Portugal IMT Tax Increase

Portugal is set to hike its Municipal Property Transfer Tax, also known as IMT, for overseas house purchasers. The plan is aimed at decelerating the imminent pace of foreign demand and making houses more affordable for local families. Prime Minister Luís Montenegro justified that the Portugal IMT Tax Increase was merely part of an integrated housing reform initiative aimed to rebalance Portugal’s housing market, temper speculative fever, and assist younger residents in becoming homeowners after decades of increasing prices.