Finance
The hidden costs of buying property in Portugal
Beyond the advertised price, buying in Portugal costs 8 to 12% more in fees and ancillary costs. Here is the real budget line, with no surprises.
Acquisition costs
On a typical €500k property: IMT ~€22k, Imposto do Selo €4k, notary ~€5k, lawyer €6k, property hunter €15k. Total ~€52k (10.4%).
Post-purchase costs
- Annual IMI
- Home insurance, mandatory for mortgages
- Condominium fees (apartments): €50 to €300/month
- Pool + garden maintenance: €200 to €500/month
Renovation: underestimated by 40%
Construction costs have soared in Portugal since 2020. Budget €1,200 to €2,500/m² for a mid-to-high-end renovation. Always allow for a 20% contingency.
Next step
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