IMT Jovem: More than 3,000 young people have already benefited from the purchase of 2,141 homes
Since 1 August, when the law that applies the exemption from stamp duty and IMT came into force, a total of 3,098 young people have benefited from IMT Jovem when buying their home, according to information released by the Ministry of Youth and Modernisation.
The data provided by the ministry, headed by Margarida Balseiro Lopes, also indicates that 2,141 properties were purchased under this initiative, according to a response sent to the Lusa agency.
Does this exemption apply to couples?
The answer is yes, even if one of the couple is over 35, it only applies to those who have not yet exceeded the age limit of 35. In this case, it gives rise to a 50 per cent reduction in the amount of tax payable.
This tax measure is part of the government’s programme, led by Luís Montenegro, to facilitate access to housing for people under 35. The government estimates that this initiative will cost around 25 million euros in 2024 and 50 million euros in 2025.
What restrictions will there be on using this exemption?
Young people who benefit from the IMT Jovem are subject to restrictions on the use of the property, being prevented from renting the property or using it for tourist activities for six years, under penalty of losing the tax benefit.
However, there are exceptions to this restriction, such as the sale of the house, divorce, a change in the composition of the household or moving more than 100 kilometres from the workplace. In the latter two cases, the property must continue to be used exclusively as a home to maintain the exemption.
Translated with DeepL.com (free version)
