"We need to come together, the sector needs to come together in a pragmatic effort", because "together we can find solutions", said Miguel Pinto Luz, referring to the public and private sectors and private owners in Portugal.
The minister was speaking at the opening of the debate on “Public Housing Policies: Strategies and Solutions”, within the scope of the Real Estate Awards, Expresso, and SIC Notícias.
Listing some of the measures that make up the Government's program, Miguel Pinto Luz stated that "a supply shock" is necessary because only with "more supply" will it be possible to "address this scourge" which is the difficulty in accessing housing.
Stressing that the problem can only be resolved in a "congregated, non-dogmatic way, without ideological complexes, where everyone can contribute", the minister added that this Government should not be counted on to play blame games.
"Don't count on this Government to play this game of blame [...] that everything that was done in the past is wrong. No, a lot of things are fine, others need to be corrected, others need to be done differently and others weren’t done at all," he said.
Miguel Pinto Luz also said that the public supply of housing must increase, but highlighted that the "private initiative is essential for this supply shock, which is absolutely necessary".
Regarding the reversal of some Mais Habitação measures, he said that the Government wants to treat differently what is different and equally what is the same, so in Local Accommodation it intends to "comply" in the "shortest possible time in terms of politicians", the reversal of the extraordinary contribution on this sector.
The government should dramatically raise property taxes. The fact that it doesn't cost money to leave a house out apartment empty is a key reason that owners aren't forced to try and get income to cover the property cost. There is zero incentive to force owners to rent their properties. If there is a supply shock competition will keep rents down.
By Ant from Other on 21 Apr 2024, 12:23
If the government abolishes all capital gains tax on your principal residence it will enable older homeowner to downsize without being hit with a massive capital gains rax bill.
This will being more properties on to the market and also allow the owners to reduce asking prices taking into account the huge savings in tax.
Think smart,the portuguese property market lacks liquidity this will help enormously.
By James from Algarve on 22 Apr 2024, 04:40
Also cap estate agents commissions at 2% taking 6% is disgusting and another reason the property market is highly illiquid.
If both my suggestions were taken up prices could be cut by as much as 30% and owners would end up with the same amount of money.
Think smart!
By James from Algarve on 22 Apr 2024, 09:16