Housing in Numbers

Chapter 7 · Political responsibility

Political responsibility, 2000–2026

No government created the crisis on its own. This timeline separates the date of each decision from its state of implementation and from the effects that can be measured.

Jorge Alexandre PereiraUpdated

Several tower cranes over buildings under construction, against an overcast sky.
Illustrative imageCranes over buildings under construction. Location not identified.
In this chapter

How to read this

  • Decision ≠ effect. A licence takes two to four years to become a completed home. The homes completed in a given year mostly reflect earlier decisions and conditions.
  • Inherited ≠ decided. Financial crises, the assistance programme, interest rates and wars are context, not decisions by a government.
  • Announced ≠ implemented. Each record shows the state of implementation and, where it exists, the measured result.

Neutrality

Governments appear in alternating grey bands, without party colours. The decisions of each government are presented in the same format and with the same level of detail. Records whose law number or date is still to be confirmed are flagged.

Decisions and homes completed

Policy decisions (top) and new homes completed (bars), 2000–2026

Dwellings completed · number · markers show the year of each decision; click to go to the record

  • Homes completed
  • Decision (demand)
  • Decision (supply or both)
  • Government in office

Official data Statistics Portugal (INE), completed construction works (0013249), via PORDATA.

Records

  1. 30-09-2002Durão Barroso
    PSD/CDS

    End of subsidised mortgage credit for new contracts

    DemandLei 16-A/2002, art. 5.ºLaw number or date to be confirmed
    In force

    No new contracts since 30-09-2002; existing ones continue.

    Construction starts falling in 2003, but the cycle was already at its peak. This is a coincidence in time, not a single cause. Author's analysis

    Source: Decree-Law 305/2003 and joint order 549/2002 (citing the law)

  2. 12-11-2003Durão Barroso
    PSD/CDS

    Property tax reform: IMI and IMT replace the municipal tax and the sisa

    DemandDL 287/2003
    In force

    IMI in force from 1-12-2003.

    Source: Portal das Finanças ↗

  3. 27-02-2006José Sócrates
    PS

    New Urban Lease Regime (NRAU)

    SupplyLei 6/2006
    In force

    In force; amended in 2012, 2019 and 2023.

    Source: Diário da República (cited in Decree-Law 97/2026)

  4. 03-09-2007José Sócrates
    PS

    Porta 65 Jovem: rent support for young people

    DemandDL 308/2007
    In force

    In force; extended to those up to 35 in 2024.

    Source: Diário da República ↗

  5. 2009José Sócrates
    PS

    Creates the Non-Habitual Resident (NHR) regime

    DemandDL 249/2009
    Closed to new entrants

    Closed to new entrants by the 2024 State Budget (Costa government), with a transitional regime.

    Source: Portal das Finanças ↗

  6. 2011Pedro Passos Coelho
    PSD/CDS

    Economic and financial assistance programme (2011–2014)

    ContextMemorando de entendimento

    Inherited and negotiated context: restricted credit, collapse of the construction sector.

    Source: Investigation, section 1

  7. 2012Pedro Passos Coelho
    PSD/CDS

    Creates the residence permit for investment (golden visas)

    DemandLei 29/2012Law number or date to be confirmed
    Closed to new entrants

    Restricted to the interior in 2022; property route closed in 2023.

    Source: Observador, fact-check ↗

  8. 2012Pedro Passos Coelho
    PSD/CDS

    Revision of the NRAU: rent liberalisation

    SupplyLei 31/2012Law number or date to be confirmed
    In force

    Amended in 2019 and 2023.

    Source: Investigation, section 6

  9. 2014Pedro Passos Coelho
    PSD/CDS

    Separate legal regime for short-term rentals (alojamento local)

    SupplyDL 128/2014Law number or date to be confirmed
    In force, amended

    Amended by Mais Habitação (2023) and Decree-Law 76/2024.

    Source: Investigation v2, matrix

  10. 2017António Costa
    PS

    Expression of interest as a route to regularising immigrants

    DemandLei 59/2017 (alargada pela Lei 28/2019)
    Repealed

    Abolished by Decree-Law 37-A/2024 of 3 June.

    Source: APCMC ↗

  11. 2018António Costa
    PS

    New Generation of Housing Policies and the 1.º Direito programme

    SupplyRCM 50-A/2018; DL 37/2018
    Being implemented

    By the end of 2025: 18,778 dwellings completed, 2,401 handed over; about 85% are renovations. The 5% public housing target was not met (≈ 2%).

    Source: ECO, CNA report (21-05-2026) ↗

  12. 22-05-2019António Costa
    PS

    Affordable Rental Programme

    SupplyDL 68/2019
    Repealed

    Repealed by Decree-Law 97/2026, with effect from 1-09-2026 (replaced by the RSAA).

    Source: Decree-Law 97/2026 (official text) ↗

  13. 2021António Costa
    PS

    Housing component of the Recovery and Resilience Plan

    SupplyPlano de Recuperação e Resiliência
    Being implemented

    Designed in 2021; implemented mostly after 2024. The government reports more than 28,000 homes "delivered" by August 2026, with a change of counting criterion.

    Source: ECO (15-08-2026) ↗

  14. 12-02-2021António Costa
    PS

    Restricts property golden visas to the interior and the autonomous regions

    DemandDL 14/2021Law number or date to be confirmed
    Closed to new entrants

    With effect from 1-01-2022.

    Source: Business and legal press (Feb 2021)

  15. 2023António Costa
    PS

    End of the NHR for new entrants and creation of IFICI

    DemandOE 2024
    In force

    Transitional regime until the end of 2024; IFICI regulated in 2024–2025.

    Source: Forvis Mazars ↗

  16. 06-10-2023António Costa
    PS

    Mais Habitação: end of property golden visas and suspension of new short-term rental registrations

    DemandSupplyLei 56/2023
    In force, amended

    The suspension of short-term rentals was reversed by Decree-Law 76/2024.

    Source: Investigation v2

  17. 08-01-2024António Costa
    PS

    Simplex Urbanístico: licensing reform

    SupplyDL 10/2024
    In force

    In force since 4-03-2024. Effect on timescales still to be measured.

    Source: INE, introductory note (Jun 2025)

  18. 03-06-2024Luís Montenegro
    AD

    Abolishes the expression of interest

    DemandDL 37-A/2024
    In force

    In force since 4-06-2024. Pending cases handled by a mission structure.

    Source: APCMC ↗

  19. 10-07-2024Luís Montenegro
    AD

    Public guarantee on mortgages for young people

    DemandDL 44/2024
    In force

    Ceiling of €1.2bn, increased to €2.3bn (Apr 2026). Contracts until 31-12-2026.

    Source: ECO (21-04-2026) ↗

  20. 25-07-2024Luís Montenegro
    AD

    Exemption from IMT and stamp duty for young people up to 35

    DemandDL 48-A/2024
    In force

    Purchases since 1-08-2024.

    Source: Portal das Finanças ↗

  21. 23-10-2024Luís Montenegro
    AD

    Short-term rentals: decision returned to the municipalities

    DemandSupplyDL 76/2024
    In force

    In force from 1-11-2024; lifts the general suspension of new registrations. Effect still to be measured.

    Source: Diário da República ↗

  22. 20-05-2026Luís Montenegro
    AD

    6% VAT on construction and renovation; 7.5% IMT for non-residents

    SupplyDemandDL 97/2026 (Lei 9-A/2026)
    In force

    Works starting between 25-09-2025 and 31-12-2029. The first completions covered will only arrive in 2027–2029.

    Source: Diário da República ↗