Hidden Expenses in Portugal: Buying Property With No Surprises

Associated costs

Stamp duty (Imposto de Selo) is 0.8% of the property contract price. If the transaction is carried out with the involvement of a mortgage, then the fee is increased by another 0.04-0.6%.

The amount of property transfer tax (Imposto Municipal Sobre as Transaccoes/Transmissoes Onerosas, or IMT) depends on the type, value, destination (for permanent or temporary residence) and location of the property (mainland Portugal or islands). IMT tax rates are reviewed annually. For 2019, the following values are set for non-residents:

Permanent housing

Non-permanent housing

In addition, the property owner must pay the municipal tax IMI (Imposto Municipal de Imoveis) annually. The tax rate varies from 0.3% to 0.8% of the assessed value of the property. If the IMI tax does not exceed €250, it is paid in April of each year. If the tax amount is higher, it is paid in equal parts 2 or 3 times a year, in April and November or April, July and November, respectively.

The agency's commission is 3-5% of the transaction amount, plus 23% VAT (IVA) is added to this amount (paid by the seller). A lawyer will cost you 1-1. 5% of the transaction amount, and notarization starts from 1%. Registration of the NIF tax number costs €7.5. you will need to pay €250 for registration of ownership, and change the utility bill - from €100 to €200. When buying a mortgage, the property must be evaluated by a professional appraiser. The cost of its services is from €300.

Additional Expenses When Purchasing Real Estate

• Stamp duty 0.8% of the property value specified in the contract (+0.6% when using a mortgage)
• Property transfer tax From 1% to 6%, depending on the type, value and location of the property
• Agency Commission 3-5% of the transaction amount (+VAT 23%, paid by the seller)
• Lawyer services 1-1. 5% of the transaction amount
• Notary services €250-270 (usually 1% of the transaction amount)
• Registration of a tax number €7.5
• Registration of ownership rights €250 (when paying in cash), €200+200 (when making a loan)
• Change of utility bill €100-200
• Services of a fiscal guarantor €250 per year

Specific example

Apartment with two bedrooms 100 sq. m with garage. Large common area, guarded. Two swimming pools. City Of Albufeira, Portugal. 500 meters from the ocean.

Property price - €170,000
Notary services (approximately) - €250
Registers - €270
Connecting communications (approximately) - €20-40
Property transfer tax - €4,000
Stamp duty - €1,400
Total price of the property with all expenses and taxes - €175,950

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Studio in Vila Nova de Gaia, Portugal

41 sq.m 1 1 2

Residence Credit

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47 sq.m 1 1

Residence Online Viewing Remote Transaction Credit

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345 000 €

Apartment in Faro, Portugal

99 sq.m 3 2 2

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850 000 €

Apartment in Carcavelos, Portugal

123 sq.m 3 2 3

Online Viewing Remote Transaction Credit

Luxury two-bedroom flat with exclusive garden, in an exceptionally well-located condominium in Carcavelos, on the Cascais coastline. An area renowned for its beaches, proximity to renowned teaching centres such as the such as the Universidade Nova School of Business and Economics, traditional green spaces such as Quinta da Alagoa and...

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710 000 €

Flat in Vila Nova de Gaia, Portugal

188 sq.m 5 4

Residence

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855 000 €

Flat in Vila Nova de Gaia, Portugal

4 3

Residence

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196 sq.m 4 3

Residence

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1 207 500 €

Flat in Cascais, Portugal

139 sq.m 4 3

Residence

3 bedroom apartment located in São João do Estoril, just 300 meters from thelopment under construction with only 6 apartments and quality has balconies, parking and storage.!

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810 000 €

Flat in Lisbon, Portugal

128 sq.m 4 3

Residence

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792 000 €

Flat in Lisbon, Portugal

103 sq.m 3 2

Residence

Composed of 10 two, three and four bedroom apartments, it is an elegant and stylish residential its two distinct facades, this residential building is uniform in the way the interiors and exteriors are connected and benefit from the delicious Lisbon sun more than 270 days aENIENCE & WELL-BEINGIt is the home you are looking for, combining comfort...

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660 000 €

House in Algarve, Portugal

141 sq.m 4 3

Residence

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520 000 €

Flat in Algarve, Portugal

4 3

Residence

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3 100 000 €

House in Algarve, Portugal

389 sq.m 5 4

Residence

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3 500 000 €

Manor in Algarve, Portugal

101520 sq.m

Residence

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310 000 €

Flat on Madeira, Portugal

92 sq.m 1 1

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166 sq.m 4 3

Residence

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Flat on Madeira, Portugal

124 sq.m 3 2

Residence

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Mercury Group

1 850 000 €

Flat on Madeira, Portugal

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Residence

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575 000 €

Flat on Madeira, Portugal

2 1

Residence

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