Real Estate Consultancy in Portugal
Real Estate Investment in Portugal
Portugal is a top destination for expats looking to relocate, either for work or retirement. With an attractive climate, beautiful coast and friendly communities. Many choose Portugal's capital Lisbon, which is also the largest city in the country. Approximatelyjust over half a million residents, it's a manageable size, but with the amenities or luxuries you might expect from a European capital. Other popular expat destinations include the slightly smaller cities in Porto and Amadora, and the villages and coastal towns of the Algarve. Portugalin fact, has something offer to any foreigner who is looking for a change or a new life - whether the magnificent vibrant city living or a quiet rural retreat.
So, if you're planning on moving to Portugal, you'll definitely need to find a place to live. Around 75% of the people own their own homes in Portugal, which is 10% higher than the average homeownership rates in the UK or USA. There are no restrictions to buying a home in Portugal as a foreigner, and the real estate sector is well developed.
Trivial Chapter is most renowned organization in Portugal which is built on the trust of its clientele since last 25 years, provides all kinds of Real Estate Consultancy in Portugal.
Many foreigners have settled in Portugal - or invested in a second home here - already.
If you’re thinking of doing the same, Trivial Chapter will provide you all the services related to all processes and choices in Portugal.
Below we have explained all the information that will support/enable you to take a decision to make rest of your life – the best one with us in Portugal -
What’s the property market like in Portugal?
Property in Portugal right at the moment is a very hot investment. The average value of homes dropped dramatically during Portugal’s economic woes, losing around 11% between 2011 and the year 2012. However, after bottoming out in 2012, the market has recovered very well, reaching positive territory again in 2013, and showing a more stable signs of growth from the year 2015 onwards.
The Portuguese housing market, as elsewhere in the world, reflects the economy very closely - and this ongoing growth mirrors Portugal’s recent economic recovery. In the year October 2016 and onwards, property prices in all of Portugal’s 24 urban areas had showed significant growth, and the Lisbon metropolitan grew around 2.6% year on year. Some areas are growing significantly faster, however, with Santa Maria da Feira hitting an astonishing 12.2% growth in the same period.
Can foreigners buy property in Portugal?
There isn’t any kind of restrictions or paperwork for foreigners wishing to buy property in Portugal, so you shouldn’t have any issues. In fact, if you do buy a home in Portugal as a third country national, then you might be entitled to a ‘Golden Visa’ which gives you up to five years residency, if the propertybought price is over €500,000
What’s the approximate cost of different properties in Portugal?
So If you’re thinking of buying a property in Portugal, then the price you have to pay will be influenced significantly by where you want to live. The capital and the Algarve coastal areas are the most popular places there for expats looking to settle in Portugal. Across many types of property, the prices are fairly similar in these two mentioned areas, but as large apartments are at a premium in the capital city, these tend to be more expensive than along the coast.
How can I find a property in Portugal?
Trivial Chapter will assist you in finding the right property for you in Portugal.
We are group of Entrepreneurs & Business owners from Portugal who are successfully running Hostels, Language school in Lisbon & Cost De Caparica, with more then 25+ years of experience in setting up businesses under Build-Operate-Transfer (BOT) model.
Our organization was born in the year 2008 with the aim of providing services related to Business Investment, Business Setups and Immigration Services with the help of European Lawyer´s.
Trivial Chapter has helped many global investors who have successfully opened their businesses, such as Hostels, Retail , Saloon , Electronic shops as well as high end boutique shops in prominent parts of Portugal.
So, if you are thinking to relocate in Portugal, we will support you with all our resources in Portugal.
Our other services include –
- Business Investment in Portugal
- Business Setups in Portugal
- Immigration Services in Portugal
- Business Acquisitions in Portugal
- Business Mergers in Portugal
What are the steps to buying a property as a foreigner in Portugal?
Buying a property in Portugal isn’t too dissimilar to buying a home elsewhere in Europe or North America or anywhere else. You’ll need to:
- Decide which mortgages might suit you, and get an offer in principle so you have a budget in mind
- Find the property you want to buy, where we will give you ample options.
- We will help you to check contracts and make sure the property is surveyed
- Once finalised, you need to arrange money to buy the property.
- Sign the Contrato de Promessa de Compra e Venda (sale contract) with the notary
- Payments to be made
- You're now liable for property transfer tax (Imposto Municipal sobre Transmissões ) known as IMT. The amount you pay depends on the price of the property and your circumstances.
- The last step is to sign the Escritura Publica de Compra e Venda (Deed of Purchase and Sale) and have the property registered in your name.
What kind of taxes and fees will I need to pay?
Although you're liable to pay fees as a buyer, these vary according to the circumstances. The main cost is IMT transfer tax, which could be as high as 10% of the property value if you're non resident and live in a tax haven, or absolutely nothing if you're buying a low cost property as your main family home. We will assist you in the costs likely to be levied in your circumstances.
Fees and taxes that include are:
- Stamp duty: Levied at a flat rate, 0.8% the value of the home
- Property transfer tax: Imposto Municipal sobreTransmissões (IMT): This is calculated on a sliding scale depending on the cost of the home. A higher tax is payable if the property is a second home.
- Notary and land registry fees: These are usually combined and comes in at around 0.2% to 1.2% of the property cost.
Buying a property is a big and exciting step, but navigating the system in a new country can be a challenging issue. So, we understand your priorities ans we will help you in taking right steps.
Luckily, buying your dream home in Portugal should be fairly straight forward and we assure you our best services everytime.