Buy in Portugal

Investing in property within Portugal comes with its own unique benefits. There are several good reasons to buy in Portugal such as the beautiful landscape and great weather, but some lesser known benefits include low cost of living and tax breaks for retirees especially with private pensions.

Portugal's Property Market

Portugal's property market has remained stable over recent years and the country's economy has recently seen a resurgence, so investing in property within the country is undoubtedly a good move financially. Whilst Portugal has long been a favourite with the British, it is now proving to be popular with many other Europeans.

Portugal's Non Habitual Tax Resident Scheme

Possibly one of the country's best kept secrets, The Non Habitual Tax Resident Scheme (NHR for short), is a scheme devised by the country's government to attract temporary and permanent residents to the country.

The NHR regime allows for someone with a private pension to be considered eligible to avoid tax, making this scheme ideal for those seeking to retire to Portugal.

This scheme is one of the reasons why Portugal is becoming so popular with not only British citizens but other European countries in particular Sweden, Germany, Belgium, France, Finland and Italy. Click for more information.

Did you know about the Portuguese Golden Residence Permit Program?

Now, non-EU citizens can look forward to fast-track immigration to Portugal, thanks to this new program. This special residence permit, also called Golden Visa, will be offered to investors, who fulfil certain conditions. Click for more information.

Mortgages in Portugal

The low mortgage rates within Portugal are a huge part of the appeal for foreigners looking to move to the country.

If you wish to purchase your dream home in Portugal and require a mortgage, these are offered by all the major Portuguese lenders to private individuals purchasing a property with a habitation license.

The banks offer loan terms of up to 50 years for residents and 30 years for non-residents. The maximum age upon maturity of the loan is 70 or 80, depending on the lender.

The maximum borrowing for non-residents is 70% of the purchase price/valuation price, again depending on the lender.

Buying Costs in Portugal

The cost of buying a property in Portugal comprises of the purchase price and closing costs. These costs include your lawyer's fees, transfer tax, stamp duty, notary & deed fees. They should not exceed 8 percent of the purchase price. The buyer does not pay any estate agent fees - the seller pays this.

The Purchase Process

Once you have decided to buy in Portugal you should find a lawyer (advogado) or solicitor (solicitador) to look after your interests in the purchase process. In Portugal there are many that speak English.

There are two stages to the buying process. The first is the Promissory Contract between buyer and seller. This is a legally binding contract, prepared by your lawyer.

The deposit is agreed between seller and buyer but is typically between 10-20 percent of the purchase price.

Once the Promissory Contract has been signed and deposit paid, should the seller pull out of the sale, he/she is required by law to repay twice the deposit amount to the buyer. Should the buyer default they would lose their deposit.

The second part of the transaction is the final deed (Escritura), this is the point at which the property ownership is transferred to the buyer. As with the promissory contract, it is signed in front of the notary. (insert link on buying in Portugal)

Contact Buy Portugal for Further Information About Buying in Portugal

For any further information and advice regarding buying in Portugal, contact Buy Portugal today on: 01925 414422

Our team are ready to help and advise you on buying and selling property within Portugal.

New and Featured Properties

Western Algarve

*** Featured ***
Lagos
Prime location, walking distance to Porto de Mos beach, generous terrace, parking for 2 cars, communal facilities including roof top terrace with Jacuzzi and communal swimming pool, air conditioning, beautifully presented and in excellent condition, rental investment opportunity. Ref:GA429

231m² 2 2 Communal
750,000

Lisbon

*** Featured ***
Oeiras
Top floor apartment with 171 sqm private terrace in this exclusive new development very close to the Natural Park in Oeiras. In a minimalist style with neutral tones. The building will have parking and two lifts. Different size units available, ask for details. Ref:ASA332I

456m² 4 5 none
1,360,000

Silver Coast

*** Featured ***
Obidos
Praia del Rey Golf Resort - Single storey detached villa enjoying views over the golf course and walking distance to the beach. Sold fully furnished with 4 double bedrooms all with built in wardrobes. Outside there is a large heated swimming pool, roof terrace and garden. Ref:AV2165

212m² 4 4 Private
795,000

Lisbon

*** New ***
Lisbon
Existing building in the sought after Misericordia area, in need of demolishing or to rebuild and create 3 luxury apartments with swimming pool. In the heart of Lisbon, in a popular and attractive residential area, 10 minutes to Lisbon airport. Ref:SAV328

9 3
1,950,000

Silver Coast

*** New ***
Foz do Arelho
Build your own villa. Good countryside elevated location with far reaching views, most sought after location of Foz do Arelho, less than 1 hour from Lisbon airport, close to the beach and lagoon. Two plots available. Good views over the village. Ref:AP268

195,000

Western Algarve

*** New ***
Lagos
Extensive plot of land, permission for restoration of two existing ruins plus 2 new villas. This is a magnificent location, 2 minutes drive from Lagos, overlooking the beach. An investment opportunity not to be missed. 4km from golf courses, plots can be sold separately. Ref:GP024

none
3,500,000

Western Algarve

*** New ***
Lagos
Great development and tourist opportunity with seven separate plots that can be sold together or separately. Located close to the marina and beach, in a prime location with pre approval for construction of low rise blocks with parking and swimming pools. Various condominium options. Ref:GP065A

820,000

Lisbon

*** New ***
Cascais
Extensive plot of land, countryside location with sea views, close to the beach, with permission to build a 4 bedroom two storey villa with garden. Ref:ASP141

none
1,450,000

Silver Coast

*** New ***
Caldas da Rainha
Building plot in the heart of the village of Torre, 10 minutes drive from Caldas da Rainha, close to the Silver Coast beaches, sought after location, possible to build more than one property. Good local amenities within walking distance. Ref:AP267

99,000

Western Algarve

*** New ***
Praia da Luz
Extensive plot of land with rustic villa and ruin, countryside location near the popular town of Praia da Luz, requires some upgrading, good investment opportunity, terraces and patios, close to all amenities, mature fruit trees. Ref:GV650

3 2 none
595,000

Porto

*** New ***
Amarante
Charming renovated stone villa, elegantly presented, popular town of Amarante, additional plot of land which has building permission, countryside views over the mountains, games room, 45 minutes to Porto, multi car garage, 6 en suite bedrooms. Ref:ASV275

6 8 none
800,000

Western Algarve

*** New ***
Lagos
South facing urban plot, prime location in Lagos, popular, luxury sea front urbanization, permission to build detached villa, panoramic sea views, freehold, 400m from the sea, close to the marina, four separate plots available, constructed to your own requirements. Ref:GP057B

none
500,000