REAL ESTATE SERVICES
Your Real Estate Buyer’s Agent in Portugal
Navigate the Portuguese Real Estate market with our independent Buyer’s Agents
Purchase your dream Property in Portugal with Portugalxpert
PROPERTY PURCHASE
Experience tailored real estate assistance with our Buyer’s Agents. Our team ensures guidance and management during your real estate acquisition journey, by assisting you in the process of purchasing a property.
MARKET KNOWLEDGE
Our team offers insights, visuals, and comprehensive data on properties in several locations like Lisbon, Cascais, Setúbal, and the Algarve, ensuring adequate advisory and that you secure a valuable deal.
MORTGAGE SUPPORT
Leverage our established ties with most Portuguese banks and financial entities thanks to our partnership with Knowpedia. We're equipped to prioritize your needs, delivering optimal financial terms for your Portuguese property.
PRICING
Our remuneration is derived from the commission paid by the sales estate agency representing the property's seller and from banks. Only when managing investments and renovation projects do we introduce a service fee.
MARKET INSIGHT
Property Acquisition in Portugal
To successfully purchase a property in Portugal, most of the responsibilities lie with the buyer's agent and legal representative, whether you are physically present in Portugal or not. The initial phase of property acquisition involves discussing property requirements and characteristics as well as mortgage needs. Ensuring your documents are current and having the necessary funds for the investment are also vital aspects at this stage.
Get to know our simplified process:
1. Property Search
Let us streamline your search with advanced tools and off-market contacts, ensuring properties align with your requirements.
2. Curated Listings
Experience curated property selections in your desired locations, honed to match your criteria, so you view only the best fits.
3. Property Viewings
As a sole point of contact, we arrange property viewings with the listing agencies. If you're absent, virtual tours are at your service.
4. Legal Support
Get introduced to proficient English-speaking attorneys or, if preferred, appoint a lawyer of your choice.
5. Property Mortgage
Thanks to our Knowpedia alliance, we manage the entire mortgage process with leading Portuguese banks, securing ideal mortgage terms.
6. Deed Assistance
Witness effortless transitions at the notary’s office as we stand by your side, ensuring smooth property handovers.
7. Renovation Loan
Whether immediately post-purchase or later, we assist with renovation loans, taking care of the entire process.
8. Renovation Management
Need to upgrade? From subtle tweaks to major makeovers, lean on our renovation guidance and project management (fee applicable and available in certain locations).
9. Investment Management
Do you want us to take care of your real estate investment in Portugal? Benefit from our team to manage your property investment (fee applicable and available in certain locations).
PORTUGAL BUYER’S AGENT
Why do you need a Real Estate Buyer’s Agent?
Buyer's Agents are professionals hired to search properties in the open market, negotiate prices, and close the deal on behalf of the buyer, ultimately protecting the buyer's interests throughout the transaction. They bring an extra level of scrutiny and objectivity to the process, providing a much-needed layer of security.
IMPARTIAL ADVICE AND GUIDANCE
The unique structure of the Portuguese real estate industry often finds agents representing both buyers and sellers. Agents typically only share listings that their own agencies promote. This inherent conflict of interest creates a gap in the market and that’s why the concept of the ‘Buyer's Agent’ is increasingly becoming popular. This gains even more relevance in a market skewed toward sellers, with high demand, coupled with a relatively low supply of properties.
WAY TO AVOID COMMON MISTAKES
Without a good understanding of Portugal, you might purchase a property in an unsuitable area for your requirements. Additionally, you could underestimate the extent of renovations needed or misjudge the condition of the property, leading to an acquisition that doesn't align with your expectations. This underscores the importance of relying on local expertise in the property buying process, which will likely save you money and avoid major problems.
ONE STOP SHOP MODEL
An outstanding agent who has knowledge and experience in several areas can make all the difference. Prioritize those who not only know how to source and send over properties, but also how to analise a deal, provide mortgage advice, and knowledgeable about construction and property inspections. Knowledgeable agents who can offer you a well-rounded view of the property landscape and provide a one stop shop model are key to reduce touchpoints and bottlenecks.
Help us find your ideal Property
Types of Properties in Portugal
An important step is to be aware of the variety of homes in Portugal, from urban apartments and private villas to community-centered townhouses, peaceful country homes, and beach houses. Find the perfect match for your lifestyle and preferences as you explore the unique features of each property type.
Apartment
Typically found in city centers, apartments in Portugal range from compact studios to expansive luxury units. They often include modern amenities and are ideal for those who appreciate proximity to urban conveniences like cafes, theaters, and shopping centers. Their practicality and location make them a popular choice for young professionals and small families.
Townhouse
These vertical, multi-level homes are efficient in design and often found in residential communities. Townhouses in Portugal typically offer more privacy than apartments but with less maintenance and space commitment than a detached house. They might include communal amenities such as pools and playgrounds, appealing to small families or couples.
Detached House/ Villa
Villas or detached houses in Portugal offer substantial living spaces and often come with features like private pools, large gardens, and multiple bedrooms. These homes cater to those looking for privacy and space, and are frequently located in quieter, suburban or rural neighborhoods, making them perfect for larger families or retirees. This is also a costly option, normally.
Country House
Set in Portugal's countryside, these properties often feature a unique traditional architecture with modern comforts. They provide a peaceful retreat with plenty of space for gardening, animals, and outdoor recreational activities. Country houses are perfect for those who value solitude and a slower pace of life that is unlikely to find in city centers.
Beach House
Beach houses offer a unique lifestyle choice with their prime locations along Portugal's beautiful coastline. These properties are perfect for holiday homes or investment opportunities due to their appeal to tourists and seasonal visitors. Features often include terraces with ocean views, easy beach access, and a relaxed atmosphere.
VARIABLES TO CONSIDER
Property Characteristics
SQUARE METER
In Portugal, the typical measurement unit for real estate is the square meter (m²). It's useful to remember that this differs from the square foot (ft²) used in places like the United States. For conversion, one square meter roughly equates to 10.76 square feet.
TYPOLOGY
In Portugal, the typology of a property, indicating the number of bedrooms, is represented by the letter "T" followed by a number. For instance, T1 signifies a property with one bedroom, T2 for two bedrooms, and so forth. This classification is crucial property requirement.
VALUATION
In Portugal, property values are often gauged by square meter pricing due to limited public price history. This metric doesn't account for factors like location, window count, views, or local services. It's important to consider these aspects and conduct research to understand local property values.
MEET OUR TEAM
Hi! I’m João
Real Estate Buyer’s Agent - Lisbon, Cascais, Almada, Setúbal
My name is João, Real Estate Buyer’s Agent, Real Estate Project Manager, and Mortgage Broker in Lisbon, Cascais, Almada, and Setúbal.
Born and raised in Setúbal, lived in Cascais, and moved to Lisbon.
In the last few years, I’ve been involved in Real Estate projects, managing renovation projects, helping clients find and purchase properties, and providing the best mortgage solutions.
Hi! I’m Matt
Real Estate Project Manager - Algarve
My name is Matt, a former student of Harvard Business School, Property Developer, and Real Estate Project Manager, in the Algarve.
Grew up in the UK but 12 years ago I relocated to Lagos, in the sunny Algarve.
In the last few years, I’ve been running multiple businesses across Europe, been a property developer in Portugal, and regularly worked as a business coach and mentor, helping people start successful businesses in Portugal and beyond.
Hi! I’m Claudia
Real Estate Investment Analyst - Portugal
My name is Claudia, and I am Portuguese in my heart and soul. My background in Management and experience in Hospitality and Real Estate within Lisbon has led me to a career in Real Estate Management and Investment.
In the past few years, I’ve been involved in Real Estate projects, managing, renovating, and helping clients find and invest in properties.
When I’m not working, I love running, surfing, paddle boarding, and everything outdoors. I often come up with creative solutions for complex problems when I’m outdoors.
FAQs
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The Portuguese property market has witnessed a significant transformation in recent years. Here's a brief overview:
Post-2014 Revival: After facing challenges for several years, the property market started witnessing an upswing from 2014. This shift coincided with the country's economic recovery, bolstered by investments in infrastructure and policies promoting foreign investment.
Attracting Foreign Investment: Initiatives such as the Golden Visa program and the Non-Habitual Resident tax regime played pivotal roles in making Portugal an attractive destination for international investors and retirees.
Modern Day Scenario: Today, the Portuguese property market is flourishing, driven by both local and international demand.
Tech Hub Status: In recent times, Portugal, especially cities like Lisbon, has evolved into a recognized tech hub, which has attracted international professionals and further fueled the property market.
Supply vs. Demand: The high demand for properties, in contrast to a limited supply, particularly in sought-after areas like historic neighborhoods in Lisbon, has tilted the market in favor of sellers. This imbalance often results in competitive bidding situations for prime properties.
Understanding this evolution provides valuable context for potential investors and homeowners looking to engage with the Portuguese property market.
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When considering purchasing property in Portugal as a foreigner, here are the key points to note:
Type of Housing: Portugal offers a diverse range of properties, including land plots, apartments, houses, townhouses, condos, and luxury villas.
Location and Pricing: The property's location heavily influences its price. City centers like Lisbon and Porto, as well as oceanfront regions like Cascais, Lisbon South Bay, and the Algarve, tend to have pricier properties. Your budget will largely depend on the exact location and your housing preferences.
Foreigner Restrictions: There are no specific restrictions imposed on foreigners wishing to buy property in Portugal.
VAT Identification Number: One essential requirement for foreigners is obtaining a VAT identification number, known locally as the NIF (Número de Identificação Fiscal or Número de Contribuinte). This can be acquired by either opening a bank account in Portugal or visiting a tax office in the country.
Keeping these factors in mind will help you navigate the process of finding your dream home in Portugal more efficiently.
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Portuguese properties are renowned for their diverse architectural styles, which vary from urban to rural areas. Here are the notable characteristics:
Urban Architecture: In metropolitan areas, especially in cities like Lisbon and Porto, there is a fusion of historic edifices and contemporary structures. Notably, the Baixa district in Lisbon stands out for its Pombaline-style buildings. These are recognized for:
- A structured, grid-like street layout.
- Buildings equipped with pioneering anti-seismic construction features.
Rural Architecture: Venturing into the countryside, the architectural scene shifts towards more traditional designs. The characteristics of these properties include:
- Traditional Portuguese villas and farmhouses that often showcase the quintessential aspects of regional architecture.
- In regions like Alentejo, one can spot white-washed farmhouses set amidst expansive vineyards and olive groves, offering a serene and authentic Portuguese countryside experience.
This blend of historic charm and modern innovation in architecture makes Portuguese properties uniquely attractive to both residents and investors.
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Since 2015, Portugal's housing market has been following a distinct trajectory in comparison to the broader EU trends. Here's a concise overview of the developments:
General Trend: Portugal saw a minor setback with a 5.9% decline in housing prices in 2020. However, between May 2022 and May 2023, there was a notable increase of 6.5% in housing prices, as reported by Idealista.
Urban Centers Surge: Major Portuguese cities like Lisbon and Porto experienced significant price hikes. Specifically, from April 2022 to April 2023, some areas observed a staggering 10-15% annual increase in housing prices.
Lisbon vs. Countryside: A property in Lisbon, the capital city, now costs about 340% more than a comparable property located in rural Portugal.
Porto's Stance: As the second-largest city in Portugal, Porto also observed a surge in housing prices, which now stand approximately 170% above the country's average.
Affordability Metric: An interesting perspective on affordability can be gauged by the fact that an average Portuguese home is priced at roughly 25 times the annual GDP per capita. In Lisbon, where about 27% of the country's population lives and enjoys slightly higher average salaries, this ratio is even more accentuated.
The data underscores a clear escalation in housing prices in Portugal's urban areas, highlighting the challenges and opportunities present in the real estate sector.
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Buying or owning property in Portugal involves multiple tax considerations. Here are the main property-related taxes:
IMT (Imposto Municipal sobre Transmissões Onerosas de Imóveis) - Property Purchase Tax:
Purpose: It's levied on transfers of property rights over immovable assets.
- Application: Applies to all types of properties such as land, houses, apartments, and commercial properties.
- Rate: Variable, based on the property's fiscal value. For a primary residence, it can range from 0% to 8%.
IS (Imposto de Selo) - Stamp Duty:
- Purpose: A consumption tax for transactions not covered by VAT, including real estate transactions.
- Application: Applies to deeds, contracts, bank mortgages, loans, and titles related to real estate.
- Rate: Typically between 0.4% and 0.8%, varying by the nature and value of the property.
IMI (Imposto Municipal Sobre Imóveis) - Municipal Property Tax:
- Purpose: Annual property tax funding city councils.
- Calculation: Determined by applying a rate to the property's VPT (taxable property value). The rate varies by the property's age, its municipality, and property type.
AIMI (Adicional ao Imposto Municipal sobre Imóveis) - Wealth Tax:
- Purpose: Introduced in 2017, it's an additional tax on properties and construction land exceeding a certain VPT.
- Application: It's based on the sum of the VPT of all qualified properties held by a taxpayer on January 1 of each year.
IRS or IRC - Property Income Taxes:
- Purpose: Taxation on income derived from Portuguese properties, such as rental income or sale proceeds.
Mais-Valias - Capital Gains Tax:
- Purpose: Tax on profit made from selling a property.
- Calculation: It's the difference between the purchase and selling price. The tax owed depends on your residency status, how you hold the asset, and if it's your primary residence.
- Criteria: The tax amount varies based on one's residency status, the asset's ownership nature, and whether it's their primary residence.
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Hiring a real estate agent can be an advantageous decision when looking to rent a property in Portugal. They bring their professional expertise to the table, navigating through the market dynamics and simplifying the rental process for you. Here are some ways an agent can help:
Finding a Property
Real estate agents have extensive networks and access to properties that might not be openly listed on the market. They can help you find a property that fits your specific needs and preferences, saving you a lot of time and energy.
Arranging Viewings
One of the most time-consuming aspects of the rental process is coordinating and attending property viewings. An agent can handle this for you, arranging viewings that fit your schedule and providing valuable insights during the viewings.
Price Negotiation
Great real estate agents are experienced negotiators. They can help ensure that you're getting a fair price for the rental property, and they can assist you in negotiating terms that work in your favor.
Legal Support
Navigating the legal complexities of a rental contract can be daunting. Real estate agents can provide guidance and help ensure the contract is in your best interest. Some might include legal support in their service, but always clarify this at the beginning of the process.
Leg Work
A good agent is likely to do much more than just find a property and negotiate the price. They might also help with utilities, telecoms, and other logistics. They'll provide advice and support throughout the rental process, simplifying things for you.
Fees
Keep in mind that most real estate agents will charge at least one month's rent plus VAT for their services and sometimes even a fee. While this might seem like an additional expense, one should consider the time, stress, and potential pitfalls they can help to avoid.