4,000 young buyers in two months—demand was waiting
Em Portugal, onde o sonho da casa própria se tornou cada vez mais distante para os mais jovens, o governo alargou a isenção de IMT para compradores com menos de 35 anos em imóveis até €324.058 — um gesto que reconhece, sem resolver por completo, a tensão entre salários que crescem devagar e preços que sobem depressa. Mais de 4.000 jovens já beneficiaram da medida desde agosto, num sinal de que a procura contida estava à espera de uma abertura. A política insere-se numa aposta mais ampla: que retirar o peso fiscal e a barreira da entrada inicial possa devolver a uma geração o acesso a algo que as anteriores tomavam como garantido.
- O custo da habitação tornou-se um fardo real para as famílias portuguesas, e os jovens adultos têm sido os mais expostos à subida de preços que ultrapassa o crescimento dos salários.
- A adesão à isenção superou as expectativas logo nos primeiros dois meses, obrigando o governo a rever o custo estimado de €50 milhões para €60 milhões só em 2025.
- A medida tem condições precisas — idade máxima de 35 anos, primeira habitação permanente, e ausência de dependência fiscal no ano da compra — o que delimita quem pode mesmo beneficiar.
- Em paralelo, um programa de garantia pública de financiamento a 100% aguarda a adesão dos bancos até ao final de outubro, prometendo eliminar também a barreira da entrada inicial.
- O governo aposta que a combinação de isenção fiscal e acesso a crédito total pode transformar a trajetória habitacional de uma geração — mas a eficácia dependerá da resposta do mercado e da banca.
Portugal alargou a isenção de IMT para jovens compradores de primeira habitação, elevando o teto de €316.772 para €324.058 — um ajuste indexado à inflação estimada de 2,3% para 2025. Quem tiver menos de 35 anos e adquirir a sua primeira residência permanente fica isento do imposto municipal sobre transmissões, bem como de imposto de selo e custas notariais, até esse valor. Entre €324.058 e €648.022, paga a taxa de 8% apenas sobre o montante excedente.
A medida entrou em vigor em agosto e os resultados iniciais surpreenderam o próprio governo: mais de 4.000 jovens já a utilizaram, levando o Ministério das Finanças a rever o custo previsto para 2025 de €50 para €60 milhões. Somando os €25 milhões gastos na segunda metade de 2024, o custo total até ao final do próximo ano deverá rondar os €85 milhões.
Há, porém, uma condição que pode excluir alguns candidatos: o comprador não pode ter figurado como dependente em qualquer declaração de IRS no ano em que realiza a compra — uma regra que, na prática, pode afetar jovens ainda em transição para a autonomia financeira.
A isenção fiscal surge acompanhada de uma segunda iniciativa: um programa de garantia pública que permitirá aos jovens elegíveis obter financiamento a 100% do valor do imóvel. Os bancos têm até ao final de outubro para aderir ao protocolo com a Direção-Geral do Tesouro. Se o programa funcionar como previsto, a geração que viu os preços da habitação crescer mais depressa do que os seus salários poderá finalmente encontrar uma porta de entrada — sem imposto e sem entrada.
Portugal has made it easier for young people to buy their first home. Starting in August, anyone under 35 can purchase a primary residence without paying IMT—the municipal property transfer tax—along with stamp duty and notary fees, as long as the property costs no more than €324,058. Above that threshold and up to €648,022, they pay the standard 8% IMT rate only on the excess amount. The government announced this expansion this week as part of its 2025 budget proposal, and the numbers suggest it's already working.
More than 4,000 young buyers have already used the exemption in its first two months of operation. The Finance Ministry initially estimated the measure would cost €50 million in 2025, but revised that figure upward to €60 million—a sign that uptake has been stronger than expected. Combined with €25 million spent in the second half of 2024, the total cost through next year will reach approximately €85 million.
The eligibility rules are straightforward but carry one important condition. You must be 35 or younger at the time of purchase, buying your first permanent home, and you cannot have been claimed as a dependent on anyone's income tax return in the year you make the purchase. The €324,058 ceiling represents an inflation adjustment from the previous limit of €316,772, reflecting the government's decision to index the tax brackets to the estimated 2.3% inflation rate for 2025.
What makes this policy particularly significant is the context in which it arrives. Housing costs have become a serious burden for Portuguese families, and the government has acknowledged this pressure even as it stops short of introducing additional measures in the 2025 budget specifically designed to ease that weight. Instead, it is leaning on this tax break and a companion initiative: a public guarantee that will allow young buyers to secure 100% financing for their first home purchase.
That guarantee program is still taking shape. Banks have until the end of October to sign a protocol with the Treasury and Finance Directorate if they want to participate. Once those agreements are in place, eligible young homebuyers should have access to mortgages that cover the full purchase price—a significant advantage in a market where down payments have traditionally been a barrier to entry. The government is essentially betting that removing both the tax burden and the down payment requirement will open homeownership to a generation that has watched housing prices climb faster than their wages.
Citações Notáveis
The measure is available to all young people purchasing their first permanent home, provided they are 35 years old or younger at the time of purchase and were not claimed as dependents for income tax purposes in the year of acquisition.— Portuguese Finance Ministry, 2025 Budget Proposal
A Conversa do Hearth Outra perspectiva sobre a história
Why did the government feel compelled to raise the budget estimate from 50 million to 60 million euros so quickly?
Because 4,000 young people used the exemption in just two months. That's a much faster take-up than they'd projected. It tells you there's real demand—people have been waiting for a break like this.
The exemption only applies to homes under about 324,000 euros. Doesn't that leave out a lot of young buyers in expensive markets?
It does. But the government is being pragmatic. They're targeting the segment where they can actually move the needle—first-time buyers in the middle market. Above that price point, you're dealing with people who likely have more resources anyway.
What's the significance of that 100% financing guarantee coming in October?
It's the other half of the puzzle. The tax break removes one barrier; the guarantee removes another. If you can borrow the full amount and pay no transfer tax, suddenly a first home becomes achievable for people who couldn't save a down payment.
But doesn't that risk inflating prices further if more people can suddenly afford to buy?
That's the real question nobody's answering yet. You're putting more money into the market. Whether that translates to more homes being built or just higher prices depends entirely on supply. Portugal hasn't solved that part.
Why the restriction about not being a dependent on someone's tax return?
It's a way to target people who are genuinely independent—not someone whose parents are still claiming them. It's a fairness mechanism, though it does exclude some young people who might otherwise qualify.