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Purchase Costs
Purchase costs when buying Property in Portugal
We made a overview for you of the expenses involved when buying a property in in Portugal. Please keep in mind that laws and rates are subject to change over time. Always ask for a detailed quotation of all costs involved before starting the buying process to know exactly what to expect.
Purchase Taxes
There are two types of taxes that you pay with the purchase:
Transmission Tax (IMT) and Stamp Duty Tax (IS).
IMT: Houses are taxed at 7,5% for non-Portuguese residents and with 1% of the purchase value for Portuguese residents until € 93,331 any value above that is charged with a scaling system between 2%-7,5%.
Rural land is charged with 5% of the purchase value.
Urban registered buildings that are used for storage are charged with 6,5% of the purchase value. If you buy a mixed property (both with a registered house and land) the notary will assign a value to the house and the land and charge the accompanying taxes.
IS: This tax is 0,8% of the purchase value.
Registrations
Your property need to be registered on your name after the deed. Costs of this registration depends on the number of articles the property exists of. For properties with 1 article sold with a value under € 10,000, the registration costs € 100. For all other properties, the first article registration is € 250 and all the other articles are € 50 each.
Solicitor / Notary Costs
The solicitor / notary assembles all paper work and makes the promissory contract (if needed) and final purchase contract. He executes the official process of signing the deed with the seller and buyer.
The costs per deed are between € 300 and € 500,-
