On May 12, Portuguese President António José Seguro approved a package of tax measures aimed at increasing housing supply. The government first announced the initiative in September, and the measures are now officially entering into force. The maximum IRS tax deduction for tenants on rent payments will rise to €1,000. Landlords renting out properties for up to €2,300 per month will qualify for a reduced IRS rate. VAT on the construction or renovation of properties intended for permanent owner-occupation or residential rental will be reduced from 23% to 6%. First-time homebuyers purchasing price-controlled housing for permanent residence will also be exempt from the IMT property transfer tax. Material taken from https://t.me/s/portugalpages