OE2024 aprovado: O que muda na habitação?

OE2024 approved: What changes in housing?

The Assembly of the Republic approved the State Budget for 2024. According to the Government's communication, after approval, Prime Minister António Costa ensures that Portuguese people will now have "a budget that continues the trajectory of income improvement, promotes investment, and protects the future." Let's find out what changes in terms of housing.

05 Dec 20234 min

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Planning to save on your mortgage payment in 2024? It is possible... Contact us and find out how we can help you have a lower monthly installment. But first, understand what will change for the better in housing in 2024.

Approval of the 2024 State Budget: What are the housing impact measures?

With the newly approved State Budget for 2024, the planned measures will move forward, continuing "the trajectory of income improvement, promoting investment and protecting the future," according to the current Prime Minister António Costa, in a Government statement.

But what are the measures foreseen in housing that will have a (positive) impact on the income of the Portuguese? Let's go through each one:  

  • Early redemption of retirement savings plans (PPR) without penalty extended to 2024: The proposal from the PS party allows for the extension of the possibility of early redemption of PPR funds to pay for housing credit, without any penalty or limit on the amount to settle installments, will remain available until the end of 2024;  
  • Recovery of capital gains tax on housing: People who sold a housing property and have not reinvested the money, even though the 36-month deadline has passed, can now do so until the end of 2024 in order to replace the IRS declaration and request a refund of the capital gains tax. In addition, gains from sales of land for construction that are sold to the State, autonomous regions, public entities in the housing sector, or local authorities, are exempt from capital gains tax;  
  • Extension of fixed installment credit to micro and SMEs: Small and medium enterprises will have the right to support already in force for families, being able to fix credit installments through a similar model. In conjunction with the Bank of Portugal, the Association of Banks and associations representing companies, "the necessary adaptations to the temporary fixed-rate credit regime" are being applied to ensure "its application to micro, small and medium-sized enterprises", as can be read in news shared by Notícias ao Minuto.
  • Creation of an Emergency Housing Fund: The proposal comes from Livre and aims to create an Emergency Housing Fund in order to "provide emergency support to those who are deprived of their housing and have no alternative solution, namely guaranteeing the payment of temporary accommodation", but also to "ensure support for the payment of rent due to leasing or subleasing for housing purposes, or for the provision of credit for the acquisition, works or construction of own and permanent housing, to eligible households in accordance with the applicable regulations", as stated in the same news article.  
  • House rent can be deducted up to 600 euros: The amount of house rent could be deducted up to 502 euros, but will now be increased to 600 euros in 2024;
  • Families who pay rent will pay less IRS : The IRS withholding tax will be lower in 2024 for employees who pay rent, with an additional reduction of 40 euros, which will need to be requested by the worker from the employer; 
  • Limit on housing rents from 28% to 25% in special IRS rate: A limitation will be imposed on housing rents, lowering the special IRS rate on rents from 28% to 25%. & nbsp;

These are the housing measures approved with the State Budget for 2024, which you can already count on starting in January.  

If you are thinking about buying or selling a house next year, as well as taking out a housing loan: Contact the real estate agency Casa no Minuto and the credit intermediaries from Poupança no Minuto. Ensure a quality and cost-free service!


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