Home Property in Portugal
How to buy a house in Portugal?
Here you will find the detailed information about real estate purchasing in Portugal:
- the right way to choose the property and to effect the deal;
- property taxes and duties that should be paid;
- everything about home loans in Portugal;
- home property management and renting;
- rental, commercial properties and related investment properties.
Real estate for sale
Most recent offers from house owners in Portugal and from real estate agencies. Advertisements with the fixed price and auctions are listed here.
You can leave a comment and give advice to other visitors planning to buy a home in Portugal.
Portugal - a country known as a place where you can relax by the ocean , enjoy local wines and enjoy a game of golf. The advantage of Portugal as a place for recreation , is also the fact that there are fewer tourists than in other European countries. So many Russians decide to buy a property here in order to carry out here for a vacation . But buying a house or condo in the country has several other advantages.
Multivisa for property owners
Buying property in Portugal, first of all, is due to favorable climate of this country. The mild Mediterranean climate , the lack of extreme temperatures , the proximity of the sea - all these natural conditions will give you the opportunity not only to relax but also to improve their health . The climate is favorable for people suffering from cardiovascular diseases , asthma and allergies. To the warm caressing sea helpful to remove the children. Due to the absence of sharp contrast , winter-summer , you can relax in this country when you have the opportunity to : tourist season lasts all year round.
Property prices in Portugal are growing constantly . Therefore, buying a house or apartment, you can profitably resell your property in a couple of years for a much larger sum . If you do carry out a reconstruction or major repairs done , then the price of your property may increase by half.
Buying a home in this country gives you the right to receive multiple entry for all family members with the right to stay in the country for 180 days a year.
If you do not plan to live here permanently, you can rent their villa or apartment for rent : in Portugal quite agencies that take care of all the associated hassle .
Are you going to buy a property for permanent living or for temporary visits, in any case, you can be rest assured about their safety : the crime rate - the lowest in Europe.
If you are planning to open a business in this country, then buying a subsequent repair ( or rebuilding ) property - one of the most profitable ways to invest. Construction of the country is on a large scale , while local companies can not cope with the increased volumes , so the government gives tax breaks to foreigners who invest in this area .
Once you have decided on the choice of the object of purchase , you need to start the paperwork. This procedure is quite complicated , so buying property in Portugal is better to entrust a local attorney.
The first step is to make legal review of documents to the chosen house or apartment. Lawyer checks required for the sale of a package of documents , as well as the lack of real estate debt or other obligations .
For the examination of your presence in the country is not required. You can also draw power of attorney to the lawyer to carry out all stages of the transaction. The cost of such services ranges from 1 to 1.5 % of the full price of the property in Portugal.
In some cases, after the examination of the object is assessed . This is usually done if you are going to get a mortgage . In the evaluation of the object identified all of the potential problems associated not only with the object itself , but also the surrounding area , for example, plans for the construction of new roads near your home or building new homes.
Then you need to get your personal tax number . It is necessary not only to purchase the property , but also to open an account at a local bank , as well as for the future payment of utilities and taxes. Tax identification number is obtained with the tax authorities on the location of your future home or apartment. The service cost is 25 euros.
In some cases, in order that the object had been reserved for you , you need to make an advance payment , which may be around 5000 euros. This amount will continue to be deducted from the total amount of payment.
After all of the checks carried out preliminary contract of sale of real estate. The contract contains a complete description of the object , as well as prescribed price, terms and manner of payment , the amount and terms of payment of the deposit . The deposit is generally from 10 to 30% of the total amount of real estate.
If you change your mind on the purchase of the house or apartment , you lose the right to return the deposit . If the seller changed his mind , he is obliged to reimburse you for the amount paid at double time.
When signing the contract lawyers , signatures must be certified by a local notary .
Payment for your chosen property is non-cash . To do this you need to open an account at a local bank to give your lawyer power of attorney to transfer money from your account to the account of the seller .
To open an account in a Portuguese bank you will need to provide the following documents: birth certificate, marriage certificate, proof of address , income tax return for the previous year , proof of employment , as well as evidence of your tax ID number. All documents must be translated into Portuguese .
If you do not want to waste time on opening your own account , you can transfer money to your lawyer and he will forward the funds to the seller .
The conclusion of the main contract is made simultaneously with the payment of the full value of the property and carried out in the presence of a notary. The period from the conclusion of the preliminary contract before signing the main can take from one to six months. Notary services in the order of 1.2 % of the purchase price .
For the conclusion of the final contract , the following documents : an extract of the land cadastre , housing certificate , certified by the municipal authorities, site plans , an extract from the tax office , proof of payment of taxes on the property for a period of five years , the passport of the object , as well as the receipt of payment of stamp duty .
After the final transaction your lawyer will make registration of your rights in the land registry .
Loans for buying real estate
Get a mortgage in the Portuguese bank can only personally . You have to be in the country and provide the bank with the following documents : passport, income tax return , tax number and specimen signature of Portugal . All documents must be translated into English and notarized. It is also necessary to transfer to the account of the bank's initial payment , the minimum amount of which is 2,000 euros.
Some banks may need to charge - a citizen of Portugal.
Credit is given for a period of ten to thirty years, depending on the price of the acquired property. The size will not exceed 80 % of the total project cost. The interest rate is 4 to 6% per annum.