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Table 2 The IMT Rate for Private Property Purchases: Secondary, Rental or Holiday Home
ACQUISITION COSTS
Table 1 The IMT Rate for Private Property Purchases: Primary Residence
The tables below outline how the IMT system works for different property purposes.
Value of Property Marginal Medium*
Up to 92,407 0% 0%
92,407 to 126,403 2% 0.5379%
126,403 to 172,348 5% 1.7274%
172,348 to 287,213 7% 3.8361%
287,213 to 574,323 8% -
574,323 + 6% (single rate) 6% (single rate)
* In the upper limit of the scale
Value of Property Marginal Medium*
Up to 92,407 1% 1%
92,407 to 126,403 2% 1.2689%
126,403 to 172,348 5% 2.2636%
172,348 to 287,213 7% 4.1578%
287,213 to 550,836 8% -
550,836 + 6% (single rate) 6% (single rate)
ACQUISITION COSTS
Stamp Duty on Acquisition - Apart from the transfer tax, you will also
need to pay an acquisition stamp duty,
which is charged at a flat rate of 0.8% of the declared purchase price.
Stamp Duty on Mortgage - If you are using a mortgage to finance the purchase, the government currently
charges you at 0.6% of the final mortgage amount as the mortgage stamp duty.
Legal Fees - Legal fees comprise the cost of hiring a solicitor to conduct the conveyancing on the
purchase of a property. There are no standard industry rates, rather each solicitor
devises an individual fee structure. IP Global recommend buyers consult MACEDO
VITORINO & ASSOCIADOS, a professional law firm in Portugal.
Agency Fees - Buyers normally are not required to pay
agency fees and rather only the seller
bears such costs.
Mortgage Costs - The mortgage costs include the
arrangement fee charged by the lender
and the cost of using a mortgage broker.
These costs vary from lender to lender.
Valuation Fee - If you are financing the purchase of your property with a mortgage, your lender will
require a bank valuation to be undertaken.
The fee for this is dependent on the size
of the property.
Land Registry Fees - As mentioned earlier, the purchase of a
property in Portugal requires the registra-
tion of the deed as well as the mortgage
deed, in instances where the buyer is a
mortgage buyer. The registration fee for
both deeds is paid by the purchaser, at a
cost of approximately EUR250 per deed.