Source: Freepik Author: Redaction If you have a home loan it is important to be aware of how mortgages work and everything that involves this guarantee to the bank, which can be canceled in three different situations . Through the mortgage, it ensures the payment of the housing credit that it has with your bank or financial institution, even if it defaults, since the mortgaged asset serves as a guarantee to pay the debt . But we explain everything to you in greater detail. What is a mortgage? When you buy a home using mortgage credit, you can take out a mortgage to ensure that the money the bank has lent you will be paid. In other words, it is a guarantee . Your financial capacity is assessed at this time in order to understand whether or not you will be able to repay the loan you want to borrow. Thus, the mortgage serves to minimize the risk of default, which is usually the property to acquire. However, it can be mortgaged, too, the property of a third person, and there are banks that accept the mortgage of the borrower’s family home. In short, the mortgage is the guarantor of financing for the purchase of a property, which allows buyers to pay the value of the property over a period of several years. In what situations can the mortgage be cancelled? The scenarios that may involve the cancellation of the mortgage are the sale of a property registered with a mortgage, the payment of the mortgage debt or a situation of foreclosure. Discover each of these situations. When you sell a house with a mortgage When buying a house with the financing of the bank, through a housing loan, you can see, in the future, with the sale of the same property. In this situation, where you sell the property that the bank is paying for, you can effectively cancel the mortgage. In this situation, it can only do so if the money acquired with the sale of the property is sufficient to pay the loan contracted , and must request, for this purpose, the cancellation of the mortgage and proceed to the registration of the sale of the house to the new buyer. When you pay the mortgage debt When you manage to settle the mortgage debt, you can ask for the cancellation of the mortgage, because if you have paid your debt, you no longer need to provide any guarantee. After eliminating the mortgage, you must cancel your registration in a Land Registry and, after having your mortgage loan fully paid, the bank sends you a document confirming the cancellation of this guarantee. In this situation, your contract obligations are fully fulfilled. The document that the bank will send you is called a mortgage . When you expunge the mortgage on the property you bought It can happen to buy a house with a mortgage, and it is possible to cancel it after the acquisition . The law says that the new owner of the mortgaged house can proceed to this cancellation, however, only through a judicial process. Thus, if you have bought a property recently, and it is mortgaged, after registration the purchase will not be responsible for the payment of the previous mortgage. In this situation, you must inform the creditors of the procedure, completely pay all the debts associated with the mortgage or reach a payment agreement with the creditors, which may involve the payment of an amount equal to the value of the purchase of the property. After these procedures, you must file a lawsuit with the court, proving that everything went well. Have you been clear about this? Follow SUPERCASA Notícias for more topics like this and, if you still have questions about how you can sell your home, we advise you to read Formalize the sale of a property: what are the bureaucracies
Source: Freepik Author: Redaction The National Institute of Statistics (INE) advanced this Tuesday with data on the median values of bank valuation in housing, which increased in February, 10 € compared to the previous month . The value is thus fixed at 1,560 euros per square meter, with an annual rate of change of 5.5%, compared to 4.4% recorded in January. This is an increase of 0.6% , with the number of bank valuations around 28.3 thousand. Highlighted is the Autonomous Region of the Azores, with the steepest increase compared to the previous month, of 2.6% . The remaining regions also showed positive variations, however, the Autonomous Region of Madeira was the only one with zero variation and, compared to February 2023, the median value of the evaluations increased 5.5%. It was also in the Autonomous Region of Madeira that the variation was more intense, 19.1%, without any decrease. The INE bulletin also adds that in February, the median value of the bank valuation of apartments was 1,741 euros per square meter , increasing 4.8% compared to the same month last year, with the most pronounced values occurring in Greater Lisbon and the Algarve . In the Centre, on the other hand, the lowest value was recorded. Read: Less residents in Portugal bought a house in 2023 , More and more banks are partners of credit intermediaries
Source: Freepik Author: Redaction If you have not done so, know that you have until next Sunday to donate 0.5% of your IRS collection to an entity of your choice , such as kindergartens, victim support associations, social institutions, volunteer firefighters or homes. The list, which can be consulted on the website of the Tax and Customs Authority, includes 5,037 entities. This IRS consignment takes place every year before the filing of the declaration, which begins as of next Monday, April 1, without any impact on its reimbursement. So, if you are thinking of donating this portion of your IRS, you only have to point out the NIF of the entity to which you want to make the consignment, fill out your IRS declaration 2024 in the Finance Portal and select the option Consignment of 0.5% IRS , selected, then the type of beneficiary entity and the NIF of the entity. Then, just select the IRS option. You can also pay VAT by selecting the IRS option, however, this already impacts your refund. What is the 0.5% IRS consignment? This is a mechanism that aims to help and support entities with an active and relevant role in the community in which they operate . Through this consignment, they can obtain funding for their actions, with the money donated to be removed from the tax due to the State, without any impact to the taxpayer. The consignment of VAT, on the other hand, already implies that the taxpayer abdicates part of his refund , which would eventually be paid by the tax authorities. It is important to note that this consignment should be made until March 31 for taxpayers who are covered by the automatic IRS and who wish to change or add the consignment to an entity of their choice, because if they do not do so, the provisional declaration developed by the Tax Authorities becomes definitive. And remember: the delivery of the IRS statement starts already on April 1, next Monday, having until June 30 to make the submission. The IRS refund will be paid by the State until the end of July. Keep abreast: Natural Gas Social Tariff: 3.1% discount will remain , Public Administrations achieved positive balance in 2023 and Change of time occurs next Easter Sunday
Source: Pexels Author: Redaction Homefullness is a growing trend in the world of interior design, and it can completely transform the way they are felt and recognized the sensations provoked by the environment of the house where they live. It is a concept that starts from the adaptation between well-being and decoration, aiming to generate feelings of tranquility and balance. And today, in order to transform your home based on this concept, SUPERCASA brings you everything you need to know. What does Homefullness presuppose? The main premise of this concept is organization. Harmony , order and organization are key factors to achieve homefullness in your home, with tricks that, although simple at first glance, can take some time to internalize in your daily life , especially if you live with animals and/ or children. Keeping spaces in order is more difficult than one would expect, however, you can adopt some techniques to maintain visual order, that is, the order you see at first sight. Simple tips to achieve homefullness We know that in the rush of everyday life, especially if you live with other people, it may not be simple to achieve all the goals we propose here, but there are techniques that can help you unravel the order behind the chaos. 1. Decompose and dispose of what you no longer use A harmonious house presupposes serene spaces without great visual confusion , which offer space to relax. Here, to help you in this goal, it is important that you look around you, in the various rooms of your home, and realize exactly what are the elements that cause you anxiety, a sense of disorganization and that make your room seem tighter. These are the objects to be disposed of, if they have nothing to add to your well-being. Simplifying the decor of your home will help you achieve the feeling of homefullness, believing that less is more, and a house with less junk will make you feel more comfortable. 2. Connect with natural elements One of the strategies that can help you achieve an interior harmony with the spaces of your home is through the use of natural elements, such as plants that can spread around your home, in strategic places. Invest in these decorative elements and also make sure, if you have a garden, that it is well maintained and you want to spend more time outdoors. 3. Create sacred spaces An organized life also presupposes taking time for yourself. For this, it is essential that there are, in your home, sacred spaces where you practice your well-being and meet with yourself , either to read a book, listen to music or simply take a nap. Surround yourself with calm and relaxing elements, such as those plants we mentioned above, aromatic candles and neutral colors. The truth is that homefullness may not be for everyone , but it is certainly a step towards a more peaceful and relaxed life, even for the most disorganized. And if you can not put into practice all the advice, the important thing is that you feel good about the space you created for yourself, in your home. Stay for more Lifestyle tips with SUPERCASA Notícias . Find out which pieces to use in the decoration of your kitchen , Discover the 5 most contracted household services in 2023 or Transform your home without spending much money
Source: Pexels Author: Redaction Banco de Portugal released on Wednesday, March 27, data on bank profits, which increased by 80% in 2022 compared to 2023. According to the bank, the banks in Portugal were able to make EUR 5.6 billion last year as a result of rising interest rates. This is already a historic result for the sector. The five largest Portuguese banking institutions, which include Caixa Geral de Depósitos (CGD), BCP, Santander, BPI and Novobanco, managed to reach 4.4 billion euros in profits last year, 78% of the result obtained by the entire national banking system. Thus, the profitability of the sector almost doubled as a result of the increase in profits , from 8.7% in 2022 to 14.8% in 2023, compared to equity, and there were banks exceeding 20%, namely Caixa, Santander and Novobanco. As for the profitability of assets , that is, the level of profits as a function of assets, this doubled from 0.69% to almost 1.3% , with the sector operating an asset of 422.2 billion euros. Read also: Older companies have higher turnover , ECB warns of risks with bad loans
Source: Freepik Author: Redaction The luxury residential market in Portugal continues to grow, with the Algarve, Porto and Lisbon highlighted. These findings are in The Wealth Report , an annual study by consultant Knight Frank, a partner of real estate firm Quintela and Penalva since 2021, which also reveals that one million euros gives only to buy 67 m 2 in Quinta do Lago, while with the same value it is possible to acquire 110 m 2 in Barcelona or 90 m 2 in Lake Como, Italy. The study, sent in a statement to SUPERCASA Notícias , shows that the Algarve is in the top 5 of the world markets in the luxury residential sector, where prices performed best in 2023. According to the study, among the top 100 destinations in the world in terms of price appreciation in 2023, the Algarve appears in fourth position, with a price increase of 12.3%, o nly behind destinations such as Manila (Philippines, 26.3%), Dubai (United Arab Emirates, 15.9%) and Bahamas (15%). With one million dollars, it is possible to buy in Quinta do Lago, in the Algarve, a luxury residence second home with 67 square meters (m 2 ), while with the same value it is possible to acquire 110 m 2 in Barcelona, Spain, or about 90 m 2 in Lake Como, in Italy. The lack of supply and the unique character of Quinta do Lago, explain the sharp growth in prices. Lisbon and Porto continue to grow In the list of cities and regions with annual growth in stable or positive prices are the cities of Lisbon and Porto . The two cities remain on positive ground, with growth in the order of 2.2% and 5%, respectively. Thus, Porto appears in 29th position , ahead of, São Paulo, Rome, Barcelona, Milan or Paris. Already Lisbon, is in 60th place, and surpasses cities such as Dublin, Vienna, Tokyo, Berlin or New York. The Knight Frank study also reveals that the price of luxury real estate in Lisbon is still expected to grow in 2024, in the order of 2.5%, being preceded by Seoul, South Korea, Zurich, New York or Paris. For Francisco Quintela, CEO of Quintela e Penalva, Knight Frank’s partner in Portugal , Lisbon remains on the radar and is in the top 10 of the survey in terms of location for new buyers, as stated in The Wealth Report. The forecast for growth in luxury prices in Lisbon remains very significant, as demand remains very strong in the luxury housing market, particularly in Lisbon, Cascais and Comporta, where the demand for luxury properties has increased significantly . He adds that this reality is mostly corroborated by the interest and realization of business by foreign investors, with high investment capacity. According to The Wealth Report, which tracks the performance of luxury properties in 100 key locations (including cities, sun and ski destinations), 80 locations experienced stable or positive annual price growth. Manila (26%) leads, but last year’s leader Dubai (16%) fell just one place. Asia-Pacific (3.8%) overtook the Americas (3.6%) to gain the title of best-performing world region, with Europe, the Middle East and Africa lagging behind (2.6%). As predicted last year, sunny locations continued to outperform, with an average increase of 4.7%, closely followed by ski resorts (3.3%) and cities (2.7%). According to Knight Frank’s The Wealth Report 2024, the number of UHNWIs in Portugal - those with a net worth of $30 million or more - will increase by 25%, reaching 1000 individuals by 2028. For Kate Everett-Allen, Head of International & Country Research at Knight Frank , in the note to which SUPERCASA Notícias had access, this fact, combined with the expectation that the ECB will start reducing rates in the summer, along with the recovery of the tourism sector in the country, will attract more second home owners and investors. It is thus expected that luxury prices will increase 2.5% in Lisbon in 2024. Follow more topics like this in SUPERCASA Notícias
Source: Freepik Author: Redaction Last Friday, March 22, Iberinform released data on the temporary work sector , which has seen solid growth in recent years. More than half of the companies were founded in the last five years, however, it is the oldest companies that have the highest turnover. The majority of temporary employment companies, 56%, were founded in the last five years, while 27% are between six and 15 years old. Only 11% were established 16 to 25 years ago, and 6% are over 25 years old. However, companies with more than 25 years lead in terms of turnover, representing 40% of the sector , says the consultant Iberinform. In this sense, the most recent companies (with two to five years), hold only 8% of the turnover of the sector , comparable to companies with 11 to 15 years. On the other hand, companies with 6 to 10 years represent 10% of turnover, and those with 16 to 25 years are responsible for the largest share of total turnover, 25%. It is micro and small companies that dominate the sector, with about 89% of temporary employment companies having this size, while only 9% correspond to medium-sized companies. Large companies account for 2% of the sector, however, in terms of turnover, microenterprises contribute only 1%, while small companies earn 23% and medium-sized 34%. Large companies, despite being only 2%, lead in terms of total turnover, with 42%, as highlighted by the data. In addition to these data, it was possible to conclude a significant concentration of temporary work companies in the main urban centers of the country , and the highest percentage, 36%, is located in Lisbon , followed by Porto , with 14%, Braga , with 10%, Setúbal , with 9%, and Santarém with 5%. There is thus a greater liquidity and financial health , since there is an improvement in the efficiency of the accounts payable management . For more related topics, read: 58% of entrepreneurs admit to having social and political concerns , Companies show signs of slowing in recruitment or Trend: fewer companies are born and more close in Portugal
Source: Freepik Author: Redaction According to the latest study by Condé Nast Johansens, entitled Luxury Holiday Habits, Portugal is considered the sixth favorite destination of tourists for luxury holidays . There are several tourism awards that our country has collected in recent times, continuing to build its reputation. The lifestyle reconciled with the beaches and landscapes of the Portuguese coast attract thousands of visitors every year, however, the bar is now raised by the recent study of the reference guide in the luxury travel sector, that places Portugal in the Top 10 of the most sought after countries for this type of tourism. Of the travelers who reported travelling outside the UK, Spain stands out as the preferred destination with 30 percent, then follows France (27 percent), Italy (19 percent), Greece and the United States (with 17 percent) . Portugal is in sixth position, with 16% preference. As it was possible to ascertain, the average income of tourists in the luxury segment is about 100 thousand euros per year, with the average expenditure per traveler around 8 thousand euros. Related: Cascais is recognized as Green Destination
Source: Pexels Author: Redaction The Algarve region has been affected by the lack of housing , particularly in the tourism sector, because there are no houses, there is no capture of labor . In this sense, the Association of Hotels and Tourist Developments of the Algarve (AHETA) warns of this situation, showing willingness to build social housing that houses the workers of the area. To this end, they are asking for land exchanges at more reasonable prices than those in the market, but there has never been a response from the Government, and Hélder Martins, President of AHETA, underlines: if today we have to import manpower, we can only really attract workers who come from outside if we give them housing, without that it is no longer possible. Thus, to encourage the capture of more manpower, hotels are willing to move forward with a model of simple construction, not for rich for social housing on the outskirts of the city, namely in Loulé, Albufeira and Portimão, in order to ensure accommodation, as well as transport for displaced workers. However, the President of the Intermunicipal Community of the Algarve (Amal), and also Mayor of Olhão, António Pina , reiterates that the municipalities do not have these lands to be made available , adding that, even if they had them, they would be allocated to the construction of public housing for the Algarvian, who cannot afford a house . Discover also: Overnight stays in tourism registered a slight decrease in January
Source: Freepik Author: Redaction The outgoing government of António Costa approved in March last year a project to expand the Metro Sul do Tejo that is now beginning to take shape, and the use of 1.65 million euros has been approved for the studies necessary for the development of the works, possible extension of the Almada metro lines to Costa da Caparica. According to the Lisbon Metro, the project aims to promote a quick and structuring link between the University Campus of the Faculty of Science and Technology of the New University of Lisbon and Costa da Caparica, extending into a corridor that will serve Trafaria, São João da Caparica, Quinta do Torrão, Quinta de Santo António and Costa da Caparica, ensuring a better connection of this territory to the current network of the Metro Sul do Tejo. And they justify: Metropolitano de Lisboa was the public entity chosen by the Government to carry out these works by the national and international experience it has in this field and given the nature of the project, the degree of complexity of the procedures inherent to the implementation of investments in public transport systems on own site (TCSP) of high capacity and the deadlines associated with financing under the Climate Action and Sustainability Program (PACS). In total, the work could cost around EUR 3.1 billion , having been considered a priority by the State, and hence be included in the PACS. More themes like this: Lisbon is the 18th city with the most population in the EU and Lisbon will compensate Lumiar in € 1.14M for cadastral error
Source: SUPERCASA Author: Redaction 2 bedroom apartment in Cascais, Lisbon - 287.000€ 1 bedroom apartment in Cascais e Estoril, Lisbon - 435.000€ Semi-detached house T3 in Olhão, Algarve - 730.000€ House 3 Bedrooms in Grândola e Santa Margarida da Serra, Setúbal - 995.000€ And find more variety of properties in supercasa.pt
Source: Freepik Author: Redaction Approved by the Council of Ministers at the end of last month, the new system of incentives for investments in strategic sectors will come into force this Wednesday, March 27, under the Contractual Investment Regime (RCI) and under the Temporary Framework for Crisis and Transition. This system has an estimated allocation of EUR 1 billion and will be supported by the State Budget as well as by AICEP’s own revenues and balances of own revenues of governmental bodies of the economy , except those from repayment balances of beneficiaries of European funds as well as in European funds, depending on their eligibility and the nature of the investments. Refundable or non-refundable, these support incentives will be different according to the typology of the projects and the results of the analysis of the indicators of evaluation and performance of the promoters, carried out by AICEP, and their implementation may occur until 2030 without prejudice to the possibility of using guarantees on loans or tax benefits depending on the applicable legal framework. To be prepared since 2022, this incentive system now joins the previous mechanism created last year to support projects of large companies, being the responsibility of AICEP to give the green light to funds to reinforce the financing of projects of large companies, within the scope of the RCI, resulting from their best assessment of the incentive effect and cost of inherent opportunities, and alignment with the defined sectoral priorities , indicates the resolution. However, the management, monitoring and implementation of the financial support granted is headed by Compete. On the creation of this system, the Government indicates the opportunity to reinforce the capture of structuring investment for the country, identifying a broad set of expressions of interest from potential investors, from multiple backgrounds , who can set up Large Strategic Projects for the country, involving a very significant investment scale , and whose scope tends to converge with the level of implementation seen over the previous seven years in measures at the level of Strengthening Research, Technological Development and Innovation, the different investment priorities under the Contractual Investment Regime (RCI), as well as the eligible investment contracted under the Productive Innovation - RCI . In the diploma it is possible to read that, between the approval at the end of February and the publication in Diário da República, this new system of incentives for strategic investment was endorsed by Brussels , taking into account the special expected impacts of these projects from an economic and social point of view and also, in particular, the contribution they can make to the objectives of strengthening investment in strategic sectors, with decarbonised and circular industry, leveraged in the energy transition and the development of a data economy, anchored in the digital transition . It is important, in this sense, and as the diploma calls for, to create conditions to establish these investors in Portugal. Other topics that may interest you: Coimbra wants to attract more technological investment , Portuguese reveal concern about mobility and Portugal was the seventh largest beneficiary of the EIB in 2023
Source: Freepik Author: Redaction The Secretary of State for Energy and Climate announced this Tuesday in Diário da República, the order that anticipates the submission of the proposal for natural gas tariffs for the period between October this year and September 2025. Thus, the social tariff for the regulated natural gas supply will remain in force in 2024, maintaining the 31.2% discount applied to the transitional tariffs for sale to final customers, from which the applicable VAT, taxes, contributions and default rates are excluded. Thus, from October 1 of this year, the discount will be applied, being, as stated by the Secretary of State, Ana Fountoura Gouveia, a measure urgent and unavoidable , being the Regulatory Entity of Energy Services (ERSE) responsible for submitting the proposal, which should present by the end of March. The social tariff is a mechanism for protecting economically vulnerable consumers and combating energy poverty, translated into an important instrument of public policy and social justice, ensuring access to this essential service with less financial effort and greater tariff stability for this universe of consumers, as indicated in the dispatch. The same law states that the operationalization of the measure will consist of an automatic application of the discount in the tariff of access to gas networks at low pressure, allowing the increase of the its scope, ensuring its applicability regardless of the intervention of its beneficiaries. Related topics: Do you know how much you spend preparing food at home? Discover , Renewable energy reaches one of the best European registers and ERSE recommends consumers to consult simulators
Source: Freepik Author: Redaction The Bank of Portugal (BdP) released this Monday, March 25, its report monitoring the macro-prudential recommendations, where it reveals the profiles of new customers of housing loans contracted in 2023 . According to the analysis, the profile of new customers improved , despite not being directly comparable with that of previous years. According to the bank, 61% of new residential credit customers have a low risk profile, meaning that they are customers with effort rates less than or equal to 50% of their income, as well as a Loan to value ratiowhich means the amount borrowed by the bank against the value of the property, less than or equal to 80%. As explained by the BdP, since 2018 there has been an improvement in the risk profile of borrowers who contract housing loans, and last year there was a clear growth in housing credit agreements granted to clients with a low-risk profile, which increased to 61% in 2023 from 49% in 2022. Average age of buyers is 30 years It was also possible to determine the weighted average maturity of new home loans, which stood at 30.6 years of age during the month of December last year. This means that banks are complying with the recommendations to converge the average maturity for 30 years, however, in the European Union (EU), Portugal is one of the countries with the highest average maturity. On the duration of loans, this is usually tens of years, so it is up to the banks to assess the ability of the customer to continue with the payment of instalments if interest rates increase. In this sense, the rate of effort that banks have to simulate to facilitate access to credit has been reduced from 3% to 1.5% in order to increase interest rates. Keep abreast ECB warns of bad credit risks