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Comparing to other countries typically the Portuguese property Purchase Costs are bellow average comparing for i.e with Spain or even France. The main difference is that the costs are divided in different types creating the impression that there is much more to pay for!

 

When buying a property you will have 4 diferent costs that we explain bellow.

1. Private Notary or a public service named "Casa Pronta" - Final Registrations:
This is the cost for the the final deeds/completion. Here you can choose between using a Private Notary or the "Casa Pronta", the main difference between both is the location where the deeds are signed and the cost. Your solicitor will be able to advise you on which to use. 

These costs will vary depending on:
If you are applying for a mortgage or not and the location you or your solicitor/lawyer select for the completion: Private Notary or "Casa Pronta" Service

The costs will be somewhere around 480 Eur and 750 Eur depending on your choice for location and if mortgage is applied or not.

*paid only on the completion day
 

2- Stamp Duty
- 0,8% over Purchase Price;

and (if applicable)

- 0,6% over Mortgage Amount; 

*In either cases these costs are due only on the day of the completion;

 

3. IMT (used to be called SISA)
- This is a tax you have to pay when you purchase a HOUSE.

The calculations seem to be a little complicated, however we will give you an example to help you understand how it works:

Table I
Rates applicable to existing RESIDENTS or turning in the following 6 Months

Purchase Price (euros)

Rates (%)

Deductible (euros)

Until 92.407 0% N/A
From 92.407 up to 126.403 2%

1.848,14

From 126.403 up to 172.348 5%

5.640,23

From 172.348 up to 287.213 7%

9.087,19

From 287.213 up to 574.323 8%

11.959,32

Above 574.323 6%

 

Table II
Rates applicable to NON-RESIDENTS, HOLIDAY & SECOND HOMES

Purchase Price (euros)

Rates (%)

Deductible (euros)

Until 92.407 1 N/A
From 92.407 up to 126.403 2

924,07

From 126.403 up to 172.348 5

4.716,16

From 172.348 up to 287.213 7

8.163,12

From 287.213 up to 550.836 8

11.035,25

Above 550.836 6

Updated in September/2016 

How to calculate the IMT?

Example for a Holiday Home that costs: 250.000 €
Go to TABLE II to get Applicable Rate which is 7% and check deductible amount of 7.924 €
So: 250.000 € X 7% = 17.500 € - 8.163,12 € = 9.336,88 € - IMT PAYMENT

 

*This cost is due on only the day of the completion;

 

This rate if different when it is a LAND, a PLOT OF LAND or a RUIN. Then a flat rate is applicable:

- 5% for a rustic land

- 6,5% for a urban land


Other Costs?


4. Solicitor/Lawyer Fees
- These are variable but tipically around 0,75%* to 1% of Purchase Price.
All property buyers using our services will have access to a Solicitor/Lawyer with a substantial lower cost. This happens as all the properties we have are checked upon listing meaning that, there are no doubts on property ownership.

* Special agreed price for TOPcasas clients

 

5. TOPcasas Fees applicable to Buyers of Properties?

- There are NO purchase fees charged to the Buyer as these are paid by the Vendor

 

Please remember we are selling properties day in, day out. If you need more information, or have any doubts regarding purchasing property in Portugal, contact us and we will help you.

Follow this link to learn more on property running costs.

Original text by Richard @ TOPcasas Silver Coast Estate Agents

This information is provided as guidelines only and is no substitute for proper legal advice. TOPcasas Estate Agents accepts no liability for any mistakes or omissions herein and subsequent issues.

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