calculations, tax-free base price values were used. For a family configuration without children, the use of a fixed air conditioner was considered. For families with two children, two fixed air conditioners and a ceiling fan were incorporated. Finally, for families with four children, two fixed air conditioners, two ceiling fans and a portable air conditioner were included. With regard to appliances that give the greatest weight in energy expenditure, a clearer picture of the actual costs associated with each type of cooling is presented. Thus, it was possible to identify that fixed air conditioning is the least economical option, followed by portable air conditioning and, finally, the ceiling fan. These analyses aim to provide consumers with transparent and detailed information to make informed and prudent decisions regarding energy consumption and choices to cool their homes. By fully understanding the options available and their associated costs, families will be able to take effective measures to save energy and reduce expenses without compromising their comfort. Some recommendations have also been put together to help consumers achieve this goal successfully: Place the air conditioner at a temperature between 24 ºC and 25 ºC, as each degree that lowers the energy consumption will increase by 8%; 80% of air conditioning consumption results from cooling the air it collects. It is therefore much cheaper to use a fan which, although it does not cool the air, makes it circulate; Roll down the blinds or close the curtains to prevent the house from being heated by the sun . It is also important that all windows are closed when the air conditioning is switched on and that the rooms which do not need to be cooled are closed; If you are buying an air conditioner, make sure you have an A energy label . If this is A+++, energy savings will be around 40%; Unplug appliances that are not in use, as leaving them in stand-by accounts for 10% to 16% of household electricity consumption, so it is advisable to unplug as many of them as possible; Enjoy natural ventilation in the cooler moments of the day , such as early morning or late afternoon; Check that the house has good thermal insulation as it will prevent unwanted heat from entering and ensure that the internal temperature remains more stable; Like the tips? Follow the SUPERCASA Notícias for more similar information
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