Additional costs on purchasing a property in Portugal - values 2011

 

IMT (UNIQUE PURCHASE TAX – this is the tax that you have to pay if you purchase a property in Portugal) – please have a look on the following table - applicable since 1st of January 2011:

 

PERMANENT (MAIN) HOUSING in Portugal ( Permanent Living – First home )

 

Property Value                          Tax                         amount to be

Prices                               Média (1)                     deducted

 

 

0 – € 92.407            0%                           0%

 

   92.407   – € 126.403             2%                         - 1.848,14 Euros

 

€ 126.403   – € 172.348             5%                         - 5.640,23 Euros

 

€ 172.348   – € 287.213             7%                         - 9.087,19 Euros

 

€ 287.213   – € 574.323               8%                         - 11.959,32 Euros

 

More than 574.323 Euros      6%                          no deduction

 

 

SECONDARY HOUSING in Portugal ( Vacation / Rental / Investment – Secondary home )

 

Property Value                          Tax                         amount to be

Prices                               Média (1)                     deducted

 

0– € 92.407            1%                           0

 

   92.407   – € 126.403             2%                         - 924,07 Euros

 

€ 126.403   – € 172.348                5%                         - 4.716,16 Euros

 

€ 172.348 – € 287.213                7%                         - 8.163,12 Euros

 

€ 287.213   – € 550.836                 8%                        - 11.035,25 Euros

 

More than 550.836 Euros           6%                            no deduction

 

 

 

EXAMPLE: In case of the purchase in Portugal for a value of 200K Euro the basic tax is of 7% - but in reality have to deduct 8.163,12 Euros of the amount - this deduction is a kind of BONUS - you will pay for this property 5.836,88 Euros purchase tax (IMT)

 

What does that mean?

The tax office here in Portugal has a tax which is used depending on the price but where are considered in EACH CASE a kind of fix IMMEDIATE DEDUCTION open to every buyer…except for properties over 561.960 Euros where the tax rate is 6% WITHOUT reduction.

 

Please consider also the following costs:

 

1) Notary – depending on the notary between 300 – 400 Euros + Stamp Tax of 0,8%  of the property value

2) Registrations – between 200 – 300 Euros

3) Solicitor / Lawyer – approx. 1.000 Euros – 1.500 Euros + 21% VAT (depending on the solicitor / lawyer)

 

Please contact us for any informations you might need or for any doubts that you might have:

 

E-Mail: inquiries@silver-coast-properties.net

 

 

Properties in the Silver Coast Homepage

 


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It’s our job as Portuguese real estate professionals to provide you with as much valuable information as possible. It is essential that our clients be aware of all the aspects and the follow up costs of the real estate market in Portugal before making a major decision. Please download our free report concerning " Portugal - property purchase costs".

Additional Costs in purchasing a property in Portugal
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