New property capital gains coefficients for 2026

How Have the Coefficients Been Updated?

The monetary devaluation coefficients have been updated for 2026 under Ordinance No. 457/2026/1, published in the Diário da República on 15 October. These values allow the acquisition cost of certain assets and rights to be adjusted for inflation when calculating personal income tax (IRS) and corporate income tax (IRC).

What Impact Do They Have on Property Sales?

When a property is sold at a capital gain, monetary devaluation coefficients allow the acquisition value to be adjusted before calculating the gain subject to tax. This takes into account the loss of purchasing power over time, preventing nominal price increases from being mistaken for a real increase in the property's value.
The table specifies the applicable coefficient according to the year the property was acquired. Anyone selling a property in 2026 should therefore consult the newly published figures to calculate property capital gains.

The Table Also Covers Other Assets and Rights

Although relevant to property capital gains, monetary devaluation coefficients can also apply to certain transactions involving financial assets and shareholdings.
These include the sale of shares and company interests, bond redemptions, the redemption of units in investment funds, and certain company mergers, demergers and liquidations. Their application depends on the conditions set out in tax legislation.

When Can the Coefficients Be Applied?

The monetary adjustment provided for under Article 50 of the Personal Income Tax Code requires more than 24 months to have elapsed between the date of acquisition and the date of sale. This condition must be checked before applying monetary devaluation coefficients when calculating capital gains.
Consulting the table in force for the year of sale is therefore essential to determine the adjusted acquisition value correctly and calculate the taxable amount.

Source: SUPERCASA