Buy Investment Property Portugal, Real Estate Property Sale Portugal

Property Portugal	PROPERTY SEARCH PORTUGAL
Portugal Investment Summary • One of the busiest airports in Europe • Just over 2 hours from UK • 29 championship golf courses • Low mortgage rates, up to 5 years interest only • Voted best investment in the World by Place in the Sun • Voted as one of the healthiest places to live by World Health Organisation • Building restrictions prevent high density construction • New motorways linking the whole country • Consistent capital growth • No inheritance tax
Portugal Introduction Superb beaches, traditional towns, and a landscape wreathed in olive groves, vineyards and wheat fields. Portugal is littered with world heritage sites and graced by one of Europe’s most relaxed and attractive capitals, it also remains refreshingly affordable. Savoring life slowly is a Portuguese passion, and much of the best is humble: traditional folk festivals, simple food, evocative music and markets overflowing with fish, fruit and flowers.While the official language is Portuguese, English is widely spoken in the resort areas. The standard of living is quite high and, since the country joined the EU in 1986, has risen steadily. The crime rate is comparatively low, and the health care is of a good standard.	Portugal Country Info: REGISTER FOR YOUR FREE PORTUGAL BUYERS GUIDE Population:10,566,212 Capital:Lisbon Languages:Portuguese Area (km2):92,391 Currency:euro (EUR) Dialing code:+351 Emergency services:112
Getting to Portugal: For those buying on the Algarve, a wide selection of low cost flights are available to Faro throughout the year from most regional UK airports. There are also plenty of options for scheduled flights to the likes of Lisbon and Porto, available through airlines such as BA and TAP. Buying process in Portugal: •When a property has been chosen, a buyer puts down a deposit of between £1,000 –£2,000, after which the buyers lawyer should carry out all necessary checks –title, building license, etc. •A preliminary contract is then signed which lays out the terms of the sale, including the completion date. At this point a deposit is paid, usually 10% -30%. This deposit is forfeited if the buyer backs out, and if the seller withdraws he/she must pay the buyer double the value of the deposit •On completion both parties sign the deeds (escritura) in front of a notary and ownership is transferred. The balance of the purchase price plus all fees and taxes must be paid before the escritura can be signed •As soon as possible after signing the deeds, the transfer of title should be lodged in both the land registry office and the local tax office •If buying off-plan a smaller deposit is usually required, followed by stage payments. This depends entirely on the developer. Fees and taxes in Portugal: •Transfer tax can be anything up to 8% depending on the value of the property. This must be paid before the final documents (escritura) are signed •Legal fees tend to be around 2% •Allow around 2.5% for notary and land registry fees and up to 0.8% for annual local taxes •Fees and taxes can vary greatly depending on the municipality, so be sure your lawyer checks out the relevant legislation thoroughly •Where applicable, VAT at the current rate of 19% applies. Your lawyer should check out what fees this affects