Source: Freepik Author: Redaction Following the More Housing Programme , a series of measures will come into force that contemplate, among the various axes, the increase in the available housing supply. The demand for affordable housing is growing and, in this scope, the Government has prepared some trump cards. We are talking specifically about the IRS exemption on capital gains that result from the sale of property to the State , municipalities and Autonomous Regions. Thus, the number of public dwellings will increase and it will be possible to promote affordable rentals. This is a proposal that will be debated in Parliament already next week, on the 19th of May. According to the Proposed Law No. 71/XV/1st: gains resulting from the sale for consideration, to the State, to the Autonomous Regions or to the local authorities, of residential property will be exempt from personal and corporate income tax. Currently, 50% of the value of capital gains is subject to the progressive IRS rates, so there would be an exemption from this tax. However, two exceptions are provided for: When from the sale of a property to the State the gains realised are obtained by residents with tax domicile in a territory, region or country subject to a more favourable tax regime - offshore. When the gains realised from the sale of property to the State are derived from property situated in an urban rehabilitation area. In this case the council can activate its pre-emption right. The law also states that income which is exempt from the payment of IRS on capital gains is compulsorily aggregated for the purposes of determining the rate to be applied to the remaining income . Other exceptions If you sell your house (which is not your own residence property) to amortise the mortgage of your own permanent property, you can also benefit from the exemption of capital gains. The Government has already announced its intentions to suspend the 36-month period between the sale of a property and the reinvestment in another one, giving families more time to invest the capital gains in the purchase of another home of their own. However, to ensure the IRS exemption, before the sale, the property will have to have been the taxpayers own and permanent home or that of his family, as proven through the respective tax domicile, in the 24 months prior to the date of transfer . However, those who made this transaction in the year in which they made the gains and in the three previous years cannot benefit from the capital gains exemption, unless they can prove exceptional circumstances . Tax exemption for accessible renting According to the Government note, housing placed on the market under the Affordable Housing Programme will now benefit from zero taxation. To these will be added zero taxation in terms of IMT and IMI, provided that these are actually intended for affordable housing. In terms of taxation, the Government explains that a zero taxation rate on property income will be applied to all owners of local housing that during 2023 to 2024 decide to move from local housing to the rental market, until 2030. As for the taxation that results from property income, there will be a decision of the general tax rate, which will go from 28% to 25%. This rate, applicable to contracts between 5 and 10 years, will fall from 23% to 15% for IRS purposes, while in contracts between 10 and 20 years, the rate will fall from 14% to 10%. In contracts with a longer duration, over 20 years, the rate will go down from 10% to 5%. More Housing related themes: Works in Lisbons municipal districts to start this year , Statistical Synthesis of Housing - February 2023 or Applications to Porta 65-Jovem open until 30th May
Source: Freepik Author: Redaction About 50% of the Portuguese are already choosing to exchange their current property for houses with smaller areas and lower values to avoid the risk of defaulting on loans, in a period when rising interest rates are putting increasing pressure on family budgets, reveals imovendo in a statement to SUPERCASA Notícias , after analysing a survey of more than 800 people. The proptech survey also revealed that 20% of owners who put a property up for sale in the first quarter of the year did so to fill the needs that are accumulating due to inflation and rising interest rates. Many Portuguese homeowners are currently more focused on ensuring they can comfortably pay off their home loan than buying the biggest or most luxurious property that the family budget allows , highlights Miguel Mascarenhas, co-founder of Imovendo , pointing out that the trend of people looking to switch to smaller homes is not new, but it has accentuated significantly in this first quarter of 2023. The impact of rising interest rates has been huge. In my case, my instalment that started, in 2021, at €400, has gone, in 2023, to €700. Not all families will be able to afford these increases, confessed one of the respondents - who preferred to remain anonymous - who is trying to sell his house outside major centres like Porto and Lisbon . The significant number of homeowners selling their properties to meet financial needs reflects the deepening economic uncertainty and difficulties in the budgets of Portuguese families. Although there is still a significant proportion of homeowners putting their homes up for sale due to family changes (46%), the rate of people who have moved on due to monetary necessity is already significant and worrying. It is necessary that the government reflects seriously on this change, since the rental market is also quite inflated, stresses the head of proptech in the note to which SUPERCASA Notícias had access. Read also: IRS reimbursements have started to be paid , Mortgage loans: what should be proposed in a renegotiation or More Housing Programme: find out how much you can save on your mortgage
Source: Freepik Author: Redaction With the evolution of the digital world the impact on the real estate market was notorious, caused by the use of new technologies. The internet has become a world and the main means to advertise a property and raise excellent business opportunities. The demand of this evolution requires real estate agents new communication skills between them and the owners or potential buyers. Following this premise, the SUPERCASA gathered a set of tips that you should take into account when advertising your properties on the internet, thus quantifying the value of the respective property. #1 Identify real estate professionals This task is one of the most important when thinking of selling your property. The process of buying and selling a property implies several procedures, legal and contractual issues, for this it is necessary to have some knowledge of the real estate market what demands some time of research and work. To resort to an estate agent makes this process more efficient and faster, for the knowledge and experience that the same already has of the sector, and will be able to advise of the best form in all the stages of sale. #2 Detailed and appealing description of the property Try to detail as much as possible the characteristics of the property in order to capture the attention of the potential buyer. Describe properly the property, emphasizing to the maximum important details that can give more prominence to your property. There are many points that should highlight and one of the most important is the location, proximity to services, schools, supermarkets, this will further enhance the value of housing. Also talk a little of the area in which the property is inserted. Ensure contacts, email, mobile phone numbers, and try to respond with maximum readiness, communication facilitates most of the relationship established with the interested parties. Use common language, you are interacting with a wide audience, it is important that they understand your approach. #3 Good image gallery Photographs capture most of the potential buyers interest. Choose to photograph the property when it is tidy, clean and with good lighting. This method will be the business card of your property. #4. Choose a platform to advertise your listing The process of selling a property becomes more effective and faster through the platforms of disclosure. SUPERCASA is the National Real Estate Portal for disclosure of property, with presence in the main international markets, for those who are looking for a house in Portugal. Designed to meet the needs of its users, both professionals and individuals, the SUPERCASA is available in web version, mobile and App. The process of selling a property can be demanding, but choosing to sell online will not only facilitate the procedure, but also make it more appealing and interesting for a generation that increasingly lives in the digital world.
Source: Pexels Author: Redaction Buying a house is a big step, and often people are looking for a house for the rest of their lives, in these parameters are more demanding, because they are looking for a property that meets their needs and dreams. Currently many buyers are more demanding in the selection of houses they want, in this sense as a seller avoid failures and try to meet the demands. In this article you will find a set of tips to avoid failures in the sale of a property. #1 Neglecting a professional One of the first mistakes you can make when you want to sell a property is not hiring a professional consultant to support and help you with the necessary skills. A professional knows how to value your property and essentially knows how to evaluate the possible buyers. Selling a property privately will take longer than resorting to a real estate consultant. #2 Emotional connection with the property Often sellers of the property simulate a higher asset value by the sentimental value they attach to it. These characteristics often cause owners to lose good deals. #3 Empty rooms and not depersonalizing the property Sometimes selling an unfurnished property can become an obstacle to its sale. Many buyers look for the potential of each room, try to furnish the house with neutral furniture and allow buyers to analyze and idealize the space as if it were a model home. #4 High price Putting a property for sale with a price above the market value is a common mistake. Try to establish a fair price that fits the market prices, so you will have more chances to sell the property faster and acquire more visitors and proposals. #5 Not clarifying possible problems with the property When you schedule the first visit to the house, clarify right away the flaws that the property has, try to be as true and honest as possible, even if the flaws are insignificant. #6 Not giving buyers space To make potential buyers feel more at ease, give them space to get to know the house and share opinions with each other. #7 Poor quality photos in the ad Often what counts in attracting potential buyers are the photographs taken and posted in the advertisements. The market these days compares immensely through what the eye sees. Investing not only in good decoration but also in a pleasant environment for photographic production is essential. Remember when you think of selling a property it is essential to do a thorough cleaning and necessary repairs to later put the property for sale. The valuation of the property, cleaning, decoration, repairs, lighting, sun exposure are important features that should be taken into account when you intend to sell a property. Without forgetting that a professional consultant can also be a great help to find successful deals.
Source: Pexels Author: Redaction According to the latest data from the Rustic Property Working Group ( GTPR ), about 30% of the rustic properties are not currently updated in the inheritances. The proposal is under study to apply deadlines for the updating of these processes, where they drag on for various reasons, for example, the absence of wills where the partitions take place. All the measures sent by the GTPR , which aim to improve this aspect, will be reviewed and put forward for possible approval in the month of November, where they will be made known to the rest of the public. For now, we refer to the main measure of stipulating a specific deadline to define the divisions of land and inheritances. At the moment, there are 11.5 million rural properties in Portugal, and according to Rui Gonçalves, coordinator of the GTPR , the present situation cannot be maintained giving priority to the agreement between heirs. Read more in Process of sale of inherited property and Bureaucracy in the qualification of heirs.
Source: PURE Author: Redaction The commercial value of the two properties exceeds 10 million euros, with the penthouses having been sold to foreign investors who represent about 80% of the buyers of the Promenade, recently completed on Avenida 24 de Julho, according to a statement sent to SUPERCASA Notícias. Inside the luxury flats, with an area of 670 sq. m and 970 sq. m respectively, the large windows allow one to enjoy the luminosity of the city of Lisbon and the panoramic view of the waterfront, where the quality of life comes naturally from the proximity to the Tagus River. In the penthouses all the details and characteristics reflect refinement and exclusivity. They bring together high quality finishes and equipment that allow an experience of comfort and modernity, among them, the direct and exclusive access to the roof of the building where there is a private terrace with swimming pool, the Gaggenau marbles and kitchens, the heated floors, the home automation system that makes these houses intelligent. All the bedrooms are en-suite and some include a walk-in wardrobe. The largest penthouse is composed of six suites, plus one designed to serve the staff, a living and dining room of around 90m2 and a roof terrace with an exclusive pool of around 355m2. Privileging the concept of privacy, these flats have parking boxes for up to six cars, which, through a private lift, allow direct access from the box to the interior of each of the units. Besides the parking spaces, this space has a fully equipped pantry, bathroom and electric vehicle charger, making it the ideal space for some different concept: a living room, a games room or any other use that fits the family dynamic. In the five housing floors, the Promenade has 36 flats and four penthouses, of typology T1 to T6. The development also has an exclusive SPA with gymnasium and indoor swimming pool, designed in a contemporary architectural style. With the development concluded, all that is awaited is the issuing of the usage license, requested more than a year ago, so that the houses can be delivered to the buyers. AM|48 is responsible for the promotion of several quality developments, not only in new construction, but also in urban rehabilitation. From its portfolio are part of the enterprise Ópera Lx, in the middle of Avenida da Liberdade, the Focus Lx in Avenida António Augusto Aguiar and the The Boulevard, in Praça dos Restauradores. AM48 is currently developing new projects in Lisbon, Aveiro and the Algarve.
Source: Pexels Author: Redaction When you want to sell a house, sometimes the idea of being a good property at a good price is not enough, you have to gather creativity in order to close the deal as quickly as possible. Currently it is possible to verify adversities in the real estate market and it is necessary to innovate to reach potential buyers. That is why betting on creative methods can be a solution. We have gathered some tips that may help you: #1 Determining the target audience The way you approach the potential client can be determinant. Conveying a message that is accurate will help you reach exactly the target audience you want to reach. When publishing real estate ads you can target a certain niche, for this you need to organize and define business goals. #2 Value Perception Demonstrate to the target audience the value of a certain property, that is, social values and quality of life that a certain location has to offer. Extracting the maximum of positive points that highlight the property in question is one solution. #3 Creative and associative description Adapt the text sent to the public with excerpts that capture the attention of the potential buyer and leave him intrigued wanting to know more about the property. #4 Promote your house in the SUPERCASA portal dedicated to real estate It is only necessary to know how to advertise your property, allowing access to a vast number of potential buyers. If you want to sell your property and close the deal as fast as possible, we have a solution for you.
Source: Pexels Author: Redaction The business has come up and you need to have everything gathered and organised to be able to deed it, but we are not always aware of the documents required for this. Knowing how all the paperwork and bureaucracy of this deed is done is bound to seem a little confusing. Five important documents are needed for the sale, being them: Caderneta predial This document is like the identity card of the property, as it refers all the particularities of the property, it is issued by the tax and customs authority. It is necessary to login in the finance portal to obtain this document in PDF format, if you dont have a password to do this process you should request it. Certificate from the Land Registry To obtain this certificate you can do it online or at the registry office, however, please note that the online prices are more affordable and are around 15 euros. After requesting and filling in the form, you will receive an e-mail with payment instructions, and after payment, you will be informed of the access code to access the certificate on the website. Housing Technical File This paper provides information about the description of the technical and functional characteristics of the dwelling property, which was once called the book of works. All the works carried out on the property will be presented in this document so that the property has proper transparency in the market. Licença de utilização For properties after 1951 this document is necessary (previous ones are exempt, but with the date of purchase) and4 its issue is the responsibility of the council where the property is located. In the absence of this document one should go to the town hall and make the request. There is no fixed price to obtain this type of document. Energy Certificate All properties need this certificate, which mentions the energy efficiency on a scale from F to A+, the latter being the most efficient. If you dont have this document, you will need a specialist technician authorised by ADENE to assess the property and subsequently issue the certificate. After gathering these documents you can go to the house deed with your personal identification documents.
Source Pexels Author: Redaction Filling out the IRS is always an extremely important annual step, remembering that it must contain all the information about the route you took that year. If you have sold a house and want to know if you should declare the same in the IRS this article will give you that same information. To begin with, yes, the sale of the property must be reported in the IRS, more precisely in annexes G1, box 5 - if the property was prior to 1989 - or G, box 4 - if the property was after 1989. If the sale originates from partitions, inheritances or parcels, you will have to fill in both annexes. The extra expenses components are also accounted for in the IRS, such as improvements to the property, energy certificates, IMT, stamp duty or even the costs of real estate mediation. The capital gains are calculated based on the profit made on the sale of the property, that is, if you sold the house at a higher price than it is really worth in the market and if you didnt use that value to buy a new home. In the IRS calculation, only 50% of the value is subject to tax so that in the end all the applicable deductions may be exercised. There are also exceptions where the capital gains tax does not exist, that is, houses before 1989 or situations where the profit value of the sales of the house is applied to the purchase of another with the same purpose. Having said this, it is important when filling out your IRS form to include the sale of the house so that everything corresponds to the legality of the process.
If you are looking to sell a property, in the month of May the probability of sale increases for those who place ads. According to the Zillow Group, an online company from the United States of America, the volume of supply of properties for sale in the first half of May increases, managing to speed up the process by about 18.5 days. However, the months of March and June are also favourable. They add that the most beneficial day of the week to promote and place ads for sale is on Saturday. This is because they have seen a 20% increase in visitors compared to the other days of the week. In relation to the seasons of the year, the Group mentions spring and autumn, since the days are longer and with milder temperatures, facilitating a greater availability on the part of the interested party in the house search. In the summer people choose to take holidays and leave their cities/homes. It will not be proposed the sale of property in this season, try to avoid as much as possible. Holiday seasons, according to the US company, the probability of selling a house to people looking to buy during the busiest period is relatively low.
When you own a property and want to sell it, you try to do it quickly. Many times this process is delayed due to the lack of application of some indispensable details to close a deal. Try to put yourself in the possible buyers shoes and think how he would like things to be done. This ability to put yourself in the other persons shoes will be a fundamental step towards doing a good deal and doing it faster. Follow some tips #1 Get rid of as much as possible That is, since you are going to sell your house, take the opportunity to go through the junk that you no longer need and is just taking up space. You will feel a relief and the house will be in better condition for when you visit. #2 Gather information Make sure you are well informed about the sale you are making and especially do not hide information from your potential buyer, be honest and have the right answer to everything you are asked. #3 Advertisements in several channels Look for ways to place your ad in several places in order to reach more people. #4 Important details Make reference to the area where the property is located and emphasize places like supermarkets, pharmacies, schools, etc. It is important to mention these details to sell your house, describe the information in the ad, but focus only on the most important. #5 Price Make an evaluation of your property to guarantee a fair value, so your sale will be honest and you wont have problems later on in the real estate market. Please note that you should be consistent in the price and the description of the property. The right thing to do is to make personal contact and not directly in the ad. #6 Hire an estate agent If you have great urgency in selling your house try to hire an estate agent. Bear in mind that later on you will have to pay them your commission. But it can be a good strategy if you are in a hurry, and think that you dont spend money on ads and marketing because the agent will do that work for you. #7 Visiting hours Try to set a schedule that is advantageous also for you, for an aesthetic point of view. #8 Photographs Look for that the photographs you will share of the property are of quality, and especially that the rooms of the house are presentable. Images are the business card to sell the property, focus and bet on them. #9 Remodelling Try to make small repairs and remodeling in the house, the sale will be faster. Painted walls, deep cleaning, shining ceramic tiles, its a great value for the property.
According to data by Eurostat, in 2021, the number of housing transactions, when compared to 2020, increased in most EU member states for which data is available. This increase comes after a drop in almost all countries in 2020 compared to 2019. Data on the number of housing transactions is available for 16 EU countries, the statistics office says. The largest increases in the number of transactions in 2021 were recorded in Spain (+39.3%), Bulgaria (+39.0%), Hungary (+22.9%) and Ireland (+22.2%). Two member states recorded a decrease in the number of housing transactions, the Netherlands (-3.2%) and Luxembourg (-0.8%). In this ranking, Portugal is in seventh place to register the highest increase, within the EU 16, with 19.4%. Eurostat also says that the growth in the number of transactions in 2021 followed a drop in 2020, when the Covid-19 blocking measures were implemented, in particular in the second quarter of 2020, leading to a temporary suspension of real estate activity in some countries. Housing transactions hit new record in 2021 According to data revealed by the National Statistics Institute (INE), specifically the 2021 Construction and Housing Statistics, 165,682 homes were transacted last year, which is a new high in the available series and a 20.5% growth relative to 2020. The same data states that of the total, 21.6 billion corresponded to transactions of existing homes (+34.2%) and 6.5 billion to new homes (+21.7%). The value of these transactions reached 28.1 billion euros, 31.1% more than in 2020. In 2021, the number of bank appraisals for housing credit exceeded 123,000, representing an increase of 24.8% compared to 2020 and a new high since 2009. According to the INE, this is the second year in a row in which the difference between the number of assessments and the number of housing transactions rose, from 71.8% in 2020 to 74.4% in 2021. House prices: Eurozone increases to 9.8% and Portugal to 12.9% According to data revealed by Eurostat, house prices rose, 9.8% in the euro zone and 10.5% in the European Union (EU), in the first quarter, with Portugal showing an above average increase (12.9%). Compared to the previous quarter, between January and March, house prices increased 1.7% in the euro zone and 2.1% in the EU.
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