Buying a property in general should be for your own private use, at least that was the main reason for buying in the past.
Over the past 20 years, due to rise in rental and property prices, many (taking advantage of cheap money) shifted their focus, and the phrase “Buying to Let” has become a well-known slogan For instance, if you have cash of 300K, you could place it on a one-year deposit.
Frequently Asked Questions - Sales Tax Enforcement What purchase modalities are there on the platform? Electronic auction, closed letter and private negotiation modality. What is the electronic auction modality? Electronic auction is a type of sale that takes place on the internet, where those interested in buying a good submit their proposals, indicating the price they intend to pay for that acquisition, increasing the price that the previous bidder offered. On the designated day and time, the auction ends, and the last person who validly submitted a bid is in the winning position.
Right of preference: what it is, to whom it applies and how to proceed
At the time of purchase and sale of a property. Find out what it means, who applies and how to proceed.
Property Developers often sell some or all of their properties before they have finished building them. This is known as selling “Off Plan”.
The main attraction for members of the public to buy “Off Plan” is to save money. Property in Portugal is still growing in value and, by paying a deposit to secure today’s prices rather than paying a higher price at completion, profits can appear to be certain. But beware.
In order to complete a purchase of property, a number of documents are required and must be delivered to the Notary’s office at least one week before the date booked for signing the Deed of Transfer known as the Escritura. These are:
The legal regulations are very specific when buying a property in Portugal; however, it is always advisable to use qualified legal advice from a lawyer, solicitor or experienced person in this field.
