Government wants to create a support program for young people to buy their first home. We explain what it consists of.<\/p>\n
The\u00a0emigration of young people\u00a0is increasingly present in Portugal. And low wages end up delaying their emancipation, as well as the\u00a0purchase of a house\u00a0to live in. It is in this context that the new Government led by Lu\u00eds Montenegro included a series of measures to support young people in its program presented this Wednesday, April 10th. One of them even consists of helping young people buy their first home, with the elimination of IMT and stamp duty. And it also wants to provide a public guarantee to make housing credit viable at 100% of the purchase price.<\/p>\n
Considering that \u201cyoung people are the demographic group most affected by the\u00a0housing accessibility crisis, with harmful impacts on the country’s demography, and on the\u00a0emigration\u00a0of the most qualified\u201d, the new Government admits that one of the \u201cgreatest difficulties\u201d that young people face today involves\u00a0buying a house. This is due to several factors, such as low wages among young people, a \u201cmore precarious\u201d professional situation, along with\u00a0high house prices\u00a0and the lack of housing credit with 100% financing.<\/p>\n
It is in this context that the new Government of Lu\u00eds Montenegro wants to \u201cfree young people from paying two payments\u201d when purchasing a house: the IMT and stamp duty to the State; and the down payment on the house for\u00a0housing loans\u00a0to banks. The Executive’s\u00a0program therefore includes the “Support Program for Buying a First Home by Young People”, which consists of two measures that aim to help young people who do not have enough\u00a0savings to support these costs:<\/p>\n
Eliminate IMT and Stamp Tax for the purchase of own and permanent housing by young people up to 35 years of age;
\nPublic guarantee to enable\u00a0bank financing of the entire price of the purchase of their first home by young people.<\/p>\n
Therefore, if the Government program is approved, young people up to the age of 35 will not have to pay the IMT (Municipal Tax on Onerous Property Transfers) and Stamp Tax when purchasing their first home. And if they don’t have the savings to make at least a 10% down payment of the lowest value between the price of the house and the bank’s valuation, they also have the possibility of using a public guarantee to have a\u00a0housing loan with 100% financing.<\/p>\n
<\/p>\n
Support for young people is a priority for the Government: more measures in housing and taxation<\/p>\n
There are also other measures in the Government of Montenegro’s program to\u00a0support young people in housing,\u00a0fiscally and in employment, such as:<\/p>\n
Invest in expanding the housing supply and strengthening the functioning of the rental market, promoting the emancipation of young Portuguese people;
\nIncrease the\u00a0coverage of Port 65,\u00a0changing the limits for its application;
\nStrengthen the supply of beds in higher education, whether through student residences or by taking advantage of existing installed capacity in the public, private and social sectors;
\nCreate a national program to attract young Portuguese people who have left the country in recent years;
\nAdopt the\u00a0IRS Jovem\u00a0in a lasting and structural way, which implies a reduction of 2\/3 in the currently applicable rates, with a maximum rate of just 15%, directing this measure to all young people up to the age of 35, with the exception of the last bracket of income;
\nReformulate the eligibility criteria for supported professional internships, in order to reinforce this response, namely the connection with the direct employability of young people by companies and the levels of scholarships offered and also improve the regulation of unsupported internships, in order to prevent abuse;
\nRecover the\u00a0JTI \u2013 Young Technicians for Industry program,\u00a0developing, with the support of the Sector Technological Centers, programs to encourage the integration of our young graduates, in the scientific, technological and management areas, in Portuguese companies;
\nCreate a JDI program \u2013 Young Doctorates for Industry, developing, with the support of National Business Associations, programs to encourage the integration of our young doctorates, in the scientific, technological and management areas, in Portuguese companies, replacing, with advantages for Portuguese economy, the current system of research grants;
\nDevelop, with the support of the Sector Technological Centers, training, qualification and certification programs for intermediate technical staff, adequately filling the knowledge base of the most dynamic Portuguese companies;
\nPromote a specific approach with the\u00a0Professional Orders\u00a0and representative associations regarding the retention of young people in Portugal;
\nInvest in the\u00a0promotion of mental health,\u00a0identified as one of the biggest concerns of young Portuguese people.<\/p>\n","protected":false},"excerpt":{"rendered":"
Government wants to create a support program for young people to buy their first home. We explain what it consists of. The\u00a0emigration of young people\u00a0is increasingly present in Portugal. And low wages end up delaying their emancipation, as well as the\u00a0purchase of a house\u00a0to live in. It is in this context that the new Government […]<\/p>\n","protected":false},"author":2,"featured_media":117434,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[890],"tags":[],"acf":[],"yoast_head":"\n