Comparing to other countries tipically the Portuguese property Purchase Costs are bellow average comparing for i.e with Spain or even France. The main diference is that the costs are divided in diferent types creating the impression that there is much more to pay for!

When buying a property you will have 4 diferent costs that we explain bellow.

1. Private Notary or "Casa Pronta" Service - Final Registrations:
This is the cost for the the final deeds/completion. Here you can choose between using a Private Notary or the "Casa Pronta", the main difference between both is the cost. Your solicitor will be able to advise you on which to use. 

These costs will vary depending on:
If you are having or not a mortgage and the service you or your solicitor select for the completion: Private Notary or "Casa Pronta" Service

In the Private Notary, you can expect paying somewhere between 430 to 650 Eur. for the completion title and registration of the property in your name.

or

In the "Casa Pronta" Service, you can expect paying around:
- 350 Eur., if not using a mortgage or 650 Eur., when using a mortgage

2- Stamp Duty
- 0,8% over Purchase Price

and

- 0,6% over Mortgage Amount if applicable;

3. IMT (used to be called SISA)
- This is the tax you must pay when you purchase a property.

The calculations seem to be a little complicated, however we will give you an example to help you understand the how it works:

Table I
Rates applicable to existing RESIDENTS or turning in the following 6 Months

Purchase Price (euros)

Rates (%)

Deductible (euros)
Until 92.407 0 N/A
From 92.407 up to 126.403 2 1.794,00
From 126.403 up to 172.348 5 5.475,00
From 172.348 up to 287.213 7 8.821,00
From 287.213 up to 574.323 8 11.609,00
Above 574.323 6

 

Table II
Rates applicable to NON-RESIDENTS, HOLIDAY & SECUNDARY HOMES

Purchase Price (euros)

Rates (%)

Deductible (euros)
Until 92.407 1 N/A
From 92.407 up to 126.403 2 897,00
From 126.403 up to 172.348 5 4.578,00
From 172.348 up to 287.213 7 7.924,00
From 287.213 up to 550.836 8 10.712,00
Above 550.836 6

 


How to calculate the IMT?

Example for a Holiday Home that Costs: 250.000 €
Go to TABLE II to get Applicable Rate which is 7% and check deductible amount of 7.924 €
So: 250.000 € X 7% = 17.500 € - 7.924 € = 9.576 € - IMT PAYMENT


Other Costs?
4. Solicitor/Lawyer Fees
- These are variable but tipically around 0,75%* to 1% of Purchase Price.
All property buyers using our services will have access to a Solicitor with a substantial lower cost. This happens as all the properties we have are checked upon listing meaning that there are no doubts on property ownership.

*Special agreed price for TOPcasas clients

> TOPcasas Fees
- These are paid by the Vendor

Please remember we are selling properties day in, day out. If you need some more information, or you have a doubt regarding anything to do with purchasing property in Portugal, contact us and we will help you.

Follow this link to learn more on property running costs.

Original text by Richard @ TOPcasas Silver Coast Estate Agents

This information is provided as guidelines only and is no substitute for proper legal advice. TOPcasas Estate Agents accepts no liability for any mistakes or omissions herein and subsequent issues.