Reply To: How much deposit do I need to buy a house in Portugal?

Portugal Buying, Moving, Owning & Living Overseas How much deposit do I need to buy a house in Portugal? Reply To: How much deposit do I need to buy a house in Portugal?

#121765
Alys123

Hi Zak,

When you find your dream property and your offer is accepted, you will be asked to leave a reservation deposit,  which is normally  € 5,000 Euros. This will reserve the property for a stipulated time. This deposit is generally held by the lawyer until the CPCV – Contrato de Promessa de Compra e Venda (Promissory Contract) is signed. However, this may differ when buying a property from a developer.

Keep in mind that the property may be put back on the market, if you don’t leave a deposit or don’t keep to the time limit.

Once the Promissory Contract is signed you will be asked to pay a deposit that can vary from 10% – 30%. If you default you will lose your deposit. If the seller defaults they will have to you double the deposit.

Best of luck

Al