Source: Pexels Author: Redaction The Government approved a diploma that defines the conditions in which it should be proposed the renegotiation of credit by banks. This document has as its main objective, to avoid situations of default by its clients, and may present benefits such as: reduction in the value of the monthly instalment or the abrupt impact on the increase in the value of the monthly instalment associated with the credit, something that can be advantageous for both banks and clients. The process of renegotiating your mortgage loan may allow you to achieve greater relief in terms of your financial costs, by extending the repayment period of the loan, reviewing the associated spread or even by attributing grace periods. The scenario for this type of renegotiation must be considered based on analyses made by the banks to the financial capacities of families with active mortgage credit contracts, in a context of a significant increase in effort rates. Therefore, in the event of risk of contractual default, the bank should take the initiative to make a renegotiation proposal available. Was this information helpful? Read more in Mortgage Loans: The new rules and Euribor closes November with record highs
Source: Pexels Author: Redaction This initiative, promoted by ECoD gemeinnützige GmbH, has the partnership of 16 countries and is being launched together with the Institute of Political Innovation. In July this year, twenty-two cities competed for the title of first European Capital of Democracy , after which the town of Cascais and the city of Valongo went through to the second phase, along with ten others, which did not make it through. The final list, which includes three finalist cities - Braga, Barcelona and Brussels - was drawn up by a jury of experts and the selection of the winner will be made through a vote held by ten thousand citizens of all member states of the Council of Europe, already in January. The Mayor of Braga, Ricardo Rio , said: This is another reason for pride for Braga and its institutions. Being part of this shortlist alongside two of the main European cities, such as Barcelona and Brussels, is the clear recognition of the success of our policies to open the democratic decision-making process to the whole society, to strengthen citizenship and to promote a strong collaboration between all the agents of development that have been crucial to the success of all municipal policies , something that reinforces the attractiveness of the city. The winning city, in addition to being awarded the title of European Capital of Democracy, will benefit from a number of advantages, including the recognition of its international reputation as a centre of education and innovation and the opportunity to host meetings and events of European political leaders. Read more: Portugal in the Top 5 of the best countries for expats and Real Estate Market fuelled by foreigners
Source: Pexels Author: Redaction In the last decade, Portugal registered a decrease in population , accentuating the imbalances in territorial distribution, but on the other hand there was a 37% growth in the foreign population in Portugal. All this has contributed to changes in the real estate sector , which until September will have seen a positive evolution. Following the new data from the Census 2021, SUPERCASA Notícias has conducted a survey on new construction in Portugal, trying to understand the evolution of this sector and the challenges that are being faced following the current economic context. It was possible to ascertain, from data provided by INE (National Statistics Institute), that in September 2022 the costs of new construction suffered an increase of 13.4% in homologous terms, making an increase of 0.9 percentage points over the previous month. This means that the price of materials, in addition to the cost of labour, indicated year-on-year changes of 18.6% and 6.1%. The greatest constraint lies in the increase in the cost of construction materials, energy and raw materials, especially cement, which according to the Associação dos Industriais da Construção Civil e Obras Públicas (AICCOPN) will have seen an increase of 1.9% compared to 2021. On the other hand, there were positive results in terms of municipal licensing in the first eight months of the year, with 6.4% of the area being licensed in the same period. Residential buildings are no exception to this trend, with a 1.6% increase in new housing permits. The new constructions in Portugal show a positive expansion, even in the concession of new housing loans, which until the end of August reached a total of 10,900 million Euros, which means a growth, in the same period, of 11.4%. Did you like our news? Read more on Forecasters estimate a slowdown in the inflation rate in the Eurozone
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