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Canadians Buying Real Estate Property in Portugal

Interested in a Portugal property purchase? 

Canadians are increasingly looking to buy real estate in Portugal, especially in the Algarve region. whether it’s a retirement home, vacation property or investment, Portuguese real estate has a lot to offer. Here is our guide for Canadians buying real estate property in Portugal.

Portugal has become a very popular destination for Canadians looking to purchase real estate abroad. There are many reasons for this, including the relatively low cost of living, great weather, and relaxed lifestyle. Portugal is also a very safe country to live in, with a low crime rate.

If you’re thinking of purchasing property in Portugal, there are a few things you need to know. In this guide , we’ll cover the following topics:

– The process of buying property in Portugal

– The costs involved in a Portuguese property purchase

– The different types of property available in Portugal

– Tips for Canadians buying real estate in Portugal

The Process of Buying Property in Portugal

The process of buying property in Portugal is similar to the process in Canada. You’ll need to find a real estate agent, get a mortgage, and go through the legal process of purchasing the property.

One thing to keep in mind is that the Portuguese real estate market is very different from the Canadian market. In Portugal, there are two types of properties:

– Habitation properties: these are properties that can be lived in, such as apartments and houses.

– Commercial properties: these are properties that can be used for business purposes, such as office buildings and retail stores.

If you’re looking to purchase a property in Portugal for investment purposes, you’ll need to buy a commercial property. If you’re looking to purchase a property to live in, you can buy either a commercial or habitation property.

The Costs Involved in a Portuguese Property Purchase

There are a few costs that you need to be aware of when purchasing property in Portugal. These include:

– The purchase price of the property

– Taxes and fees associated with the purchase

– The cost of furnishing and repairing the property

– The cost of living in Portugal

The Purchase Price of the Property

The purchase price of a Portugal property will depend on the type of property you’re looking to buy, as well as the location. Properties in cities like Lisbon and Porto will be more expensive than properties in smaller towns.

Taxes and Fees Associated With the Purchase

There are a few taxes and fees that you need to pay when purchasing property in Portugal. These include:

– The Property Transfer Tax: this is a tax that you need to pay when buying a property in Portugal. The tax is calculated as a percentage of the purchase price of the property.

– The Notary Fee: this is a fee that you need to pay when registering the property in your name.

– The Lawyer’s Fee: this is a fee that you need to pay for the lawyer’s services when buying a property in Portugal.

The Cost of Furnishing and Repairing the Property

Once you’ve purchased a property in Portugal, you may need to furnish and repair it. The cost of furnishing will depend on the type of furniture you buy. The cost of repairing will depend on the extent of the repairs that need to be made.

The Cost of Living in Portugal

The cost of living in Portugal is relatively low when compared to other Western European countries. You can expect to pay around €700 per month for a one-bedroom apartment in Lisbon, and €500 per month for a one-bedroom apartment in Porto. utilities will cost around €100 per month.

Ahsan Khan
Ahsan Khan
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