The cost of renting in rural areas has become a social problem. Prime Minister Costa then unveiled a plan that would include incentives and subsidized mortgages, and in which the state itself would become the lessor of properties, which would be sublet at affordable rates. The measure, which had attracted wealthy foreigners in exchange for residence permits, is also coming to an end. And long-term rentals and not short-term rentals are tax-relieved
The schedule remains open at Advice publish for a month and it drew immediate interest, but some fear it will lead to an increase in illegal contracts and tax evasion. What is certain is that the government project It costs represents a revolution for the Portuguese real estate market, where skyrocketing rents are becoming one of the most serious social problems. The new 900-million-euro legislative package for housing policy provides low-interest loans for families in need and state support of up to 200 euros per month for families with a total gross income of up to 2,700 euros who spend more than 35% of their income on financing housing. The plan also envisages scenarios where it is the same Condition record to rent buy the property and then sublet it at affordable rates, or cases where the state pays the rent instead of the defaulting tenants.
Further measures are aimed at bringing the numerous buildings back onto the real estate market leave (there are over 700,000 across the country, around 50,000 in Lisbon alone) to encourage them sale to the state with strong tax breaks on the proceeds or financing of Restoration to then force the owners to rent them out. It also makes it more difficult for lessors to increase prices too much beyond a normal inflation rate update when switching from one contract to another.
To combat the effects of the internationalization of the Portuguese real estate market, the abolition of the Golden Visa (i.e. naturalization in the country in exchange for investment) which had attracted them Foreigner rich in exchange for residence permits; In order to avoid owners fleeing to the tourism market and short-term leases, the government will block it new licenses in all urban areas – including for Airbnb – and will provide further tax breaks for those who move their property to the long-term contract market. The plan illustrated by the Prime Minister It costssupported by the finance minister Fernando Medina (former Mayor of Lisbon) and the new Minister for Housing Policy Marina Goncalveshas already sparked the protest of entrepreneurs in the short-term rental sector, who have even announced a lockout in the first week of August, when World Youth Day takes place in Lisbon and at least a million pilgrims are expected to see the Pope.