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Rented accommodation in the cities and tourist centres is expensive in relation to average Portuguese pay, and is in short supply.
Rentals are normally for a minimum of six months. Estate agents managing
rental (and purchase) property should be licensed as Mediador Autorizado
(Authorised Mediator).
Main services occasionally do not reach most remote areas.
One
month's deposit is required when renting property. One month's notice is also
required. Ensure that you use a licenced Mediador Autorizado.
Finding accommodation
Availability
There is a shortage of accommodation in the large cities and towns, particularly Lisbon,
Porto and in the coast of Algarve. It is easier (and less expensive) to find accommodation in the neighbourhoods of these cities that usually have acceptable-to-good transport connections.
Renting
Because of the general shortage, it would be prudent to try finding a job where accommodation is provided or where help from the employer is offered in finding affordable accommodation. Most newspapers advertise accommodation to rent
(alugam-se). There are also adverts for accommodation in the English language "Anglo-Portuguese News". Always refer to the advertises announced with the reference
Mediador Autorizado.
Buying
Estate agents and newspapers are a good way of finding suitable properties. Mortgages are available from banks.
Accommodation costs and contract
Rents fluctuate according to location, quality and number of rooms.
The minimum rental contract is usually
six months and although accommodation can either be furnished or unfurnished, this factor does not usually affect the price. If you are planning to stay for a longer period, it may be cheaper and easier to buy accommodation instead of renting accommodation, which is expensive and scarce.
Mortgages for house purchase can be arranged through banks with their conditions varying according to the financial situation of the mortgagee and the location of the property.
There are also variations among different banks.
Real estate acquisition tax normally amounts to 10
percent of the purchase price. (You will need a Portuguese fiscal number to buy property, which you must have in any case for your income tax.)
A notary (notário) takes care of the whole house-buying transaction (escritura). In general, a temporary purchase contract
(contrato promessa de compra e venda) will be signed before the definitive contract
(escritura) is finalised. You do not need a notary for this, but the temporary purchase contract must be signed on special stamped paper
(papel selado), which you can buy in writing material shops.
Further details
Water bills are usually paid on a monthly basis and mains gas is available in most cities; bottled gas is widely used elsewhere.
There is a local municipal property tax
(Contribuição Autárquica) based on the value of the property, the desirability of the location and the standards of local services.
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
Text last edited on: 01/07/2003
Source: European Union
© European Communities, 1995-2007
Reproduction is authorised.
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