New land law: can it make your dream of owning your own home easier?

The new land law legislation aims to simplify the reclassification of rural land into urban land, with the aim of increasing housing supply and controlling house prices. But how can these changes influence your journey to owning your own home?

Land reclassification: what changes?

With the new law, the process of transforming rural land into urban land has become more agile. Municipal Assemblies, upon proposal from Municipal Councils, now have the power to approve these reclassifications. However, there is one condition: at least 70% of the built area on these lands must be allocated to affordable housing . This measure aims to ensure that the increase in housing supply translates into more affordable prices for buyers.

Impact on the real estate market and housing credit

With more land available for construction and a greater supply of affordable housing, the expectation is that house values ​​in metropolitan areas and district capitals could fall by up to 20%, according to government estimates. For you, the future buyer, this represents an opportunity to acquire your own home at more competitive prices .

To take advantage of these opportunities, it is essential to be financially prepared. This is where mortgage loans come in.ComparaJá.pt offers a free service that allows you to compare the various mortgage offers available on the market, helping you find the solution that best suits your needs. In addition, through the platform, you can start the mortgage application process entirely online, avoiding travel and making the entire procedure faster and less bureaucratic.

How to take advantage of the new land law?

Before moving forward, it is essential to take a few steps into account.

1. Analyze the land conditions: Check whether the land of interest is eligible for reclassification and whether it meets the requirements established by the new law.
2. Check with your local authorities: Each municipality may have specific regulations. Contact your local council for detailed information.
3. Assess your financial capacity: Usemortgage simulators to understand what your monthly payment will be and ensure it fits within your budget.

The New Land Law opens doors to new opportunities in the Portuguese real estate market. With adequate preparation and the support of tools such as those provided by ComparaJá.pt, the dream of owning your own home may be closer than you imagine.