PORTUGAL Trends and Developments Contributed by: Francisco Lino Dias, Teresa Madeira Afonso, Diogo Neves and Maria Sanches Afonso, PLMJ
• support for the payment of loan agreements for own and permanent housing, correspond - ing to a percentage (75% or 50%, depend - ing on the income bracket) of the difference between the present value of the indexer and the value of the indexer at the start of the loan plus three percentage points, with a minimum of three percentage points, up to a maximum amount of EUR720.65 per year – in the case of an effort rate of 50% or more, the bonus can cover the difference between the present value of the indexer and the threshold of three percentage points. As stated, the extraordinary and temporary sup - port measures were reinforced to accommodate the legal annual update coefficient for 2024. Therefore, the monthly amount of the support is calculated – as from 1 January 2024 – on the basis of the monthly rent value updated by a coefficient of 1.0494 (4.94%). 2024 State Budget Property transfer tax brackets update The 2024 State Budget provided for an update of 5% on the progressive brackets of the property transfer tax ( Imposto Municipal sobre as Trans- missões Onerosas de Imóveis , or IMT) applicable to housing urban properties.
Non-habitual resident tax regime The non-habitual resident (NHR) tax scheme that allowed individuals to benefit from a special tax status for a period of ten years was revoked. Nonetheless, it is still applicable to the ongoing tax schemes and to individuals who become tax residents until 31 December 2024, under certain requirements. National System of Cadastral Information and the Cadastral Charter New rules governing the land register were approved in August 2023, with emphasis on the creation of the National System of Cadastral Information ( Sistema Nacional de Informação Cadastral , or SNIC) and the Cadastral Charter. The purpose is the creation of a tool that allows citizens and organisations to know exactly the location of their buildings and exercise their rights and duties safely. If the inherent difficulties of its implementation can be resolved, it may become a very valu - able resource for the flexibility and safety of real estate transactions, especially those involving rural properties.
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