How much are property purchase costs?

Portugal Buying, Moving, Owning & Living Overseas How much are property purchase costs?

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  • #120565 Reply
    Archee

    Newbies!

    I need get some idea of what the buying costs will be on top of the cost of the property. We have just started looking at properties in the Algarve and are on a tight budget, so need to make sure we’ve allowed for these extra costs.

    Thanks

     

    #120578 Reply
    Fanrage

    Hi Newbies!

    As a rough guide you should budget for around 10% of the purchase price to cover your costs, although I would say in most cases it will be lower than this.

    Here are the fees payable when buying a property in Portugal. The costs will vary depending on the purhcases price, type of property and whether the property will be your primary or secondary residence in Portugal.

    – Transfer tax – IMT (notary and land registration fees are not applicable when buying a property which is held off shore)
    – Stamp duty
    – Notary fees
    – Lawyer fees
    – Land registry
    – Mortgage fees – if applicable
    – Surveyor fees – optional

    #120687 Reply
    Archee

    Really helpful. Many thanks for the info.

    Is there anyway to reduce the costs?

     

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