In an interview with Lusa, before the formal presentation of the Housing Strategy, scheduled for today in Porto, Miguel Pinto Luz, referred to the exemption of IMT for the purchase of the first home by young people up to 35 years old, which will be limited depending on income, but referred to the extraordinary Council of Ministers for the details of the measures.

The IMT exemption "will have an income limit", said the minister, without specifying the amount from which the young person will no longer benefit from this tax measure because "all measures in the area of youth" will be translated into "law" and presented to the country in this extraordinary meeting, which will be "announced soon".

The Housing Strategy approved by the Government and presented today already foresees that the IMT exemption is limited to houses worth up to the fourth bracket of this tax, that is, up to 316 thousand euros.

In addition to the issue of the IMT exemption, this Council of Ministers will also approve the changes that the Government wants to make to Porta 65, namely proposing to end "exclusions based on rent limits" and the Emergency Program for student accommodation, with the Housing Strategy presented today indicating a period of 15 days for the approval of these measures.

The Strategy also refers to the implementation of the National Accommodation Plan 2025-26 as an objective, with the offer of 18,000 more beds, with the Government deciding on the measure in the next 60 days.

Stressing that the Government is working "in a committed way" on this offer for young people, and pointing out the need to "stop the exodus" of young people, Pinto Luz also referred to the fact that for many years housing has been the "poor relative of the social state".

"In housing, in the last 20 years, there has been a disinvestment", he said, noting that the objective is not to point fingers, but rather to join efforts. "We do not need to continue to divide and point the finger at each other. But the fact is that in the last 20, 30 years, we have invested little in this essential pillar of the Social State", he said.

Pinto Luz also mentioned the need to look at how banks finance real estate developers and builders and to consider longer maturities for loans so that there can be more investment in construction for rent.

Financing at 10 or 15 years, he said, means that there is a concentration of construction for sale -- to make the investment profitable --, arguing that, together with the Bank of Portugal, the Portuguese Banking Association and the Ministry of Finance, ways are created to guarantee credit maturities that allow construction for rent.

[News updated at 5:19 pm]

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