The public guarantee on housing credit for young people is being “a success”, with 17 credit institutions joining, said the Minister of Youth and Modernization today in parliament.
“The adhesion of credit institutions to the public guarantee was a success”, with “17 credit institutions having already joined”, stated the Minister of Youth and Modernization, Margarida Balseiro Lopes, at the hearing in parliament, within the scope of the discussion on the specifics of the State Budget for 2025 (OE2025), reiterating that the measure “will be fully operational” by the end of the year.
The public guarantee for housing credit for the first home of young people between the ages of 18 and 35 will allow the State to guarantee, as guarantor, up to 15% of the transaction value, covering purchases up to 450 thousand euros and young people who do not earn income above the eighth IRS bracket (81.199 euros of annual taxable income).
According to the minister, this, along with the exemption from IMT, stamp duty and fees on the purchase of the first home for young people up to 35 years old or the reinforcement of Porta 65 are measures that aim to respond “directly to one of the biggest obstacles” to the emancipation of young people, which “is housing”.
“Since August, the exemption from IMT, stamp duty and fees on the purchase of a first home for young people up to 35 years of age has reached more than 8.500 young people” and the Government’s expectation “is that it will reach many more”, explained Margarida Balseiro Lopes.
Regarding the reformulation of the Porta 65 program, the minister recalls that the executive removed the “maximum income limit”, simplified the application process and increased the program’s budget from “37 to 63 million euros”.
“The results were truly positive”, he highlighted, indicating that “since September the number of applications has practically equaled the total registered between January and September”, he concluded.
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