Buying Property in Portugal

12/12/2023

Central Portugal Unveiled: A quick guide for Expats on Residency, VISAs, and Real Estate in the Heart of Lusitânia

Continue reading on the blog post

Ready to discover the allure of Central Portugal? 🇵🇹✨ Dive into our small topic guide for expats, where we unveil residency, VISAs, and explore the captivating real estate landscape in the heart of Lusitânea. Your journey to tranquility begins here!

19/07/2023

Many time my clients ask me for the major pitfalls they can find when buying property in a Portugal. So, I've listed 10 of them:

1-Not doing your research. This is probably the most important pitfall to avoid. Before you start looking at properties, you need to do your research and understand the Portuguese property market. This includes knowing the different types of properties available, the legal requirements for buying property in Portugal, and the taxes involved.

2-Not hiring a lawyer and English-speaking lawyer. It is essential to hire a lawyer who is familiar with Portuguese property law to help you through the buying process. A lawyer can help you negotiate the purchase price, review the contract, and ensure that all the legal requirements are met.

3-Not understanding the property condition. Before you buy a property, it is important to have it inspected by a qualified professional to ensure that it is in good condition. This will help you avoid any costly surprises after you move in.

4- Not considering the hidden costs. In addition to the purchase price, there are a number of hidden costs associated with buying property in Portugal. These include stamp duty, legal fees, and registration fees.

5-Not being aware of the tax implications. There are a number of different taxes that can apply to property ownership in Portugal. These include property tax, income tax, and capital gains tax. It is important to understand these taxes before you buy a property.

6-Not knowing that what you see isn't always what you get. In Portugal very frequently what you see is not all within the legal papers of the property. Buildings unaccounted for, wrong areas, issues regarding tracks, rights of passage, amongst many other. If you are not properly advised you can end finding out these problems only after you've bought. And going to a notary it's not a guarantee that everything is in order because under Portuguese law it's not their job to check these issues.

7-Not being aware of the cultural differences. Portugal has a different culture than many other countries. It is important to be aware of these cultural differences before you buy a property in Portugal.

8-Not speaking Portuguese. (Only if you do not engage an English-speaking lawyer to assist all the way) While it is not essential to speak Portuguese to buy property in Portugal, it can be helpful. This is especially true if you need to communicate with your lawyer, the property seller, or the local authorities.

9-Not being patient. The Portuguese property market can be slow-moving. It is important to be patient and not expect to find the perfect property overnight.

10-Not being prepared to walk away. If you are not happy with the terms of the sale, it is important to be prepared to walk away. There are plenty of other properties available in Portugal, so you should not feel pressured into buying a property that you are not happy with.

By avoiding these pitfalls, you can increase your chances of having a successful experience buying property in Portugal.

13/03/2023

When someone wants to come over and buy property in Portugal often faces a series of pitfalls.
And if they aren’t delt with before one buys, then the dram can become a nightmare.

The purchase process is a fairly standard procedure… pitfalls of buying property in Portugal

15/11/2021

What’s a title deed?

Think of it has the end of a journey.

You decide you want to leave your home country and start to find out countries that suite your intentions.

You see recommendations over Portugal, that the country is secure, people are friendly, the rural landscape is beautiful, the sunshine is immense, and you consider that option.

You begin to look for a property, and you find the right one.
Then you want to come over to visit it (to see some more information about traveling see this post here)

You come and visit it, make contact with the owner or the real estate.

You should then hire an English speaking lawyer that can help you cope with all the things that need to be secured (see this post for that here)

So, when you have an agreement, you lawyer will draft you a promissory contract, in Portuguese and in English, so you can put here all this issues you need to handle, and also all the terms of your agreement.

This contract states both parts obligations, and the terms of the deal, to be done, and can prevent the most common problems that buyers and sellers are unaware of. (see some of the problems here)
It also has the purpose to secure the property for you, if anything happens.

To continue reading, please click the link below.

Think of it has the end of a journey. You decide you want to leave your home country and start to find out countries that suite your intentions. You see recommendations over Portugal, that the country is secure, people are friendly, the rural landscape is beautiful, the sunshine is....