REHABILITATION OF PROPERTIES IN HISTORIC CENTRES

Investing in the renovation of properties in historic centres can be highly advantageous. The rehabilitation of buildings is extremely important to promote the appreciation and dignification of buildings that are examples of excellence.

Learn the reasons why you may have advantages in buying a property and rehabilitating it.

Points of Unavoidable Interest // Beauty and History

Currently, the return to historic centres is a reality. Points of unavoidable interest, of singular beauty and history, these urban locations are ideal for living or investing. Building renovation projects in these locations have demonstrated how the old can gain a new life. By maintaining the old façades, these properties can become modern palaces on the inside. This solution gives a new life to the uninhabited historic centres of cities, providing modern apartments in reconstructed buildings.

Support Programmes for Property Renovation in Historic Centres

Currently, there are several programmes aimed at property rehabilitation. The IFRRU 2020 aims at urban rehabilitation, through application, for individuals or companies, in buildings more than 3 decades old and in locations such as historic centres.

In addition, for rehabilitation programmes of spaces for the purpose of renting, there are financings up to 50% with long-term loans.

Tax Benefits

There are several tax benefits that support investment in the rehabilitation of houses in historic centres.

Some tax benefits are: exemption from the payment of the Municipal Property Tax (IMI) which can range from 3 to 5 years; exemption from the Municipal Tax on Onerous Property Transfers (IMT) and reduction to 6% in the VAT rate.

Revitalisation of the Construction Sector

Rehabilitation has been a fundamental engine of revitalisation of the construction sector.

The saturation of construction in large urban centres led to an increase in property rehabilitation. The objectives for rehabilitating a building are several:

• Appreciation of certain areas or locations due to the increase in commercial interest.
•  Conservation and preservation of heritage.
• Demand from potential consumers.

Building rehabilitation has stood out compared to new constructions, which is why there are several challenges and opportunities for companies in this sector.

Building rehabilitation is an ally of sustainability in construction, given that the CO₂ emission produced by the complete demolition of a property, as well as its subsequent reconstruction, are higher than the rehabilitation intervention.

In light of this, it is expected that rehabilitation in the construction sector will have, increasingly, greater relevance for populations, for the economy and for the sustainability of the planet.

Conservation and Preservation of Heritage

Rehabilitation has the appreciation of emblematic architectural constructions and the historical preservation of the city as its main motivations. Giving a new life to an architectural heritage is bringing history to the present moment, exploring what is best that the heritage has to offer us.