Costs related to selling a property in Portugal
Real Estate Agent Fees
Set at 5% of the sale price of the property. These are shared with several external parties and contribute towards the costs of the agents’ accreditation and insurance. However, this is the maximum you will pay.
Clear, simple professional photography will prove priceless, so it’s worth spending time on getting it right. Not only that, it will be great memento of your former home after you sell.
Dressing up your home
Make your home look as good as it can so it sells itself! De-clutter, move things to storage, give it a lick of paint but make sure it looks its best. First impressions are everything!
Gain a fixed price quote in advance.
Capital Gains Tax (Mais-valias)
This is a tax on the profit obtained from the sale of a property that was previously purchased at a lower price.
Your Lawyer, Accountant or Financial Adviser submits a report within a specific time period detailing all Capital Gains (and losses) to the Tax Department.
In order to determine the capital gains obtained, you or your representative has to volunteer the following information:
- Selling price
- Original purchase price
- Deductible expenses
- IMT costs on purchase, notary and registration charges and property enhancements in the last five years
Always consult with your Tax Advisor/Accountant for an in-depth, current review of the tax repercussions in the country in which you are residing.
If you don’t submit a tax return after the sale or pay the due tax on time there will be penalties and interest to be paid.
Please note: These notes are for guidance only and we cannot accept responsibility for any mistakes or misinformation. We always recommend you speak to a lawyer or tax advisor prior to any transaction as the laws are constantly being updated.