Purchase Costs when Buying Property in Portugal
What are the extra costs on top of the purchase price?
Most of the people who ask me that question, directly add a wrong answer: I have read that I have to count on 10% of the purchase price.
I don´t know who is spreading this wrong information because if this would be true, it means that if you buy a property of € 2.000,00 you pay € 200 purchase costs and if you buy one of € 200.000,00 you pay 20.000,00? Ouch.
It is true that it works with percentages, but that is only for the transmission tax (0-6,5%) and stamp duty tax. (0,8%)
The notary costs and property registration costs are always fixed costs. If you buy it from one owner, you pay only one deed. One property could be consisting out of a number of different articles. In this case only the registration costs will be affected.
On homekeyportugal.com you will find the overview and explanation of the purchase costs.
Send me a message if you have any doubts!