Living in Portugal - Accommodation

Renting

Most newspapers publish advertisements for renting property (‘alugam-se’ - for rent). There are also advertisements for accommodation in English, such as in the Anglo-Portuguese News. Always look for adverts stating ‘Mediador Autorizado’ (government licensed).

Rents vary according to location, quality and the number of rooms, e.g. 1-2 rooms, EUR 500 to EUR 1 000 per month, 4 rooms, between EUR 1 250 and EUR 1 500 per month. The minimum duration of a rental contract is six months.

Buying

Estate agents and newspapers are a good way to find high-quality accommodation. If you use a Portuguese estate agent, make sure that he is government licensed. Mortgages are provided by banks.

The purchase price of 100m2 home in Lisbon and the outskirts varies between EUR 150 000 and EUR 230 000. If you are planning to stay for a long period it may be cheaper and easier to buy rather than rent accommodation, which is more expensive and less common.

A mortgage can be obtained from banks, whose conditions vary according to the financial terms of the mortgage, the location of the property and the bank itself.

The purchase of accommodation is subject to a tax of almost 10% of the purchase price (before you can purchase the property you need a Portuguese taxpayer’s number and a Taxpayer’s Card - which you must already have if you pay tax).

A notary deals with the entire property purchasing transaction. A contrato promessa de compra e venda (preliminary contract) is generally signed before the final contract (escritura or deed of sale). The purchase of accommodation is subject to the payment of Imposto Municipal Sobre as Transmissões Onerosas de Imóveis IMT (municipal tax on the transfer of property for consideration), based on the value of the property, its location and local services. The rate of this tax varies from 0.7% to 1.3%.

Useful references:

• INH – Instituto Nacional de Habitação
  Av. Columbano Bordalo Pinheiro n. 5, 1099-019 Lisboa
  Tel: 21 723 15 00
  Fax: 21 726 07 29
• APEMI – Associação Portuguesa de Empresas de Mediação Imobiliária R. D. Luís de Noronha, n.º 4 – 1.º e 2.º
  1069-165 LISBOA
  Tel: 21 792 87 70
  Fax: 21 795 88 15
  Website

Text last edited March 2008

Source: European Union
© European Communities, 1995-2009
Reproduction is authorised.