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Document assignments accelerate after pause pending IMT and Seal release

Document assignments are being accelerated after a waiting period for young people to benefit from IMT and stamp duty exemptions, real estate players told Lusa.

Since the Council of Ministers approved measures aimed at housing, namely the bank guarantee and the provision of an exemption from BMI and stamp duty (IS) for the purchase of a first home by young people under 35, Ana Paula Silva of Century21 has seen a multitude of home-buying processes pile up on his desk.

This order not to move forward with these processes has been lifted since the President of the Republic issued a certificate of exemption from the ISIS and IB earlier this week.

“There were processes that weren’t approved because they were waiting for documentation. Suddenly, within 48 hours, everything started coming in,” the financial intermediary told Lusa. “Everything” is what’s needed to apply for a loan and finalize the deed to purchase a home.

Ana Paula Silva expects the number of cases she is involved in and will carry out in August to double compared to the same month last year.

The portrait drawn by the consultant Century 21 coincides with the information collected by Confidencial Imobiliário. Director Ricardo Guimarães told Lusa that data from the Housing Information System (SIR), which tracks demand for real estate through the number of purchase and sale contracts (CPCV), indicates an increase in the first months of this year.

However, this increase in CPCV has not been reflected in the number of completed transactions, which is supported by information from the Housing Market Survey, where estate agents report delays in completing transactions by first-time buyers.

“We have real estate mediation with a positive signal from the CPCV, but then it is not followed by cases,” said Ricardo Guimarães, considering it natural that young people, faced with the exemption from IMT and IS when buying a house, decide to postpone the transaction until the measure comes into force, which should happen on August 1.

The CI director believes that from now on “things will speed up” not only because of the effect of this tax break, but also because the interest rate outlook for those wishing to borrow is now more favourable than it was a year ago. .

Speeding up matters is also what the President of the Order of Notaries, Jorge Batista da Silva, expects, after this period of waiting and requests for deferrals to take advantage of tax breaks, as well as exemptions from fees for registering houses and mortgages (in the case of a loan).

Called to comment on this exemption from registration, provided for in the draft decree to which Lusa had access, the Order of Notaries expressed its agreement, since it believes that “it will greatly benefit young people”, given the difficulties they face when buying their first home.

Jorge Batista da Silva does not foresee any problems with labelling and campaigning (despite an expected increase in the near future), but says there are still some doubts about measures aimed at young people.

Lusa contacted several banks operating in the Portuguese market to see if they had registered an increase in the number of document markings since August, but so far only BPI reported that it had not registered a corresponding increase.

Author: Lusa
Source: CM Jornal

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