To qualify for this benefit, the following requirements must be satisfied:

  1. To sell a plot of land for construction or a residential property during the years 2022, 2023, and 2024, as long as it is not designated for one’s own permanent residence.
  2. The amount obtained from the sale, minus any loan taken for the acquisition of the property being sold, must be allocated towards the reduction of the outstanding capital in a home acquisition loan intended for the owner’s or their descendants’ own permanent residence.
  3. The repayment of the remaining principal balance on the acquisition loan must be completed within 3 months of the sale.

If the proceeds from the property sale exceed the amount used to amortize the loan principal, the remaining balance will be subject to taxation according to standard regulations.

Tax Department

Sofia Quental | Inês Grácio | Flávia Almeida | Catarina Amaral