News The exemption and reduction of taxes and property fees on the acquisitionof a first and permanent home by young adults up to 35 years of age 09/08/2024

On 1 August 2024, as part of the Portuguese Government's implementation of several policies to address the housing crisis, two acts widely awaited by the real estate market, entered into force: 

• Decree-Law no. 48-A/2024, of 25 July, which exempts the acquisition of a first and permanent home by young adults aged 35 or under, from Property Transfer Tax ("IMT") and Stamp tax ("IS"); and
• Decree-Law no. 48-D/2024, of 31 July, which establishes exemptions and reductions in property fees due for the registration of the acquisition of a first and permanent home, by young adults aged 35 or under, of a property intended for their permanent residence and for the registration of the mortgage intended to guarantee the loan granted for that purchase.

 Access the News Flash prepared by GPA Law Firm’s Real Estate and Banking Team HERE.