How can you benefit from selling with Engel & Völkers?

Selling a house or apartment privately takes on average one to six months. The more precisely the market price of your property is determined at the beginning of the marketing phase, the faster the whole selling process will be.

Good to know: If you want to sell your property quickly, you should not set the selling price too high. The more the selling price is raised above the property evaluation, the longer it will take to sell the property.

Selling with a real estate agent significantly reduces your efforts, and in particular your time investment. However, you will need to pay an estate agent fee which is evenly split between you and the buyer.

Engel & Völkers real estate agents:

• know the market and evaluate the exact value of your property

• take the full potential of your property into account, including characteristics and details

• value the individuality and history of each property with an eye for any “hidden values”

• put together a professional exposé with meaningful property descriptions, high quality photos, 3D tours, and clear floor plans

• suggest a target-oriented marketing strategy and utilise carefully selected sales channels

• access an extensive data base with earmarked prospective buyers

• take on all correspondence with prospective buyers and act in your best interests

• confidently take on a selling position and execute price negotiations

• carry out viewings and swiftly find the right buyer

• achieve the highest possible sales price on the market

• check the notarised agreement and prepare the appointment with the notary

When selling your property, you will need the following documents:

• Identification document of the owner(s)

• Permanent Land Registry Certificate

• Urban Property Register

• Licence to Use or Exemption from Licence to Use

• Property plan

• Energy Certification

• Technical Housing Sheet (FTH)

Yes you do, as a resident of Portugal you will have to pay taxes if you sell for a higher price than you bought it, you will have to pay income tax on the capital gain (IRPF)

The income tax you will pay will depend on the resulting amount of the capital gain itself, and after deducting the associated costs in 2023:

• 19% income tax up to 6,000 euros

• 21% income tax between 6,000 and 50,000 euros

• 23% income tax between 50,000 and 200,000 euros

• 26% income tax on income over 200,000 euros

If you are a non-resident in Portugal, once the sale is formalized, the buyer or his representative withholds 3% of the final value of the transaction. From the date of the sale, the buyer has one month to withhold and pay this percentage. To do so, he will use Form 211. After paying the amount withheld, the buyer delivers a copy of Form 211 to the nonresident seller, so that they can deduct the amount withheld when declaring the gain obtained from the transfer. The seller calculates the capital gain and pays between 19% and 24%, depending on the country of residence.

Also, non-residents and residents in Portugal shall pay Capital gains tax to the municipality where a property is located.

Absolutely - you can sell your house or apartment when you have an existing rental agreement with a tenant to live there, however, please keep in mind that buying a property does not end an existing tenancy. If you want to buy as an investment, a tenancy is not an issue for the time being. For buyers who seek to move into the property, a tenancy is a disadvantage, and sellers will have to expect a lower sales price. You should also check if the current tenant might have the right of first refusal.

If you are the heir, you are free to decide whether or not to sell. However, you will need an adjudication and acceptance of inheritance and register into the land registry. If there are additional heirs, they have to do the before said, and are also regarded as co-owners and you will need their agreement to sell.

Yes you can. In this case, you will have to pay off the mortgage with the sales proceeds. However, please keep in mind that prepayment penalties will be charged by most banks.

You can avoid this if you buy a new property around the time of the sale and then use this new property as a new asset for the new mortgage ("property exchange"), or if the buyer of your property takes on the mortgage as well ("debitor exchange").