Although the process of buying a property in Portugal is well-regulated, there are a number of things you need to be aware of when making your plans.
The dimensions of a property are often given in square feet/metres in Portugal - when comparing properties, make sure you check whether this includes outside areas such as patios or not.
Even if you are not planning to live in Portugal, you will need a Portuguese tax code and a correspondence address in Portugal - although this can just be a solicitor or estate agent's office. You can get a tax code from the local tax office in the area where you are buying and you will automatically be given one if you open a Portuguese bank account - which may be necessary for a Portuguese mortgage.
Be aware of the differences between urban and rural (Rustica) properties. Additional documentation (known as Caderneta Rustica) is required for rural properties, providing a more detailed description of the exact scope of the property (some areas of Portugal are still very rural).
Glossary of Key X Terms
Caderneta Perdial - Property Tax Document
Caderneta Rustica - Tax document providing an exact description of a property - rustic properties only
Certidao de Teor - Property Registration Document
Contrato Promessa de Compra e Verda - Preliminary contract of sale
Conservatoria do Registo Predial Notario - Land Registry
Escritura de Compra e Venda - Final deed of sale
IMOPPI - organisation to which all licensed Portuguese estate agents belong. Operates a professional code of conduct
Instituto dos Mercados de Obras Públicas e Particulares e do Imobiliário -see IMOPPI
IMT - Property Transfer Tax, payable at or before completion of sale
Imposto Municipal Sobre Transmissao Onerosa de Imoveis - see IMT
Licenca de Utilizacao - Usage License for a property
Mediador Autorizado - Licensed real estate agent
Notario - Notary Public - a solicitor responsible for conducting the sale of property
Numero Fiscal de Contribuinte - Portuguese tax code needed to purchase a property
Procurcao Publica - Power of Attorney - this can be issued by a Notario and allows an appointed representative to act for you in the purchase of a property
Registo - Property registration document
Rustica - A designation applied to properties in very rural areas.
