Property maintenance costs in Portugal
Property maintenance in Portugal is cheaper than in countries like the UK and USA. For example, it costs about €2,000 per year to maintain an apartments in Lisbon and about €4,000 for a three-bedroom villa in Faro.
Annual property tax (Imposto Municipal sobre Imóveis) ranges from 0.4% to 0.8 % depending on the tax registration value of the urban or rural property.
Capital gains tax upon sale of the property
Inheritance and gift tax is 1%. Spouses, children, parents and grandchildren are exempt from this tax.
Electricity costs €40 per month on average and water charges €10 per month. In Lisbon buildings are connected to a central gas system. In other regions, owners will have to buy gas cylinders which cost about €50 each and last about two months for a family of four. Average utility costs are €88 per month.
Utility charges for 85 sq m apartment,
Real estate insurance is mandatory in Portugal. Standard insurance, covering risks such as fire, acts of God (i.e., natural catastrophes) and vandalism, costs
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