Financial advice in Portugal
Latest articles about Financial advice in Portugal
Most house buyers with a mortgage tend to take out home loans to be paid back over 25-30 years. This is a very long term and it represents a lot of money in interest.
The coronavirus outbreak has paralysed the country.
Parliament in Portugal - in parallel with an executive and temporary regime for late payment of rent and other measures - on Thursday 26th March 2020 approved an aid package including a moratorium on mortgage payments for vulnerable families and companies.
The new coronavirus pandemic is already leaving, and will continue to leave its mark on the Portuguese and world economy, with direct consequences in the real estate sector.
Besides plans to end golden visas in Lisbon and Porto, the ruling Socialist Party in Portugal has introduced an amendment to this year's state budget which will levy a 10% income tax (known in Portuguese as IRS) on the foreign revenue of foreign pensioners who move to Portugal.
We already know that in Portugal, 2020 is going to be a year that sees some lower household expenses in certain areas and this includes cheaper electricity bills.
Launched in 2009, the regime for non-habitual residents in Portugal adds up to more than 27,000 beneficiaries and has been a strong driver of property investment in Portugal, especially in recent years.
2020 started with good news for those who applied for a mortgage, but this month, the scenario looks like it is changing, but only slightly for the time being.
February is still one of the coldest months of the year and for many people living in Portugal, winter is synonymous with discomfort at home or high energy bills.
Everything indicates, except in the case of unexpected surprises, that the Portuguese will benefit in 2020 from an increase in purchasing power, thanks to improved economic conditions and falling unemployment, together with an expected rise in wages, on average, above inflation.
Every year, municipalities have to determine and communicate to the Finance Department by December 31st, the amount of Municipal Property Tax (IMI) for real estate they intend to charge owners in their respective municipalities.
Do you want to buy a house at a lower price than those on the market? Then maybe properties pawned and sold at auction are a good option for you.