Written by Kittenproperties
15.06.2023
Stepping into the world of real estate in Portugal can be like learning a whole new language. Real estate terms and jargon often seem confusing and even intimidating, particularly for those not native to the country. This guide aims to demystify that jargon, providing you with a clear, comprehensive understanding of Portuguese real estate terminology. Let's embark on this enlightening journey together.
Portugal's property market is thriving, attracting a diverse audience of both local and international buyers. The Golden Visa program, low property taxes, and attractive rental yields make it a top destination for real estate investments. Let's deconstruct the most common terms you'll encounter in this bustling market.
In Portugal, properties are broadly categorized as Residential, Commercial, and Industrial.
This category includes detached houses, apartments, and farms or estates (quintas). These properties are primarily designed for living purposes.
This includes shops (lojas), offices (escritórios), and warehouses (armazéns) — properties used for business operations.
This includes properties like factories and storage units designed for industrial use.
Understanding the buying process and the related terms is essential to navigate the Portuguese real estate market smoothly. The process typically includes Contrato de Promessa de Compra e Venda (promissory contract), Escritura Pública (public deed), and Registo Predial (land registry).
Portuguese real estate transactions often involve multiple costs and financial terms. Understanding these will help you plan your investment more accurately.
This is a long-term loan from a bank to purchase a property.
This is a progressive tax paid by the buyer when purchasing a property in Portugal.
This tax is applied to the legal documents involved in the transfer of a property.
Portuguese property law has its own lexicon, and some of the commonly used terms include Condominium (Propriedade Horizontal), Independent Unit (Fração Autónoma), and Joint Ownership (Compropriedade).
Terms related to property conditions are essential when evaluating potential investments. For example, Renovated (Remodelado) properties are updated to modern standards, while Properties to be Recovered (Para Recuperar) require significant repairs.
In Portugal, location-related terms like City Center (Centro da Cidade), Historic Area (Zona Histórica), and Residential Area (Zona Residencial) can greatly influence a property's appeal.
Navigating the real estate market becomes easier with the help of local professionals. Knowing these titles can help you communicate effectively and leverage their expertise.
A Real Estate Agent (Corretor de Imóveis) has detailed knowledge about the local real estate market and can assist in buying or selling properties.
A Property Appraiser (Avaliador de Imóveis) performs property valuations, determining the market value of a property.
A Real Estate Lawyer (Advogado de Imóveis) is a legal professional who specializes in real estate law. They can help with contracts, legal disputes, and other legal aspects of the transaction.
If you're looking to rent a property in Portugal, you'll come across terms like rental agreement, security deposit, and rent.
The rental agreement (Contrato de Arrendamento) is the legal agreement between the landlord and the tenant outlining the terms of the rental.
The security deposit (Caução) is a deposit that the tenant pays to the landlord as security against damages.
Rent (Renda) is the monthly rental amount the tenant agrees to pay to the landlord.
In Portugal, energy efficiency is taken seriously. Hence, you'll come across the energy certificate (Certificado Energético), which rates a property’s energy efficiency on a scale from A+ (most efficient) to F (least efficient).
As you delve into the vibrant world of Portuguese real estate, understanding the language will empower you to make well-informed decisions. Mastering real estate jargon may seem daunting at first, but with patience and practice, it will become second nature.The journey through the labyrinth of Portuguese real estate jargon may appear perplexing at first, but with this guide, we hope you feel better equipped. As they say, knowledge is power. The power to make informed decisions will prove invaluable in your Portuguese real estate ventures. Happy house-hunting!
The Golden Visa program is an initiative by the Portuguese government to attract foreign investors. It provides residency permits to non-EU investors who purchase property worth at least €500,000.
IMT, or Property Transfer Tax, is a progressive tax that property buyers need to pay in Portugal.
Propriedade Horizontal refers to condominiums, where a building is divided into independent units, each owned separately, with shared common areas.
Remodelado means renovated. It refers to properties that have been updated to modern standards.
Zona Histórica refers to a historic area, often with cultural and architectural significance. Properties in these areas often command higher prices due to their unique appeal and heritage.
Yes, you can. However, you'll need to register your property for short-term rentals and comply with certain regulations.
Yes, under certain conditions like non-payment of rent or if the tenant damages the property. However, eviction should be your last resort and must be done according to the legal procedures.
Yes, lease agreements can be extended. It's advisable to discuss and agree upon this with your tenant well before the end of the current lease.
While it's not mandatory, it's highly recommended to insure your property to cover potential damages or liability claims.
In such a case, you can start eviction proceedings. However, it's best to seek legal advice to ensure you follow the correct procedures.
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