Young people under 35 years of age with a monthly income of around 5,800 euros who want to buy their first permanent home will be able to access a government guarantee covering part of the loan. The measure was approved on Thursday by the Council of Ministers and applies to real estate worth up to 450 thousand euros, while the state guarantee can reach up to 15% of the value of the house, with a maximum of 67.5 thousand euros. The support, due to come into force on 1 August, is part of a package of support until you reach age 35 on tax, housing, health and wellbeing. According to Prime Minister Luis Montenegro, the goal is to give “more hope to young people” so that they can stay in Portugal because “the country, the government and the Portuguese people here need them.” Youth and Modernization Minister Margarida Balseiro López explained on Thursday in Braga, one of the cities with one of the country’s youngest residents, that the government “has already started consultations with the regulator.” [Banco de Portugal] and with the sector” and therefore hopes to publish a decree implementing this measure within 60 days. To access this government guarantee, you must be between 18 and 35 years old, have tax residence in Portugal, and have an income not exceeding income tax band eight (€81,199 per year, approximately €5,800 per month). The cost of the house cannot exceed 450 thousand euros.
Students plus accommodation
Displaced higher education students who do not have a scholarship will receive living support equal to 50% of the amount paid to scholarship holders. The measure will cover families with a per capita income ranging from 836 to 1,018 euros per month, Youth Minister Margarida Balceiro Lopez said on Thursday.
Change port 65
Applications for the Porta 65 Jovem program will no longer require the prior submission of a rental agreement and can now be submitted with three payslips instead of the current six, the government announced on Thursday.
Help for fellows
The living allowance for scholarship students without accommodation currently ranges from €264.24 to €456.41 depending on the city.