Financial reporting shows the three‑month Euribor remained at 2.016%, while the six‑ and 12‑month rates rose to about 2.146% and 2.251% respectively, widening the curve between short and longer terms. The moves reflect daily money‑market shifts and will influence variable‑rate mortgage costs and short-term borrowing pricing. Mortgage holders should note modest upward pressure on medium/longer reset periods and check how their lender calculates variable payments.

Outlets report small day-to-day Euribor shifts: three- and six-month Euribor rates rose slightly while the 12-month rate fell or eased marginally, with published short-term averages around 2.02–2.05% (three-month), ~2.13% (six-month) and roughly 2.25% (12-month) depending on the source. The changes are modest but relevant for borrowers with products indexed to short-term Euribor: expats with variable-rate mortgages or loans should check how their lender updates payments and consider whether a switch to a fixed rate or lender review is advisable.

Nuno Leal, co‑CEO of Doutor Finanças, says the tax measures in the government’s housing plan — due to be debated in Parliament on Friday — should help increase supply in the market. He concedes the package tends to favour property owners and landlords but considers it “relatively balanced”, noting the measures are centred on those who hold property while aiming to ease supply constraints. The assessment focuses on likely effects on rental supply and owner incentives rather than specific legislative detail.

Economist Vera Gouveia Barros argues that the most effective element of the Construir Portugal programme is tax relief on rentals, citing an ‘almost mechanical effect’ from a proposed 10% autonomous IRS rate for rents up to €2,300. She suggests this tax cut will directly influence rent levels and landlord behaviour, with likely quick transmission into the market. However, the package omits a dedicated room‑rental option — a gap that could limit lower‑cost housing supply and options for students, workers and expats. Barros’ analysis implies policymakers should pair fiscal incentives with targeted measures for small‑unit and shared accommodation and monitor market adjustments to avoid unintended rent inflation or supply imbalances.

The State’s €1,550 million fund to guarantee up to 100% housing finance for young people is almost fully committed: €1,460 million (94%) has already been allocated to banks, leaving under €90 million available for future distributions. The near-exhaustion of the guarantee reduces headroom for new beneficiaries and shifts pressure onto banks and policy makers to consider whether to broaden, renew or restrict the scheme, with implications for the housing market and public finances.

A wave of policy and market changes due to take effect in 2026 will raise the cost of housing for Portuguese households and alter incentives across the sector. Measures affecting rents, mortgage lending rules and tax treatment of construction and property are set to impact owners, tenants and prospective buyers, with knock-on effects for affordability, market dynamics and the state budget. The package will reframe public incentives and regulatory risk for investors and households alike, requiring households and professionals to reassess financing, renting and development decisions.