Portugal Guide: Property
Buying a house is time-consuming, difficult and very expensive - especially if something goes wrong! Get your house search off to a good start with our property guide. Make sure you find out about the property market and understand how the system of buying a home works as it might be very different from your home country.
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Buying a Resale Home
What you need to know
Resale properties often represent good value for money in Portugal, particularly in resort areas, where the majority of apartments and townhouses are sold fully furnished, although the quality varies considerably (from beautiful to junk) and may not be to your taste.
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Building Your Own Home
What to bear in mind
If you want to be far from the madd(en)ing crowd, you can buy a plot of land ( lote) and have an individual architect-designed house built to your own design and specifications or to a standard design provided by a builder (some properties are specifically designed so that you can start with one or two bedrooms and add more later if desired or as your finances allow).
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Buying Through an Offshore Company
What are the advantages?
There are considerable advantages to owning a home in Portugal through an offshore company, particularly for non-residents, although the Portuguese tax authorities have recently introduced new tax measures designed to impose taxes on offshore companies.
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Contracts
All you need to know before signing a contract
The first stage in buying a property in Portugal is usually the signing of a promissory contract ( contrato de promessa de compra e venda), which sets out the details of the contract such as the identity of the owner, a detailed description of the property and land boundaries, registration and tax numbers, purchase price, deposit and date of completion
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