Welcome to Portugal Property Hub – we’ve done it, we are now up and running and can’t wait to help you find your dream home in this amazing country we call home.

Hub – the effective centre of an activity, region, or network

Portugal Property Hub is a contemporary, dynamic & vibrant real estate agency and we would love for you to read on to find out why we could be the real estate agent to find you your dream home in the sun.

We specialise in the selling of residential properties within prime locations of Portugal and pride ourselves on providing a personal and bespoke service to each and every client from start to finish. Due to the fact that we are a close knit team we are able to give our clients and vendors the time and dedication they deserve.

From years of living in Portugal and with a collective 50 years of working within its real estate sector, we have a real passion for the country, its people, its regions and its properties. 

We have all worked for some of the biggest real estate companies in the country and throughout those years we have acquired a wealth of knowledge. We have learned about Portugal and its property market so you don’t have to, we know what works for clients as well as finding out what doesn’t and we also found out what works best for us, how we can get the best out of ourselves to give you the best service possible. 

We are here for you – you have questions about buying or selling then we are here to answer them, you need advice on the best place to buy then we will share our experience and ideas with you – we don’t treat you like the next rung on the yearly sales ladder, we get to know you and your requirements first. We know we will find the best property for you and we will do so advising you and being with you every step of the way. We are here to make your property purchase, or sale, the stress free, exciting adventure it should be.

Based in Vilamoura in the Central Algarve we focus on the premier property markets of Quinta do Lago, Vale do Lobo, Vilamoura and the surrounding areas as well as in the Western Algarve and also the capital – Lisbon. 

With a vision to build one of the most comprehensive databases of available properties for sale we take great pride in the company we are creating. 

 

Selling through the Hub

 

When you decide to sell, you need an agent you can trust. We pride ourselves in delivering a reliable and personal service, tailored to achieving the highest possible price for your property within the timescale best suited to you.

We appreciate the care you have bestowed upon your home, we maintain the same level of attention. We can also offer advice on the presentation of your property to showcase it in the best possible light. We have in-house photographers and videographers with top of the range cameras and drones to capture your property from every possible angle.

From the moment you contact us, you will be dealing with an experienced professional who will act as your point of contact throughout. Our aim is to ensure your selling experience is as stress free and enjoyable as possible.

Within the last few years things have changed in terms of how clients source property. Today, 85% of all property searches start online. We have invested in a state of the art, yet simple and user friendly website to give maximum exposure of your property.

We advertise on international, award winning property portals and are building a great social media community through our LinkedIn, FaceBook and Instagram pages where we promote properties daily and are able to interact with potential buyers in real time to capture interest in your property quickly and professionally. 

 

Buying with the Hub

 

Buying property is a substantial financial commitment. For many it will be the single largest financial transaction that they will ever undertake. Get it right and it can be a very profitable, enjoyable and exciting experience – our sole purpose is to ensure that this is the case.

There are many companies to choose from when looking for a property and as the market in Portugal is generally a “non-exclusive” one you can potentially see the same property advertised with many different agents – and sometimes for a varying range of prices – so why choose us?

Estate agents typically receive a bad press and, in some cases, justifiably so. At Portugal Property Hub we aim, and are proud, to be different. We are committed to providing honest, straight forward advice and to deliver an exceptional standard of service that we can be proud of each and every time. 

If you don’t have the extra hours in the day to scroll through property after property, portal after portal, website after website you need to engage a local property expert to source properties on your behalf. 

We are local, we love property and we are experts in our field. Let us do the hard work for you. 

Once we know what you are looking for we will do the leg work of finding the right options so you can focus on researching all the other fantastic things about buying a property in Portugal – which beach you’ll try out first, which golf course looks the best for your game or where the tastiest Dourada is served.

We have spent, collectively, over 50 years learning about property in Portugal so you don’t have to. When you work with Portugal Property Hub we work with you to secure your desired property at the best price possible. We are here to answer all of your questions, fill in the gaps and only offer a level service to you that we would be happy, and expect, to receive ourselves. 

 

Trust – a firm belief in the reliability, truth or ability of someone or something

 

Every team member at Portugal Property Hub has worked through the highs and lows of real estate.

We have all worked through recessions and booms and during this time we have seen and overcome most problems and grown in confidence and knowledge.

We have built up an excellent relationship with leading property professionals, including other real estate agents, lawyers, wealth management teams and real estate departments of private banks to ensure we can provide you with the best advise throughout the whole process.

With so many agents to choose from we believe you should choose an agent you can trust, one who will be there for you whenever you need them and one who has the experience to advise you throughout the whole process. That agent is us – Portugal Property Hub. 

Welcome to Portugal, welcome home.

Even if your knowledge of Portugal is limited to Cristiano Ronaldo and pastel de natas, mmmm pastel de natas …. don’t dismiss looking into this fabulous country – and in particular the Algarve – as a possible relocation destination. Many expats, us included, will tell you that it only takes one visit before you find yourself falling in love and packing up your life and relocating to this beautiful country. 

Expats have been moving here for years thanks to the sunny weather, friendly people, relatively cheap living, great food and to escape the rat race and daily grind of living in their home country. The number of expats in Portugal rose 6% in 2017 to 416,682, comprised mostly of Brits, Americans, South Africans, Brazilians and Canadians. This trend continued into 2018 and with the threat of Brexit looming overhead many more Brits have now registered with the immigration services – SEF – and obtained their residências.

Many expats choose the Algarve as their location of choice when they move to Portugal. Home to more than 100,000 non Portuguese the Mediterranean climate, picturesque beaches, first class seafood and slower pace of life make it an obvious choice for those looking to live in the sun. Its mix of traditional and modern, cosmopolitan towns and typical Portuguese villages gives the Algarve an allure that few can resist once they have experienced it.

In 2018 Portugal was announced as the Top European Destination for Expats and sixth in the world. 

However, if you imagine that your Algarve life will run the same way as back home, be prepared for some degree of a culture shock, this may not be the case. 

The 14 years that I have lived in the Algarve have been amazing and I truly call Portugal my home. I love the people, the climate, the food and the beaches – but don’t get me started on the red tape, paperwork and bureaucracy! When you initially move over here there does seem to be a common rite of passage for expats – a community largely tied together by our mutual confusion when trying to work out the order in which we need to go to the finançes and câmera to get paperwork, in order to then move onto the next hurdle of understanding which documents out of the ones we have been given we actually need to bring to our SEF appointments as well as navigating through the obstacles of general Portuguese bureaucracy – thankfully not a day to day occurrence. 

Overcoming these hurdles and running the gauntlet of the finançes can be flipped on its head and seen as one of the reasons living in Portugal makes you feel fab. Spending hours in stuffy, only slightly air conditioned offices is a real headache but the feeling of elation when you understand what the guy behind the counter has said to you, or when you have organised everything you need for your SEF appointment or you have learned enough of the lingo so you can do more than just nod and smile at your neighbours are truly liberating experiences! When you put that little bit of work in you end up with a bond that you just don’t get back home.

If you are still worried about taking the plunge and starting your journey to move abroad then take heart, 14 years ago that was me. I didn’t want to leave the UK, my family was there, my friends, my life was all wrapped up in the United Kingdom. Neither my husband or I spoke Portuguese – which was evident when we stopped at the first service station. The lady behind the counter said Olá and I said “yes, two please” thinking that was the word for ice cream, what followed was quite an awkward exchange of us just saying Olá to each other for about five minutes before I grabbed a chocolate bar from the stand, paid and left! Can you see my confusion?

To be honest neither myself or my husband are that much better at speaking Portuguese now, but when you realise that giving it a go with a smile and being able to laugh at yourself while doing so things all of a sudden don’t seem quite as daunting. The defining quality of most expats here is the unspoken agreement we’ve made to respect, understand and engage with the local Portuguese culture and people.

I still miss my family and friends of course, but Skype is a real help, plus we all keep up to date with each other via WhatsApp, Facebook and Instagram so I don’t miss out on all the important things. Plus, they all get super cheap holidays to the Algarve every year and the time we spend together on those 10 days or two weeks is spent laughing in the sun, by the pool, on the beach or at the water park – you couldn’t get away with that for two weeks in sunny Britain now could you?

We appreciate the care you have bestowed upon your home, when you instruct us as your selling agent, we will maintain the same exceptional level of attention. We can also offer advice on the presentation of your property to showcase it in the best possible light.

From the moment you contact us, you will be dealing with an experienced professional who will act as your single point of contact throughout the selling process. Our aim is to ensure your selling experience is as stress free and enjoyable as possible.

Within the last few years things have changed in terms of how clients source property to buy. Today, 85% of all property searches start online. We have invested heavily in a state of the art – yet simple and user friendly – website to ensure maximum exposure of your property. We also know that 30% of traffic to our website is outside of the traditional 9-5 high street opening hours and so we are available outside of these hours and over the weekend to ensure that we capture every single ounce of interest in your property promptly and professionally. To ensure we find the right buyer for your property we also create a bespoke marketing package for each individual client.

We understand the importance of giving your property maximum exposure in the marketplace. Once we have uploaded your property onto our website it will also appear on the international, award winning property portals we have chosen to partner with, including RightMove, Zoopla and Green Acres, amongst others. 

Reaching out

We also are building a great social media community through our LinkedIn, FaceBook and Instagram pages where we promote properties daily and are able to interact with potential buyers in real time to capture interest in your property quickly and professionally.

We are a young, dedicated team who work continuously to keep up to date with the ever evolving world of online and social media marketing. We understand the importance of being seen across multiple platforms and we market properties on them through targeted campaigns.

This means that your property will always reach a targeted group of keen, interested potential buyers.

Using our database of prospective buyers, we match your property to interested parties and send them the details. We don’t want to waste your time by showing your property to every Tom, Dick and Harry who enquire with us, we take time to highlight your property’s best features and then match these to the best potential buyers to ensure only genuine, interested clients get to view your pride and joy.

We have newsletters going out throughout the year to keep buyers up to date with new properties, our website is updated daily and we also like to invite clients to our Open House events – if you would like your property to feature in one of these please let us know.

We pride ourselves on the personal service we offer, as soon as we know we have a new, fabulous property coming online we ensure the whole team know about it so that they can contact any matching clients directly, before it even gets uploaded for the world to see – it’s brilliant for us to be able to sell a property even before it hits our website.

Communication is key for us – sometimes we feel we are propping up phone companies single handedly with the amount of calling and talking we do every day! But we know how important it is for everyone – our team, the buyer and the vendor – to be kept up to date in a property search and sale. We always accompany clients to property viewings and will always give you feedback afterwards. Once we have found the buyer we will negotiate the best possible price for you and promise clear and regular communication throughout the sale.

Once an offer has been accepted on your property you will continue to receive regular updates on the progression of the sale – you can’t get rid of us that easily!

Selling costs

Capital Gains Tax

There is a Capital Gains tax in Portugal. For NON RESIDENTS (or where the property is not your primary residence) there is currently a capital gains tax of 28%, for companies (non-residents) it is 25%. If the money from the sale is re-invested into another property then only 50% of the net taxable income will be subject to capital gains.

To calculate the taxable gain, take the SELLING PRICE and MINUS the ACQUISITION COSTS as well as any costs incurred during the transfer of ownership, any property improvement costs that have incurred within five years of the sale as well as real estate agent fees.

There are a few exemptions:

• If you are a tax resident of Portugal (Domiciled in Portugal) and you are selling your primary residence here and buy another residence in Portugal. Importantly this rule applies for sales that are within three years after, or two years before.

• If the property in question was first occupied before January 1989 in your name.
• If you decide to reinvest the monies made from the sale of your Portugal primary residence into another primary residence in the EU, you are then able to roll over the costs.

Legal Fees

We recommend to engage the services of a Portuguese lawyer to represent you in the sale of your property. They will be responsible for updating property paperwork, checking contracts and confirming any responsibility for capital gains liability. For this the average charge is 1% of the sale price of the property.

Our commission
As the seller of the property you are the one to pay us our commission. The percentage of this is agreed when we sign the mediation contract – the industry standard here in Portugal is anything between 5% – 10% commission. In the mediation contract it will also state when this commission is due to be paid – 100% once the promissory contract has been signed, 50% at promissory and 50% on deed or 100% on deed. 

Documents needed
When you decide to put your property up for sale, it is very important to make sure that you have all the documentation in order. For a privately owned property you will need the following documentation: 

• Caderneta Predial

• Certidão de Teor (Registered in the conservatória) 

• Licença de utilização (Habitation License)

• Certificado energético (Energy certificate)

• Copy of owners identification

• Copy of owners Numero de Contribuinte (fiscal number)

• Ideally we would love you to provide us with the floor plans of the property as well, this is not a legal requirement, however it does assist when we are speaking to prospective buyers prior to their visit to give them as much information as we can about your property.

Some of these property documents do have EXPIRY DATES so make sure that these are all up to date. Please also make sure that any alterations, extensions and other changes to the property have been correctly registered. Make sure that your pool, garage, borehole and septic tank are all registered and have the respective documentation.

It is very important to have this in order at the start so as not to jeopardise a sale at a later stage. If there are items which are missing or not correct, we recommend for you consult your lawyer and/or architect to apply for/correct the documentation. 

We will also need these documents to be able to draw up the mediation agreement which enables us to market your property. This is required by Portuguese law – without a signed mediation contract and copy of all documents belonging to the property we will not be able to market your property. The mediation contract will have all our details, your details and the commission agreed on for the sale of your property. We have this in both Portuguese and English and you receive a signed copy for your records.

Let’s get it sold

We will use all of our experience, contacts and marketing expertise to find the right buyer and price for your property, however every property can always be made more attractive to buyers. Preparing your property for viewings is important. It will not only ensure that your property is sold faster but can potentially add thousands of euros to the final sale price. We ask that you consider the following tips for selling and together we can make the sale of your property a fast, smooth and enjoyable process.

First impressions count

Presentation of your property both inside and out can make all the difference when it comes to selling. A potential buyer could be put off even before they set foot inside your front door if they are given a bad first impression. You want them to come through the gates or walk up the path already feeling impressed and excited to see more.

Make sure the exterior of your property is up to scratch, move bins out of view, have a tidy up of the garden and clear away anything unsightly.

The inside of your house should be as clutter free as possible – remember we deal with many nationalities who are looking for clean/simple lines – check all light bulbs are working and fix any squeaky doors.

We will make sure to highlight all the less obvious elements that make your property attractive, its fantastic location, rental potential, sun exposure or friendly neighbourhood. 

Define each room

Buyers need to be able to picture themselves living in the house so it’s essential that each room is shown off to highlight its purpose.  If your dining room is full of work papers or exercise equipment for example, return it to its original purpose.  If it is possible, de-personalise the rooms if you can – for example take down posters in the children’s bedrooms so the buyer can see the potential for the house and where they would put their own items.

Access for viewings

It is important that we can let people view your property at a time that is convenient for them. A lot of potential buyers are only here for a few days and can be on tight time schedules. Ideally it is best for us to keep a set of keys for our accompanied viewings but we are also used to liaising with property managers or directly with vendors. If you need a certain amount of notice prior to viewings please let us know. If your property has rental clients please let us know the dates as early as possible so we can work around these to ensure the maximum number of viewings with minimum impact. 

Be patient

Don’t worry if positive viewings don’t lead to a sale – it doesn’t mean there is anything wrong with your property or the way it is presented. We take great care only to invite qualified clients for viewings however experience tells us that there are lot of people who get cold feet about buying abroad when they return home. Be open to feedback and be prepared to listen to ideas to make your property more appealing.

Be open-minded

You don’t have to accept the first offer that comes through the door, it is worth discussing whether we think more can be achieved. We can weigh up the pros and cons, are they cash buyers, what is their time frame for buying etc and whether a swift sale now may save you money in the long run. If your property is older buyers may choose to have a survey done which could impact on the price they are willing to pay. If you are aware of any issues with the property it is better to be upfront as there are certain laws protecting the buyers.

The Golden Visa program is an incentive which was introduced by the Portuguese government in October 2012 aiming to attract foreign investment. Since its inception it has proven to be the most popular fast track scheme in Europe for non-EU citizens to gain a European residency.

In a nutshell – purchase a property in Portugal for €500,000, keep the investment for five years, ensure that you stay in the country for seven days in year one, 14 days during years two and three as well as 14 days during years four and five, adhere to the regulations and you will be able to obtain a Portuguese residency.

It is one of the most attractive residency programs for worldwide investors. Without the need to reside in Portugal, investors are attracted to the ease and flexibility with which they can obtain a residency permit which then gives them access to all the benefits it provides. The process is straightforward, fast and has no direct tax implications or obligations for income generated outside of Portugal. Since the launch of the Golden Visa program in 2012, more than 4,200 Portuguese Golden Visas have been issued, representing more than a €2.5 billion investment in the country.

In 2019 the first group of golden visa holders who completed their five years of residence arrived. These investors obtained not only their permanent residence permits but also citizenship – after physically residing for just 35 days in the country. A great deal of uncertainty has always surrounded the question of whether participants in Portugal’s golden visa program would in the end, after holding the temporary golden visa for five years, qualify for permanent residence status and citizenship. Up until July 2018 the rules stipulated that to obtain permanent residence, an individual must have been legally resident in the country for five consecutive years. Until then only those who had held permanent residency for at least a year could apply for citizenship, which meant an investor would have to wait until year six to apply. This rule, however, changed in July 2018 as Portuguese lawmakers amended the country’s nationality law to permit anyone who had been legally resident for five years to apply for naturalisation.

Once the initial five years of holding a golden visa are complete, applicants will also have the option to free themselves of physical residence requirements altogether as there is also a new category of permanent residency recently created that allows for an applicant to obtain permanent residency without then having to abide by any minimum stay requirements in Portugal. This is given to the applicant for five years (renewable every five years) and does not impose any minimum stay requirements.

The benefits

Residence card for five years, renewed after the first and third year.

Permanent free entry and circulation in Portugal and the other 25 Schengen countries.

Freedom to live and/or work in Portugal while keeping another residence (if wanted) in another country.

Option to become a non habitual resident (NHR) of Portugal for tax purposes, thereby paying little or no tax for at least 10 years – for more information about the NHR check out our website page which covers everything about this scheme: 

NHR

Family reunification of all people who permanently cohabit with the investor, without the need to make further investment.

Only having to stay in Portugal for a minimum of seven days in the first year and 14 days in each of the subsequent two year periods.

Being able to apply for Portuguese nationality after five years of holding the Golden Visa.

Real estate requirements

Acquisition of a real estate asset with construction dating back more than 30 years, or located in an urban regeneration area, for refurbishing, for a total value equal to or above €350,000.

Acquisition of a real estate asset equal to or above €500,000 – free of charges and encumbrances. The investor can purchase multiple properties  as long as the minimum amount is invested.

The investment must be kept for at least five years and be kept free of charges, but only in respect of the minimum required amount. The investment may be made privately, whether singly or jointly, or through a company. In the case of a company, this must be a single-member private company, either based in Portugal or in another EU country, in which case it must have a branch in Portugal.

Documents needed

Documents to be obtained in your country of origin:

Valid passport and, if applicable, a valid Schengen visa, for each applicant.

Criminal record certificate (sometimes called Police clearance letter) for each applicant who is over 16 years old, issued by the country in which the applicant has most recently resided during at least 1 year, certified by the Portuguese consulate.

Proof of residence, such as a copy of the driving licence, of a recent utility bill or of a recent bank statement for the main applicant.

Proof of professional occupation of the main applicant, such as a letter issued by the employer.

Documentary evidence of the eligibility of family member applicants, e.g. a marriage certificate for the spouse, birth certificates for the children (plus marital status certificate and proof of enrollment as full-time students if over 18 years old) and birth certificates for the applicants having dependent parents (plus certificates of no income for the latter if under 65), also legalised by the Portuguese consulate.

Certified translations of foreign-language documents into Portuguese by a Portuguese consulate-accredited translator or by a Portuguese lawyer.

Documents to be obtained in Portugal (your lawyer will be able to assist with this):

Applicant’s permission for the authorities to access his/her Portuguese criminal record.

A Portuguese tax identification number.

Certificate of no debts from the Portuguese tax and national insurance offices.

Signed statement by the applicant that he/she will fulfill the investment requirements.

Evidence that the minimum investment has been made.

The procedure

First, visit us here in Portugal. From the portfolio of options we show you choose your investment, reserve the property,  sign Power of Attorney with your lawyer, obtain your fiscal number and open a bank account.

Back home – gather mandatory documentation for the Immigration office and send copies of these documents to your lawyer.

Your lawyer files documentation with the Immigration office. From January 2018, Golden Visa applications must be initially filed online, together with copies of all required documents, including those pertaining to the investment (it is not possible to deal with the initial application during a single short trip to Portugal, it is simply not feasible to view properties, choose and purchase one, and have the required purchase and registration paperwork ready for submission in time). The initial Government application fee is also payable online at the time of the online application.

Schedule appointment for biometrics.

Second visit to Portugal – ALL applicants must be present.

Immigration office handle original documentation and biometrics.

Golden Visa approval.

Process Analysis (biometrics)	Investor: €527.60 Family member: €82.30
Issue of Golden Visa card	€5,274.40 per person
Renewal, years 1 and 3	€2,637.20 per person

Costs at the time of purchase

Notary	€1,200
Public registry	€350
Property transfer tax (IMT)	5% – 6.5% depending on purchase
Stamp duty	0.8%
Municipal tax (IMI)	0.3% – 0.45% *Paid yearly
Income tax on rental	28%

Red and yellow and pink and green, orange and purple and blue

If you want to get the best price possible for your property then should paint your property before putting it on the market? Ideally yes, giving your home a fresh lick of paint will do wonders for those all important first impressions that buyers have when they see your property. We know your villa, townhouse or apartment is your pride and joy – you have looked after it over the years, spent many happy days within its walls and created a home that you are proud of – so giving it one last lick of paint to show it off at its finest is one of the best things to do to ensure you achieve what you want from the sale.

It may seem like the most appropriate colour to paint your property is white when it comes to selling. It’s a blank slate, right? Well, while white is a good place to start, you really want to warm up the interior of the property and help potential buyers feel like they can see themselves living there.

White kitchens always seem shiny and new in pictures, but in reality (and I know, we have one) they’re a headache (and arm-ache!) to keep clean. Reports from across the pond in the states say that using grey-blues on the walls of kitchens made homes sell faster. They go on to say that you shouldn’t just use it on the walls – homes with bold coloured cabinets – especially navy and red – sold faster and for more money than those without – what I wouldn’t give for a bold colour cabinet after the chef of the house has finished creating his masterpiece in the kitchen to hide the variety of splashes, splatters and sloshes! 

Don’t think that blue is just for the kitchen, either. It seems that properties with light blue or silvery grey bathrooms seem to attract more positive comments – could the nautical-themed bathroom be making a comeback?

For your living room, get out your light beiges and grey-browns. It will help the room feel more cozy and welcoming. If you can, accent the beige with a white fireplace and skirting that gives a really clean, comfortable feel that buyers love. 

If you have a more formal dining room then silver or grey seem to be the colour of choice as this gives the room a more stately feel and instantly updates the space. As with the living room, white skirtings and furnishings will make for a clean contrast to the colour of the room.

Make sure you don’t neglect the exterior of your home, either! We all know that white painted villas are the traditional way to go here in Portugal, but recently other colours have been making their mark. Options such as “greige” – a combination of grey and beige – are becoming trendy and make your property stand out from the crowd. 

Although it may seem like a lot of effort to paint your house on top of everything else you need to do to get your home ready to sell, it’s worth it.

Make sure you choose the right paint, equipment and take note of the temperature you are painting in. If it’s too cold outside, for example, the paint will take longer to dry and could end up dripping. This will result in more work for you. If you have the budget for it, you may want to consider hiring a company to come to paint for you. This might suck up some of your added income, though, so be sure to weigh the pros and cons.

Going back to the states, there are also some colours that, they say, you need to avoid.

Kitchens: Avoid yellow! Kitchens painted yellow sold for less.

Bathrooms: It’s hard to believe, but bathrooms painted white sold for less.

Bedrooms: Many buyers need a blank canvas to imagine themselves living in a house. Bedrooms are no exception! Bedrooms painted pink sold for less.

Dining Rooms: It’s time to paint over that red dining room. Red dining rooms sold for less.

Living Rooms: Living rooms are the one place you want to avoid blues. Homes with blue living rooms sold for less.

So there you have it, if you want to get a better price then get down to the shops and pick up a pot, or two.

1 – The research stage

When you decide to start to look for a property abroad, 9 times out of 10 you are sitting at home thousands of miles away from the country you want to purchase in. Before you get out the laptop and start searching the myriad of internet sites offering you dream home after dream home, there are a few basic bits you need to sort out first.

Work out your BUDGET. Yes, it seems obvious, but you would be surprised at how many clients we speak to who don’t really have a clue of what their maximum budget is. As well as working out the final figure also think about whether you are going to be a CASH PURCHASER or if will you need FINANCE. From our experience if you are looking for a MORTGAGE to help fund your purchase the best time to START looking into this is NOW. Banks in Portugal are leading to non-residents and the rates are fairly attractive, however the process does take a little time and once you have found the property of your dreams you don’t want to loose it while you are waiting for the paperwork on your finance to come through.

Know what the BUYING COSTS are. In Portugal the buying costs are relative to the price that you purchase the property for. For example if you buy a property at €275,000 your buying costs will be an extra 6.9% on top of the purchase price, if your purchase is over 2 million then the costs will be 8.1% on top. This % figure covers everything that you will pay:

Lawyer fees

Transfer tax – IMT

Land registration

Stamp duty

Notary fees

2 – The home hunting stage

This always starts out as the FUN BIT, but can turn into a nightmare if you are not careful. There are hundreds, probably thousands of real estate agencies in Portugal, all with fantastic properties for sale.

 

The market in Portugal is generally a “non-exclusive” one. This means that you can potentially see the SAME PROPERTY advertised with MANY different AGENTS. Remember, you are looking for a property abroad, things aren’t the same as if you were buying at home. Some agencies will keep sold properties on their books for months, even years after they have actually sold, some agencies add higher commissions on top of the price which causes varying range of prices and confusion for clients, some have up to date photos while others keep pictures which are years old – it won’t be long before you are getting confused with which property you have looked at and which ones you haven’t.

The easiest way to avoid this? LET US do the leg WORK FOR YOU – but WHY choose us? 

Estate agents typically receive a bad press and, in some cases, justifiably so. At Portugal Property Hub we aim, and are proud, to be different. We are committed to providing HONEST, STRAIGHT FORWARD advice and to deliver an exceptional standard of service that we can be proud of each and every time. 

If you don’t have the extra hours in the day to scroll through property after property, portal after portal, website after website you need to engage a LOCAL PROPERTY EXPERT to source properties on your behalf. We are local, we love property and we are experts in our field. Let us do the hard work for you. Let us know what you are looking for we will do the leg work of finding the right options so you can focus on researching all the other fantastic things about buying a property in Portugal – which beach you’ll try out first, which golf course looks the best for your game or where the tastiest Dourada is served. 

We have spent, collectively, over 50 years learning about property in Portugal so you don’t have to. Not only will WE FIND the BEST PROPERTIES for your requirements but we are here to ANSWER all of your QUESTIONS before you even book a plane ticket. We can SAVE YOU TIME, STRESS and MONEY by ensuring you only see the properties on our website and portal adverts which are for sale right now.

3 – The viewing stage

Unlike viewing properties at home, when you are buying abroad you get to enjoy spending more time in the country you will ultimately end up owning in – what more could you wish for! However, you need to make sure that the time you spend with your real estate agent is TIME WELL SPENT. 

4 – The negotiation stage

When we’ve found you the right property, it’s time to put in an OFFER. Even for seasoned property buyers, this part can be NERVE–WRACKING.

If the seller bites your hand off when you offer the asking price, you’ll wonder if you should have pitched lower. But go in too low and you risk losing the home to another interested party, or even insulting the current owner – in short, negotiating is a delicate affair.

Listen to GUIDANCE from your estate agent – they know the vendors and have seen what other properties in the area have sold for, let them guide you ON WHERE TO START negotiations. After all that is a huge part of our job.

5 – The buying process

If your offer gets the GREEN LIGHT then the wheels will be set in motion. We will ask you to send a RESERVATION FEE of €6,000 to your lawyer. They will hold this money for you while they start the due diligence on the property. The reservation fees shows your intent to the vendor to purchase the property and allows us to take the property off the market so that no other parties can view and/or make offers on it. The reservation fee is 100% refundable and is not a legally binding contract – more of a gentleman’s agreement to set things moving.

Once your lawyer has completed DUE DILIGENCE on the property they will give you a report and if you are happy to move onto the next stage you will then sign the PROMISSORY CONTRACT. Here you will pay, normally, 30% less reservation fee. This is the first time you will sign a legally binding contract – if you pull out at this stage you will loose all the money you have put into the property, if the vendor pulls out at this stage they pay you your money back, plus the same amount out of their own pocket. DEEDS are normally scheduled a month or so later where the rest of the money is paid and you become the new owner of the property.

6 – The make-it-a-home stage

It’s yours 🙂 All that STRESS now EVAPORATES but remember that you still need to get all your belongings SHIPPED OVER and MOVED IN – we know the best in the business for this so make sure you ask us for our recommendations.

Once all your furniture and worldly belongings have been shipped over, unpacked and found their new home remember to pose for that new home PHOTO so you can keep the moment saved for prosperity.

When you are finally able to sit down and survey your property with a drink in hand take five minutes out from starting the next list of things you want to do to the property and soak it all in under the beautiful Algarve sun.

Make sure you check out our website – www.portugalpropertyhub.com  It is jam packed with all the information you need to buy a property in Portugal as well as fantastic properties we have waiting for their new owners to move in.

When you’re trying to buy a property abroad, there’s a lot to think about. Raising the cash, getting a mortgage, finding an agent you trust and of course finding a property that you like in your price bracket and location. This may take a few trips back and forth – or you may find THE one on your first visit to the country.

Once you’ve found and viewed the property and made an offer, then there is the wait to see if it will be accepted.

Potential stress-fest?

It doesn’t have to be. If you and your agent have a clear strategy, you give yourself every chance of success (and a good night’s sleep).

When it comes to making an offer, it’s worth remembering that if you like a property that’s for sale, it’s almost certain that at least another client or clients will also be keen. 

That means you’re in a competition. Having an agent who has a plan can help put you in pole position to win.

Here are the core elements of our strategy for success when we help clients make their offers.

Get a ‘mortgage in principle’

We can not stress this enough! If you are thinking about using finance to help purchase your property get things in place with this first rather than waiting until you have found the property of your dreams. A mortgage in principle confirms to the seller, and us, that you deserve to be taken seriously as a potential buyer.

A mortgage in principle is a statement from the bank – we can recommend the best banks to use for proactive and professional service – that says it is willing to lend you a certain amount of money, so you can show that you can afford the property and that the transaction has every chance of proceeding smoothly.

A mortgage in principle is based on your financial situation and usually lasts for between two and three months. After that, the lender will probably want to check nothing major has changed with your financial situation.

Put in a realistic offer

There’s a fine art to making an offer on a property. Too high and you risk paying more than you need. Too low and you might be beaten to the prize by another buyer.

So how do you work out what your offer should be?

Talk to us. We are professionals who understand the local market better than anyone, we know what a realistic price would be. Let us guide you through the minefield of getting the best price for your dream home.

Give yourself some room to negotiate

OK, so you’ve done your research, chatted to us and made what you believe is a reasonable offer for the property.

The next thing that you will hear is whether your offer has been accepted or not.

If it hasn’t, you can decide whether or not to increase it – provided, of course, you’ve got the funds available to pay a higher asking price. If you don’t want to or can’t increase your offer, you negotiate. There are a few lines we can go down – is furniture included, can you close quickly, if you are buying a second or holiday home in the sun the chances are that you are not in a chain – you aren’t relying on a property to sell – and this can be very attractive to a vendor if they are looking for a quick sale. In fact, escaping the constrictions of a property chain might be attractive enough for the vendor to tell us to accept a lower offer than one from someone who is in a chain. It’s certainly worth pushing this point if you are at, or close to, the upper limit of your budget.

Get the property taken off the market

Once your offer is accepted we will ask you to send a reservation fee over to your lawyer. This allows us to take the property off the market. There’s nothing legally binding about making or accepting an offer, so if another buyer arrives on the scene and improves on your offer, the seller is able to accept it.

That’s known as gazumping. However, once the reservation fee has been sent to the lawyers no further viewings or offers can be made, so make sure you have your reservation fee (€6,000) ready to go as soon as we let you know your offer has been accepted by the vendor.

Make sure you speak to us about your property search – we have over 50 years of experience in buying and selling property in the Algarve – we can help you through the whole process – www.portugalpropertyhub.com

First impressions count.

When you’re putting your home on the market it is vital that it has kerb appeal – not just for when we bring clients round to view, but in the photographs that we take to advertise it in the first place.

Why does it matter?

A photograph of the outside of your property, with a view to the pool, is normally the one that we will pick as the lead photo on our website, social media channels and the international portals that we advertise on. It will usually be the first picture of the ones that we put online and the one that shows up in search results – its main job is to get people to click on your property to find out more information.

If the main image isn’t enticing, then you’re likely to have a low ‘click-through rate’, meaning that not many people are interested enough in the first image to click through and find out more and look at the rest o the pictures of your property.

Kerb appeal is also important for the viewings that we arrange with you. We try as much as possible to give you at least 24 hours notice of any clients wishing to view your property so that rooms can be tidied and floors mopped, but remember not all clients give us that buffer time, sometimes we may only know an hour before that they are here and wish to view. The appearance of your property in real life must match up to the good-looking online images that we have, otherwise buyers will be disappointed.

What elements make up good kerb appeal?

The design of your property and front garden (if it has one) forms a large part of your kerb appeal and in many cases cannot be changed without great expense.

However, by ensuring that paintwork is fresh, windows and doors are clean and all hedges, planting and lawn areas are neat and tidy, you can maximise the appeal.

For photography, we love to come and photograph your property on a sunny day (and with 300 or so days of sunshine in the Algarve that isn’t so hard!) as getting sunlight on the front face of the property on a clear blue day can make a huge difference.

Four top tips for maximising kerb appeal:

1. Pay special attention to your front door

It’s the focal point that buyers will be subconsciously looking at, so it needs to make a positive impression.

Giving doors a fresh coat of paint will give your property an instant face lift and don’t forget to polish metal letterboxes, house numbers and door-knockers. Or consider replacing them if they’re past their best.

2. Give driveways, patios and pool surrounds a new lease of life

Most paved, concrete or calçada driveways will look far better once they’ve been thoroughly cleaned with a pressure washer. The same applies to rendered surfaces, patios or decking.

3. Spruce up your boundaries

Where your property starts and ends will be a key question in a buyer’s mind, so make it obvious and attractive.

Give wooden fences and gates a new coat of varnish, re-paint metalwork and make sure all gates function properly. Trim hedges neatly and prune any planting next to doors and pathways.

4. Add some greenery 

Both exterior property pictures and home interiors often look more inviting with a pop of green.

Place colourful potted flowers outside your front door or add a hanging basket.

If you have a lawn, make sure the grass is green and mowed regularly. Sweep away fallen leaves and keep trees, shrubs and other plants neat and tidy. Weeds are definitely on the banned list.

Buying a property is exciting and terrifying all at the same time. After all, this is the biggest financial move most people will ever make.

There can be a lot of room for error, and even tiny mistakes can translate to tens of thousands of euros down the drain. The lesson here – even the most seasoned home buyer should get some guidance on what to do, but also what not to do – especially when you are buying a property which is located outside of your home country.

Today we highlight the most common mistakes buyers make so you can avoid the same fate.

Don’t look for a property without using a real estate agent

We all know that property searches start online as it is a great way to see what is on the market, but when it comes time to get serious about buying, you should find a professional – such as Portugal Property Hub – to help you out.

We will help you to turn your dreams into reality. We will guide you through every step of the process—from finding the right property, making a winning offer, introducing you to the best lawyers and currency exchange companies so that your purchase is stress free and you can sail through to the day of the deeds. 

Don’t understate your budget

It might sound strange, but a number of clients we speak to make the mistake of hiding their true budget from us. Some people are afraid that we will only show them properties at the top end of their budget so they understate their price range. We won’t – we listen to all of your property requirements, including your budget, and show you the best options we have which meet your needs.

If you’re not upfront about your price range you might miss out on a great house.
Also following on from this point let us know at the outset if you are looking to finance your purchase with a mortgage. In Portugal mortgages are available but the process can take a few weeks. If we know at the start that you are looking for finance we can point you in the best direction to banks who are offering the best deals – and we can take this into account when negotiating with the vendors. 

Don’t hold out for the ‘perfect’ house

We always talk about buying your dream home in the sun, maybe we shouldn’t, as there may not always be the perfect property for every buyer. This is the reason we ask you for your property requirements and from that list we then ask what are your must haves and which bits can you compromise on. With this knowledge we can go and find you options which best suit your needs – obviously we will try to find you options that match all of your criteria, but it’s good to know what can be compromised on just in case we can’t.  

Don’t make really low offers

We know that you are looking to get a bargain, but by making really low offers on properties you could lose out. In a recent survey from Inman 15% of real estate agents in America said that the third largest mistake people make when buying a home is offering too little for a property (the second was not talking to a bank first about a mortgage and in first place was waiting too long to make an offer).

Imagine you were trying to sell your property, how would you react to a low offer?

Trust us to help you assess the value of a property and to negotiate a winning offer.

Don’t forget to budget for purchase costs

There are a few costs for the vendor to pay when selling, but as the buyer you have the (unfortunate) pleasure of shouldering the lion’s share of the purchase costs. We will explain the buying costs to you at the start of the process and let you know how much you should expect to pay – generally budget for 10% of the purchase price to cover all costs, but in most cases the purchase costs will be significantly less than this – and you can then let us know if your budget is inclusive of buying costs or excludes them.

Don’t transfer your money through the bank

Baks are great for a lot of things, but transferring money into euros is not one of them. We would always recommend speaking to a currency exchange company when it comes to moving money from one currency into euros. They can save you up to 4% which could go towards the purchase costs or even fitting out your new property with brand new furniture. They currency company can also give you a great idea of what your budget translates to in euros and can go through all the ways of securing the best rate to make your money go as far as it can.

So with all of that in mind, why not check out all the properties we have – www.portugalpropertyhub.com – and get in touch so that we can help guide you through the next stages of your property search.