Written by Kittenproperties
07.06.2023
Embarking on a journey through the Portugal real estate market? Your adventure may feel overwhelming without the right map to navigate the property landscape. That's why we've put together this comprehensive guide, packed full of terms and phrases that are crucial for understanding the Portuguese property market.
Imobiliária is the Portuguese term for a real estate agency. This is where you’ll likely start your property search. Imobiliárias offer listings for a wide range of properties, from apartments to villas, and their agents can provide valuable insights into local market conditions.
Escritura refers to the deed of a property. It's a legally binding document that proves ownership and contains information about the property and the terms of the agreement.
Caderneta Predial is an official document that provides detailed information about the property, including its fiscal situation and technical characteristics.
Once you've chosen a property, the next step is Reserva or Reservation. This involves a small deposit to secure the property while the necessary checks are made.
The Contrato de Promessa de Compra e Venda, or Promissory Contract, is a legally binding agreement between buyer and seller outlining the terms of the sale.
When purchasing a property in Portugal, the buyer must pay the IMT or Property Transfer Tax. The rate varies depending on the property value and type.
A Moradia is a detached house, usually with its own garden or yard. These are common in suburban and rural areas of Portugal.
Apartamentos, or apartments, are the norm in Portugal's urban areas. They vary greatly in size, from studio apartments to large family units.
Quintas are large properties or estates, often including farmland and vineyards. They provide a unique investment opportunity for those interested in a more rural lifestyle.
A Crédito Habitação is a mortgage, the most common method of financing a property purchase in Portugal.
The Euribor is a reference rate used for variable rate mortgages in Portugal. It is essential to understand this term as it directly influences the interest on your loan.
TAN and TAEG are interest rates shown as a percentage of the loan value. They represent the cost of borrowing money and are key factors when comparing loan offers.
The Avaliação do Imóvel is the appraised value of a property. This assessment, performed by a professional appraiser, is crucial for securing a mortgage.
The Valor Patrimonial is the value of a property according to the tax authorities. It is used to calculate property taxes and can differ significantly from market value.
The Valor de Mercado is the price a property can realistically achieve in the current market. Understanding this term is essential for both buyers and sellers.
Proprietário refers to the individual or entity that owns a particular property. This is the person you'll be negotiating with when purchasing a property, often with the assistance of a real estate agent or solicitor.
Co-proprietário signifies a co-owner of the property. In Portugal, multiple people can share ownership of a property, and this term is used to refer to each individual owner.
Titular is another term used to denote an owner or holder of the property. It's usually used in the context of legal or financial documents.
Arrendamento refers to the rental market in Portugal. Whether you're looking to rent a property or lease out your own, understanding this term is crucial.
Inquilino is the Portuguese term for a tenant or renter. If you're planning to lease a property in Portugal, you'll be known as the inquilino.
Senhorio refers to the landlord or property owner who rents out their property. As a tenant, this is the person you'll be dealing with regarding your rental contract and property maintenance.
Localização is a term you'll frequently come across when exploring Portugal's real estate market. As in other markets worldwide, the location is a critical factor that affects property value and desirability.
Vista Mar, or sea view, is a desirable feature in Portugal, especially in coastal areas like the Algarve or Cascais. Properties with a Vista Mar often command higher prices.
Centro da Cidade refers to the city centre or downtown area. Properties in these areas are often in high demand due to their proximity to amenities and city life.
A Piscina is a swimming pool, a popular amenity in many Portuguese properties, particularly in the sunny regions of the Algarve and Madeira.
Garagem is the Portuguese term for a garage. This feature can add considerable value and convenience to a property, especially in busy city centres where parking is scarce.
A Terraço or terrace is another desirable feature in Portuguese properties, offering additional outdoor space for relaxation and entertainment.
Navigating Portugal’s real estate market can be a breeze once you understand the local lingo. From Imobiliária to Valor de Mercado, mastering these terms will equip you with the knowledge to make well-informed decisions about your property journey in Portugal.Whether you're a seasoned investor or a first-time buyer, understanding Portugal's real estate terminology can enrich your property journey. With this comprehensive glossary at your fingertips, you'll navigate the market with confidence, making informed decisions that align with your property goals.
An Imobiliária is a real estate agency in Portugal. They can assist you in finding properties and understanding the local market.
TAN is the Annual Nominal Rate, showing the base cost of your loan. TAEG is the Annual Effective Rate, which includes other costs associated with the loan, such as commissions and insurance.
A Quinta is a large estate or farm, often with farmland or vineyards. It's a unique property type typically found in Portugal's rural areas.
Valor de Mercado is the realistic selling price of a property in the current market, influenced by factors like location, property condition, and market demand.
IMT, or Property Transfer Tax, is a tax paid by the buyer when purchasing a property in Portugal. The rate varies depending on the property value and type.
A Proprietário is the owner of a property. If you're purchasing a property, this is the person you'll be negotiating with.
Arrendamento refers to the rental market. If you're looking to rent a property in Portugal, you'll be entering the Arrendamento market.
Vista Mar means sea view. Properties with a Vista Mar are highly desirable, particularly in coastal regions of Portugal.
A Terraço is a terrace. This is a desirable feature in Portuguese properties, offering additional outdoor space.
Garagem is the Portuguese term for a garage. This feature adds value and convenience to a property, particularly in city centres where parking can be limited.
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