Algarve Hot Properties
Wednesday, January 24, 2007
I’m about to buy a property. How much will I pay in IMT taxes?
This must be one of the top doubts in most people minds upon buying a house. Allow me to give you a little help on that. Here’s the IMT table for 2007, for continental Portugal.
I know it looks a bit confusing at first sight (especially in Portuguese…didn’t have it in English, I apologise) but it’s really simple. Let me explain:
If you’re buying a home to live full time, you want to look at the first, top table. Other than that, refer to the second table.
Now, an example to do the math:
I’m buying a holiday apartment that cost me, let’s say, 200.000€.
I refer to the second table and to the fourth line, that covers properties from 159.800,00€ to 266.400,00€.
I use the corresponding percentage, in this case 7%, and I multiply the price of the property with it. So:
200.000,00€ X 7% = 14.000,00€
I grab this value, and subtract the number on the right of the table, in this case 7.567,01€:
14.000,00€ - 7.567,01€: = 6432,99€ …And there you go; this is the number your check to finances must carry.
Rural land will always pay straight away 5% IMT.
Any other type of property (ex; shop, warehouse, etc) will pay 6,5% of the value.
If you buying thru an ‘Off-shore', or if your residence is in a country with more favourable fiscal rules, IMT will always be 8%.
No numbers to subtract in this last three cases.
Pretty simple!
Read more! ¶ 10:49 PM 0 comments
This must be one of the top doubts in most people minds upon buying a house. Allow me to give you a little help on that. Here’s the IMT table for 2007, for continental Portugal.
I know it looks a bit confusing at first sight (especially in Portuguese…didn’t have it in English, I apologise) but it’s really simple. Let me explain:
If you’re buying a home to live full time, you want to look at the first, top table. Other than that, refer to the second table.
Now, an example to do the math:
I’m buying a holiday apartment that cost me, let’s say, 200.000€.
I refer to the second table and to the fourth line, that covers properties from 159.800,00€ to 266.400,00€.
I use the corresponding percentage, in this case 7%, and I multiply the price of the property with it. So:
200.000,00€ X 7% = 14.000,00€
I grab this value, and subtract the number on the right of the table, in this case 7.567,01€:
14.000,00€ - 7.567,01€: = 6432,99€ …And there you go; this is the number your check to finances must carry.
Rural land will always pay straight away 5% IMT.
Any other type of property (ex; shop, warehouse, etc) will pay 6,5% of the value.
If you buying thru an ‘Off-shore', or if your residence is in a country with more favourable fiscal rules, IMT will always be 8%.
No numbers to subtract in this last three cases.
Pretty simple!
Read more! ¶ 10:49 PM 0 comments
Tuesday, January 16, 2007
Property: Under-construction Condo in Vilamoura.
2 detached Villas, 10 townhouses, 24 2-bedroom apartments and 8 1-bedroom apartments, facing one of the Golf’s in Vilamoura. Close to 10.000 m2 of construction. Why is this a good business?
Well…you go ahead and try to find a plot of land to built such a luxury, private condominium on the Golf course, in Vilamoura.
Let me save you some time; at the moment, this might be the only one available.
The property is delivered as it is, in final stage of construction.
The expected return on investment in this business, after all finishing works, will be somewhere around 30%.
Want to know more?
Read more! ¶ 10:44 AM 0 comments
2 detached Villas, 10 townhouses, 24 2-bedroom apartments and 8 1-bedroom apartments, facing one of the Golf’s in Vilamoura. Close to 10.000 m2 of construction. Why is this a good business?
Well…you go ahead and try to find a plot of land to built such a luxury, private condominium on the Golf course, in Vilamoura.
Let me save you some time; at the moment, this might be the only one available.
The property is delivered as it is, in final stage of construction.
The expected return on investment in this business, after all finishing works, will be somewhere around 30%.
Want to know more?
Read more! ¶ 10:44 AM 0 comments
