Decree-Law No. 48-A/2024, of July 25, came into force. The Decree-Law foresees an exemption of RETT and stamp duty on the purchase of permanent housing applicable to young people up to the age of 35.

The measure was part of the current Government's program to face the crisis in access to housing.

The cumulative requirements to benefit from this exemption are the following:

• Acquirers are 35 years or less on the purchase date;

  
  

• The building is intended exclusively for permanent housing;

  
  

• The acquisition price, or tax value (VPT) of the building, is equal to or less than € 316,772.

  
  

• The acquirers are not deemed dependents of a family unit, for personal income tax (PIT) purposes;

  
  

• The acquirers do not hold a right of ownership, or of a partial figure of this right, over another urban residential building, on the purchase date, or in the three previous years.

  
  

In the scenario where the taxable amount for RETT purposes is greater than € 316,772, the following rates will be applied to the excess amount: from € 316,772 to € 633,453 – 8%; from € 633,453 to € 1,102,920 – 6% (single rate); Greater than €1,102,920 – 7.5% (single rate).

In terms of stamp duty, the rate of 0.8% is applied on the value (purchase price or VPT) that exceeds € 316,772.

The verification of the conditions for exemptions and the calculation of the RETT of buildings that are common property of a couple, will be carried out individually in relation to each spouse.

The RETT and Stamp Duty exemptionsstamp duty, or rate reduction, expire if the acquirers are deemed dependents within six years from the purchase date of the building, and when a different destination is given to the building within six years from the date of acquisition, except in cases of (i) sale (ii) change in the composition of the household (due to marriage,  de facto union or dissolution of these, increase in the number of dependents) and (iii) change of the workplace to a distance of more than 100 km from the building, provided that, in the last two scenarios, the building remains exclusively intended for housing.