Property maintenance costs in Portugal
Property maintenance in Portugal is cheaper than in countries like the UK and the USA. For example, it costs about €3,000 per year to maintain a one-bedroom apartment in Lisbon and about €5,000 for a three-bedroom villa in Faro.
Taxes
Real estate owners have to pay annual property tax (Imposto Municipal sobre os Imóveis, IMI)) that ranges from 0.3% to 0.8% depending on the taxable value of the property.
Capital gains tax upon the sale of the property
Inheritance tax in Portugal was abolished, although a stamp duty (Imposto do Selo) of 10% is applied instead.
Utility bills
For a two-bedroom flat, electricity costs €40 per month on average and water charges €17 per month. In Lisbon, Porto and other large cities, buildings are connected to a central gas system. In some 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 €102 per month.
Utility charges for an 85 m² apartment, €/month
Lisbon | 123 |
Porto | 113 |
Vila Nova de Gaia | 142 |
Braga | 94 |
Funchal | 91 |
Almada | 104 |
Coimbra | 92 |
Setúbal | 132 |
Aveiro | 88 |
Faro | 92 |
Guimarães | 106 |
Amora | 45 |
Viseu | 94 |
Ponta Delgada | 73 |
Leiria | 87 |
Portugal on average | 102 |
Insurance
Real estate insurance is not obligatory in Portugal. The exception is homeowners who obtain a mortgage as they are required to get insurance. Standard insurance covering risks such as fire, flood and other natural catastrophes costs €180–380 per year.
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- Property Prices
- Buying and Registering
- Mortgage
- Residence
- Citizenship (getting passport)
- Property Maintenance
- Taxes
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