Before taking the decision

No other European country currently offers a comparable quality of life: . more than 300 days of sunshine on average per year . a cost of living 70% lower than Switzerland, 30% lower than France . a real estate market in development that offers very attractive opportunities . an attractive tax system for new residents . a cultural and gastronomic richness, gorgeous and varied landscapes . a very secure and peaceful country . a dense and modern transport network by air, road and rail.
Portugal has access to a quality public health system (12th in the OECD ranking). Two systems coexist: the public and private health service. The public health system provides a good quality of care. The costs are covered by the Portuguese social security system, but the waiting time for some consultations can sometimes be long. The private health system is not covered by social security, but you can take out private health insurance. Here the patient is considered as a client. Care is of a high standard and waiting times are almost non-existent.
The purchasing power is more than double that of Switzerland and one time higher than that of France. In 2019, the minimum wage in Portugal is EUR 600. The average salary is EUR 943. For comparison, you will buy there: . 1 coffee at EUR 0.75 . 1 baguette of bread for EUR 0.70 . 1.5 litre of Coca-Cola at EUR 0.95 . 1 cinema ticket at EUR 6.70 . 1 daily special at the restaurant for EUR 7.00
We are often surprised to meet a population of incredible kindness and courtesy. The Portuguese is at the same time welcoming, helpful, discreet, hardworking, polite and direct, builder and nostalgic, always honest and tolerant and deeply proud of his history.
Don't worry about it! Many Portuguese speak French. In addition, in recent years Portugal has welcomed a large number of new French-speaking residents throughout the country. Integration will not be at all difficult and if you want to immerse yourself more in the culture of the country, you are free to learn the language.
Growing fast! In recent years, Portugal has been attracting more and more foreign residents. This has naturally boosted the real estate market, mainly in the country's major cities (Lisbon and Porto) and on the seaside, particularly in the Algarve. Although prices in these regions have increased significantly, they are still significantly lower than those in other countries. And there are still many good deals to be made!
Unlike most European countries, Portugal did not experience the real estate bubble of the years 1996-2007. In addition, the crisis seems to have wiped out the inflationary price increase, allowing the country to maintain a relatively low price per square meter. As there is still a significant number of properties on the market and as new districts have been assigned to building zones in large cities, the risk of a real estate bubble is zero.
This will depend above all on your project, your budget and your objectives. There are all kinds of opportunities in all regions of the country. Whether it is a property you want to live in or not, a seasonal rental or a long-term rental, the demand is strong enough to make very interesting gains. You can expect a net return between 3% and 4%. This average takes into account costs such as building charges, consumption charges, annual property tax, agency fees and cleaning.
It is really very attractive! To boost its economy and attract new investors, the Portuguese government has introduced a series of measures that offer many tax advantages. Here are the main ones: .Granting of "RNH" status (Non Habitual Resident) for foreigners coming to Portugal offering an exemption from income tax for pensioners for 10 years and a flat-rate tax rate of 20% for working people .No wealth tax, .No inheritance tax for spouses and direct heirs, .No housing tax, .Moderate property tax: 0.3% to 0.5% of the property value, .Transfer tax: 1%-6% depending on the value of the property, .No VAT on rents (with some exceptions), .Moderate property taxes: 21% for legal entities through a SCI or 28% for non-resident individuals
Portugal has put in place legislation that protects buyers and regulates the market (land register, cadastral registration, mortgage registration). The administrative and financial procedures are therefore very similar to ours. You will have to sign a "Contrato de Promessa de Compra e Venda", which is the promise to sale. It is the legal document that sets the conditions of the sale. The final deed of sale "to Escritura de compra e de venda" is made with a notary. The latter then ensures the legality of the transaction. As soon as you have purchased the property, the notary will register you as an owner in the national register.

I have decided to buy a property in Portugal

Vie d'Azur has surrounded itself with the best skills necessary to make your dream of living in Portugal a reality: . Our real estate agency has developed a proven method for managing and monitoring real estate projects. . Vie d'Azur has built up a vast network of partnerships with the best real estate agencies in Portugal . Our real estate agency has built a motivated, committed and available team that is always ready to listen to you . Vie d'Azur works with its client to develop a complete action plan, monitors it and keeps its commitments . Over the years, our real estate agency has developed a strong negotiating power thanks to the experience it has acquired and its knowledge of the market . Our real estate agency provides you with all the best business skills (lawyers, notaries, bankers, construction and/or renovation contractors) . Vie d'Azur personally supports you throughout your project, advises you and recommends you on the best decisions to take
Vie d'Azur has signed partnership agreements with the most influential real estate agencies in each region of Portugal. We work locally and in close proximity to market players. This approach allows us to permanently benefit from a very attractive and high-quality range of real estate for all types of projects.
Buying a property in Portugal is a simple but regulated process. Once you have made your choice of the property, you will have to sign a "Contrato de Promessa de Compra e Venda", which is the promise of sale contract. It is the legal document that sets the conditions of the sale. Once the price has been agreed, your lawyer checks all the documents and writes the "contrato promessa de compra e venda" (contract to order). Each buyer must obtain the NIF, your tax ID. If you do not have an address in Portugal, you will be asked to have a tax representative (lawyer, accountant or someone you know). The final deed of sale "to Escritura de compra e de venda" is made with a notary. The latter then ensures the legality of the transaction. As soon as you have purchased the property, the notary will register you as an owner in the national register.
Purchasing costs are relatively low. You will have to pay 2 taxes; IMI (property tax) and stamp duty. IMI is calculated with a variable rate between 0.3% and 0.8% on the tax value of the property. Stamp duty is set at 0.8% of the value of the sales contract. To this must be added the costs of a lawyer (generally 1% of the purchase value + VAT), the notary (between 350€ and 500€) and registration in the national register (250€).
Many Portuguese banks offer very advantageous mortgage terms. We are in business with the main ones and we can quickly establish a personalized simulation that takes into account your financial capital.
As soon as you have chosen a property, we will put you in contact with one of our lawyers who will be at your side throughout the procedure. He will be in charge of checking the conformity of all documents related to the sale of the property (promise of sale, cadastral plan of the property, ensure that the property is not encumbered by a mortgage, etc.). We will accompany you until the end of the transaction and beyond if you wish.
Vie d'Azur can offer you a whole range of additional measures that you may need to complete all the formalities related to your installation in the country: . obtaining establishment documents . obtaining tax benefits . make the right choice of your health insurance . the import of your private vehicle into the country . contact with professionals in the building industry, janitorial services or moving, etc.
Every region of Portugal will be likely to charm you. We will be able to advise you to help you discover the region that will best suit you for your life project in Portugal.