Buying a villa in Portugal
Villas at the coast
Houses in Portuguese cities
Apartments are available in all price categories and is mainly influenced by the location of the property. A large number of apartments have a balcony or roof terrace.
Villa’s in the countryside
Real estate agents in Portugal
Qualifications of Portuguese real estate agents
de Associação de Mediadores Imobiliários (AMI), Sociedade de Mediação Imobiliária of de Associação dos Mediadores do Algarve (AMA).
Fees for the real estate agency
Protection of the agency fees
Viewing at the cost of a real estate agent
Buying a house in Portugal
– Do you want to live in the house parttime or fulltime?
– Would like to rent it out?
– In what region should the house be located
– What kind of property are you looking for: villa, appartment, nr of rooms etc.
– What is your budget
Once the balance payment has been made, the official contract of purchase can be signed with the solicitor, who will provide the registration in the land register.
Pitfalls of buying a property
– Buying a house without constitutional rights
– Buying an illegally built house
– Outstanding mortgages
– Properties sold with overdue utility bills
– Buying a property that is being sold to multiple buyers at the same time
Letting your property
Property tax (fixed assets) in Portugal
Municipal: ~1% – highest rate
Rural: ~0.8% – lowest rate
Advice for viewings
– Create an agenda with daily viewings, do not plan more than 3 per day.
– Rent a car in advance to easily travel to each property.
– Make a list of phone numbers of contacts that may come in hand.
– Note down the addresses of each property you are going to visit.
– Have a clear overview of the requirements a property should meet.
– Passport / ID
– Tax assessment of the past year
– Money for a potential deposit (€3000 – € 6000)
– Overview of financial liabilities
Overview of costs that occur when buying a villa in Portugal
– Stamp duty
– Value added tax for new properties
– Solicitor fees
– Legal fees
– Land registration certificate
– Surveyor costs
– Real Estate agency fees
– Mortgage costs
Stamp duty (IMT)
Basic tax (VAT in Portuguese IVA)
Land registration certificate
Real estate agency fees