Purchase of house by young people: Government will guarantee up to 15% of acquisition value.

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If you are young and want to buy a house, learn about the government's new measure.

The Council of Ministers approved the mechanism of public guarantee up to 15% of the acquisition value of real estate, for young people up to 35 years old and with a limit of 450 thousand euros.

According to Notícias ao Minuto, Prime Minister Luís Montenegro presented the measure at the end of the Council of Ministers held in Braga dedicated to youth, where the government announced that the goal is for the measure to be in effect as of August 1st.

The measure is intended for young people from 18 to 35 years old, with incomes up to the 8th income bracket of the IRS (annual taxable income of 81,199 euros).

Please note that: in order for young people to access the measure, they cannot own real estate properties, nor have already benefited from public guarantees. In addition, this guarantee is limited to 15% of the maximum transaction value of 450 thousand euros.

According to the news, the Minister of Youth and Modernization, Margarida Balseiro Lopes, stated that the Government has already started "discussions with the regulator" for the measure to be regulated within a 60-day period through an ordinance. The objective will also be to come into force together with the exemption from the Municipal Property Transfer Tax (IMI) on August 1 URL:

This measure arose in the program of the AD coalition Government, which pointed to a public guarantee to enable bank financing of the total value of the acquisition of the first home by the youth sector.

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