IMT and Stamp Duty exemption has already benefited 100,000 young people in the purchase of their first home in Portugal.
Source: Adobe Stock
Author: Redaction
IMT exemption boosts home buying
The exemption from IMT and Stamp Duty on the purchase of a first home for young people up to 35 years old has already benefited around 100,000 young people, according to the Government. This IMT exemption measure has been highlighted as one of the main tools supporting access to housing, helping reduce upfront costs when buying a home.
The impact of the IMT exemption is reflected in the real estate market, with average transactions around 200,000 euros. Many beneficiaries are middle-class young people, including doctors, engineers, workers and entrepreneurs, who were able to buy homes through this housing support.
Government aims to complete Construir Portugal programme
The Government intends to complete the implementation of the Construir Portugal programme by the end of the summer, reinforcing several housing-related measures. The goal is to consolidate housing policies, including legislation on real estate mediation, condominium management and housing cooperatives.
The IMT exemption is part of a broader set of housing policies that the Government considers essential to increase supply and improve access to housing. According to the Housing Minister, the housing programme should be fully implemented in the coming months.
Among the measures in preparation are also new rules for modular construction, which could scale up the sector and strengthen the response to growing housing demand.
Housing fiscal package sparks debate
The so-called housing fiscal package, which includes tax benefits such as reduced IRS for moderate rents and reduced VAT on housing construction, took around eight months to progress through the legislative process.
The IMT exemption was one of the measures that advanced more quickly, contrasting with other housing policies that remained under discussion in Parliament for longer. The Government notes that some proposals were modified during the legislative process.
Despite delays, the goal of housing policies remains focused on increasing housing supply and creating more affordable conditions for young people. The IMT exemption continues to be highlighted as one of the most effective measures in promoting access to housing in Portugal.
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