Introduction to Portugal

Buying in Portugal

It is highly recommended that you use a Portuguese property lawyer to assist with the purchase of a property in Portugal.

Most lawyers in the Algarve speak English and their fees are generally around 1 to 1.5% of the value of the property.

Once a price has been agreed between you and the seller of the property, you will be in a position to sign a ‘Promissory Contract’. At this stage, a deposit of between 10-20% is paid (this may be more if agreed by both parties).

The Promissory Contract is a binding document signed by both parties, which states all of the terms & conditions agreed, such as the price and completion date of the purchase.
More advise about buying in Portugal.

Facts about Portugal

Size

• Portugal 93,000 km²
• UK 245,000 km²

Population

• Portugal 10,102,022 (July 2003)
• UK 60,094,648 (July 2003)

Portugal F.A.Q.s

Q: Can I afford a property in Portugal?
With UK property prices increasing, many people are using equity from their current home to fund a foreign purchase.

Q: Can I get a Portuguese mortgage?
You can arrange a mortgage up to 75%-80% of the value of the property as a maximum, subject to status.

Q: What’s the market like in Portugal?
The Portuguese property market is very robust, with expected price increases ranging from 10%-25% depending on area.

More answers to frequently asked questions about Portugal