Buying a house: Public guarantee must come into force by September at the latest.
The measure that will allow young people to access 100% financing (public state guarantee) when buying a house has now been published in the Diário da República, so it must come into force in the next 60 days, that is, by September 10 at the latest. Understand more next.
If you are waiting for the measure to buy a house, start searching for the best offer on the market! Contact the credit intermediaries at Poupança no Minuto for free help. Poupança no Minuto
The decree-law of the measure has already been approved and must happen within 60 days.
The government has already published the measure that provides public guarantee in the purchase of a house for young people in the Official Gazette. The decree-law was published on July 10th and came into effect on July 11th.
However, as can be read on Público, despite the speed at which the measure is coming into effect, the practicality of the law is still dependent on its regulation through an ordinance. This must happen within a maximum period of 60 days, that is, until September 10.
Decree-law no. 44/2024 establishes that it is the responsibility of the Government members "responsible for the areas of finance, housing, and youth to approve, within a maximum period of 60 days from the entry into force of this decree-law, the necessary regulations for the provisions of this diploma".
The date set by Prime Minister Luís Montenegro for the effective implementation of the measure was August 1st.
It is important to remember that this measure will cover young people between 18 and 35 years old with tax residence in Portugal, who earn up to 5,800 euros gross per month (8th IRS bracket), and who buy a property worth a maximum of 450 thousand euros.
In addition, potential beneficiaries cannot be owners of an urban building or a fraction autonomous of a residential urban building on the date, nor have benefited from the personal guarantee of the State under this decree-law. All these conditions are cumulative, and the State's personal guarantee in question cannot exceed 15% of the property transaction.
Are you waiting for this measure to come into effect so you can buy your property with State support? Start the process now by looking for the best financing proposals on the market, with credit intermediaries from Poupança no Minuto, at no cost! Poupança no Minuto