According to the Bank of Portugal (BdP), one in five new loans was granted to foreign citizens, whether residents or non-residents in Portugal. The share of foreign citizens (residents and non-residents) in the total stock of real estate credit increased from 6.9% in December 2022 to 8.2% in June 2024. These figures, reflecting the analysis … Read more
The parliament recently approved the exemption of the Municipal Property Transfer Tax (IMT) and Stamp Duty for young people up to the age of 35 on their first home purchase. This measure, proposed by the government, aims to facilitate access to housing for young people and is part of the “New Housing Strategy.” Measure Details … Read more
On November 28, the Government approved a decree at the Council of Ministers that relaxes the Land Law, enabling municipalities to release land, including rustic plots, for the construction of public or low-income housing. The decree aims to simplify and make land-use legislation more flexible, allowing municipal councils to unlock plots for residential construction. This … Read more
Individuals entering or leaving Portugal with cash amounts of €10,000 or more, traveling to or from territories outside the European Union, are legally required to declare these amounts to the Tax Authority (AT) and make them available for inspection. This measure, aligned with European Union directives, aims to combat illicit activities by preventing money laundering … Read more
