The appointment of deeds is being accelerated after a waiting period for young people to benefit from the exemption from IMT and Stamp Duty, real estate market players told Lusa.
Decree-law approved exempting young people from IMT and stamp duty
Since the approval by the Council of Ministers of measures aimed at housing, specifically the bank guarantee and the granting of exemption from IMT and Stamp Tax (IS) on the purchase of the first home by young people up to 35 years of age, Ana Paula Silva, from Century21, saw the The number of home purchase processes is increasing on your desk.
Young people will benefit from the exemption from registration when purchasing a house for up to 316,772 euros
This indication not to move forward with the processes has been reversed since, earlier this week, the President of the Republic promulgated the IMT and IS exemption diploma.
“There were processes that were not approved because they were waiting for documentation. Suddenly, within 48 hours, everything started to arrive,” the financial intermediary told Lusa. “Everything” is what is needed to proceed with the loan application and sign the deed of purchase of the house.
Ana Paula Silva anticipates that the number of deeds she is involved in and will complete during the month of August will double compared to the same month last year.
The portrait made by the consulting firm Century 21 coincides with the information collected by Confidencial Imobiliário. The director, Ricardo Guimarães, told Lusa that the data from the Residential Information System (SIR), which accompanies the Demand for property, through the number of purchase and sale contracts (CPCV), is expected to increase in the first months of this year..
However, this increase in the CPCV was not reflected in the number of deeds carried out, which confirms the information collected through the Real estate market surveywhere estate agents report the postponement of the completion of deeds by new buyers.
“We have a positive real estate mediation by the CPCV, but it is not accompanied by deeds,” said Ricardo Guimarães, considering it natural that young people, faced with an exemption from IMT and IS when buying a house, chose to postpone the deed until the measure is in force, which should occur as of August 1.
The CI director believes that From now on “there will be an acceleration of the Scriptures”Not only because of the effect of this tax benefit, but also because the interest rate outlook for those who want to borrow is currently more favourable than it was a year ago.
An acceleration of the deeds is also what the president of the Order of Notaries, Jorge Batista da Silva, hopes for, after this period of waiting and requests for postponement to take advantage of the tax benefit and also the exemption from fees with housing and mortgage registries (in case of loans).
Asked to comment on this exemption from registration, provided for in a draft decree to which Lusa had access, the College of Notaries expressed its agreement, considering that it “will greatly benefit young people”, taking into account the difficulties they face in buying their first home.
Jorge Batista da Silva does not foresee any problems with marking and writing (despite the expected increase in the near future), but he says that Questions remain about measures targeting young people.
Lusa has contacted several banks operating in the Portuguese market to find out whether they are seeing an increase in the number of deeds from August onwards, but so far only BPI has reported not having seen a significant increase.
Source: Observadora
