Moving to Portugal is an exciting adventure, but it comes with some hidden costs that can catch expats by surprise. From property maintenance to social security contributions, these expenses can add up quickly if you're not prepared. Today, we're uncovering the top 9 hidden costs of living in Portugal to help you plan better and avoid any unpleasant financial surprises. Ready to get the inside scoop? I’m Lisbob, your trusty expat assistant, here to guide you through it all.
If you have financial interests in Portugal but live outside the European Union (EU) or European Economic Area (EEA), you may be required to appoint a fiscal representative. This guide will explain why a fiscal representative is essential, who needs one, and how it can help you navigate the complexities of Portuguese tax laws. From ensuring compliance with tax regulations to assisting with the application process for a NIF (tax identification number), a fiscal representative can be a crucial partner for non-residents doing business or owning property in Portugal. Read on to find out if you need one and how it can benefit you.
Lisbon is a cosmopolitan and dynamic city, with many different neighbourhoods, each with its own atmosphere and lifestyle. If you're looking for a place to settle down, it's important to compare Lisbon's different neighbourhoods before deciding where to put down your boxes. I'm Lisbob, the expat assistant, and I've come up with my list of the best areas in Lisbon to move to, in no particular order.
Moving to Portugal is an exciting adventure, but it comes with some hidden costs that can catch expats by surprise. From property maintenance to social security contributions, these expenses can add up quickly if you're not prepared. Today, we're uncovering the top 9 hidden costs of living in Portugal to help you plan better and avoid any unpleasant financial surprises. Ready to get the inside scoop? I’m Lisbob, your trusty expat assistant, here to guide you through it all.
Moving to Portugal is an exciting journey, but there are a few secrets locals don’t usually share. These hidden gems and insights can make a huge difference in your expat experience. Today, we’re uncovering the top 9 secrets locals don’t tell you about Portugal. Ready to get the inside scoop? I’m Lisbob, your trusty expat assistant, and I’m here to guide you through it all.
Moving into your new Portuguese home is even better when you have electricity and gas. There are several energy suppliers in Portugal, and it is now possible to sign up directly online. However, it's not easy to find your way around, and there are a number of pitfalls to avoid when signing up. I'm Lisbob, the expat assistant, and I'm going to show you how to sign up for an energy supplier in Portugal online.
When moving to a new country, it is unfortunately not uncommon to be a little too naive and trust everyone. It is said that after moving abroad, the word "pigeon" will be visible in the middle of your forehead. Whether it's in real estate, restaurants or other areas, Portugal, like other countries, has some well-honed scams that can cost you dearly. To help you avoid the pitfalls and not get caught out I am Lisbob, the expat assistant, and I reveal my top 8 scams in Portugal.
In Portugal, there are unfortunately many situations in which one may wish to report abusive behaviour. A landlord who has not issued an invoice or a contract, a trader who practices tax evasion... it is possible to denounce, anonymously if necessary, a person or a company that violates Portuguese law. I'm Lisbob, the expat assistant, and I tell you all about how to denounce a landlord and report or a trader to the Finanças?
Real estate prices in Portugal continue to rise and Lisbon continues to grow, as does Porto. In the third quarter of last year, the average value of homes sold in Portugal increased by 7% compared to the same period of the previous year, reaching an average of 1,054 euros per square meter. Since the crisis that hit Portugal hard, real estate prices continue to break records and some even speak of speculative bubbles about to explode. According to figures published by the INE (Instituto Nacional de Estatística), some districts have seen an increase of almost 40%, but some areas have seen their prices drop, especially in Lisbon! What is the price of real estate in Portugal? What are the cheapest areas to buy a house? Lisbob, the expatriate assistant in Portugal, gives you this map of property prices in Lisbon and Porto.
As an expat in Portugal and once the property is found, sometimes you have to deal with the issue of energy and more specifically electricity. Whether choosing the cheapest or the most efficient supplier, to the process of opening an electricity contract, it is important to know the rules of the energy market in Portugal. EDP, Iberdrola or Endesa are the best known, but there are also alternative electricity suppliers. What is the price of electricity in Portugal? Who are the different Portuguese energy suppliers? How to open an electricity contract in Portugal? Lisbob, the expatriate assistant, tells you everything about the suppliers, the prices and the procedures for opening an electricity contract in Portugal.
When you decide to move abroad and buy a house or other property in Portugal, it is essential to weigh all the costs associated with it. In addition to notary fees and administrative costs, you should pay particular attention to taxes on the purchase of goods. Indeed, Portugal is famous for its “hidden” taxes that everyone should take seriously before to decide to buy a house. While putting aside the financial weight of a home loan, it is true that all the other costs associated with buying a home in Portugal mean that the total amount of the purchase of the property becomes much higher. The first step will be to find financing tailored to your needs and your payment capabilities. What are the taxes when buying a house in Portugal ? What taxes to pay when you buy a property ? Lisbob, the expatriate assistant in Portugal, tells you everything about real estate taxes in Portugal.
In Portugal, capital gains from real estate assets correspond to the profit obtained from the sale of a house. They consist of the difference between the price at which someone bought a property and the price to which this same property has been sold. If there is a loss instead of profit, then there is no tax. In Portugal, the sale of real estate can sometimes have unpleasant surprises. Real estate gains are heavily taxed, and their calculation is important to take into account before any final decision. Selling your house in Portugal is not easy. Whether buying or selling property in Portugal, taxes are as usual. How to calculate the capital gain on real estate assets in Portugal ? How to calculate the taxes on the capital gain in Portugal ? How to benefit from a tax exemption for the resale of your property in Portugal ? Lisbob, the expatriate assistant in Portugal, tells you all about the capital gains of real estate assets and taxes related to the sale of house in Portugal.
This is one of the consequences of the deflation that is taking hold in Portugal: residential and commercial rents will not increase in 2021. Indeed, after 5 consecutive years of increase, the inflation rate was zero (-0, 03%) in August, the National Institute of Statistics (INE) confirmed this Thursday, September 10. This zero or negative rate forces the executive to declare a freeze on rental values in 2021. As a result, landlords will not be able to increase their tenant's rent for next year. Lisbob, the # 1 expatriate assistant, tells you all about the rent freeze in Portugal in 2021.
Lisbon property prices have been a recurring problem for those who wish to find accommodation there for several years. On the other hand, many owners are asking their tenant for concrete guarantees in order to cover themselves in the event of default. The Lisbon city council wishes to reconcile the two with its “Renda Segura” program: a rental housing program accessible for tenants, and a payment guarantee for owners. Some may even ask to receive 3 years' rent in advance. Lisbob, the expatriate assistant in Portugal, tells you all about this “Renda Segura” program in Lisbon.
Real estate prices continued to rise in Portugal late last year to record highs, but the coronavirus epidemic may well be a game-changer. At least that is what most real estate agencies think, according to a study by the Imovirtual site which interviewed hundreds of professionals in the sector. The expected drop is 25%, but some believe that prices will simply stabilize. Lisbob, the expatriate assistant in Portugal, tells you all about this investigation which does not bode well for Portuguese real estate.
Real estate prices in Portugal continued to rise in Portugal late last year. This is shown by data compiled by the Portuguese National Institute of Statistics (INE), which analyzed real estate transactions. Across the country, prices rose 8.5% in the last quarter of 2019, but the differences between cities are significant. The INE provides an interactive map that allows you to find out the price of real estate in each district and these in several cities in Portugal. The coronavirus is likely to stagnate or see prices fall, and this study corresponds to the pre-pandemic. What is the price of real estate in Portugal? What are the cheapest areas to buy a house? Lisbob, the expatriate assistant in Portugal, gives you this interactive map of property prices in major Portuguese cities.
In order to mitigate the economic effects of the crisis linked to the coronavirus pandemic, Portugal has put in place mechanisms which in particular allow individuals to benefit from a moratorium on mortgage loans. Individuals must, electronically or physically, send the lending institution a declaration of adherence to the application of the moratorium signed by the borrower and accompanied by documentation proving the regularity of the tax situation of the person making the request. The decree-law of March 27, published within the framework of the COVID-19 disease pandemic, establishes exceptional measures for the protection of households for the credit for clean and permanent housing, measures which will be in effect until 30 September 2020. Lisbob, the expatriate assistant in Portugal, tells you everything to benefit from the moratorium on mortgage loans.
The Portuguese real estate sector is sounding the alarm ! The limitation of the allocation of golden visas only to those who buy real estate in the interior regions has already led to the cancellation of many promises to buy and sell or even acts of purchase of houses in large Portuguese cities. The Portuguese Socialist Party’s proposal and the Parliament’s decision resulted in the cancellation of the contracts that were to be signed this week. The Portuguese real estate sector indicates that the end of the golden visas in Lisbon and Porto is very bad news because Chinese and Brazilians have already canceled their project. Lisbob, the expatriate assistant in Portugal, tells you all about this bad news for real estate in Lisbon and Porto.
Socialist Party decided to end the Golden Visas in Lisbon and Porto, limiting the benefit of this status to the interior regions and the autonomous regions. This is a blow to this fiscal instrument which has brought a lot of foreign investment to the big urban centers but has also helped to raise the price of real estate. Rather than completely remove this controversial status, the government of Antonio Costa has decided to limit the allocation of these golden visas to people investing in CMIs and autonomous regions in order to limit the pressure on property prices in Lisbon and Port. This decision to end the Golden Visas on the whole of Portuguese territory is not only happy, but is less worse than expected. Lisbob, the expatriate assistant in Portugal, tells you all about the Portuguese Socialist Party’s decision to end the Golden Visas in Lisbon and Porto.
Portuguese real estate sector is currently turned against the government and against the bad signals it sends to foreign investors. This is the consequence of the possible modification of the rules for awarding golden visas and NHR status. These tax incentives are under the radar of many European countries which see them as unfair competition. Today, Luis Lima, the president of APEMIP, the Association of Professionals and Real Estate Companies of Portugal, sounds the alarm and indicates that the planned changes are driving investors away. Lisbob, the expatriate assistant to Portugal, tells you all about Luis Lima’s statement.
Is something happening in the Portuguese capital real estate market ? In fact, the residential income index recorded in the third quarter of 2019 the first negative variation since the third quarter of 2016, according to data from Confidencial Imobiliário. The mad increase in rental prices in Lisbon is coming to an end, after years of increases which have caused housing difficulties for locals. Some see it as a financial bubble burst, others as a simple adjustment. This 1.4% drop is the first for several years. At the national level, the increase was 0.2%, and 2.5% for Porto. Lisbob, the expatriate assistant in Portugal, tells you all about the falling rents in the Portuguese capital.
Portugal is the fifth country in the European Union where there are the most people struggling to heat their homes properly. The data come from the Eurostat study for the year 2018, which concludes that around one fifth of the Portuguese (19.4%) did not have the financial capacity to meet heating costs during the most difficult months. cold. Lisbob, the expatriate assistant in Portugal, offers you the translation of this article published on sol.sapo.pt.
After the boom, the Portuguese real estate market will cool down in 2020: the president of professionals in the real estate sector says so. He thinks it is necessary to adapt the offer to the needs of the market. Luís Lima, president of the Association of Professionals and Real Estate Companies of Portugal (APEMIP), gives this interview translated from the site dinehirovivo.pt
It could be the cold shower for owners of touristic and seasonal rental property in Portugal. Indeed the ALEP, the association of Alojamento Local in Portugal (seasonal and tourist rental) warned this Thursday that the increase in the tax for housing included in a containment zone represents a tax increase of at least 43% and up to 70% in some cases. Although nothing is yet final, the Portuguese State Budget for 2020 suggests a sharp increase in taxes for owners of Alojamento Local registered property in containment areas. This increase, deemed excessive by professionals in the sector, jeopardizes several hundred jobs and calls into question the profitability of Airbn’b type seasonal and tourist rentals. What are the details of this tax change for the Alojamento local ? What are the expected consequences ? Lisbob, the expatriate assistant in Portugal, tells you all about this tax increase for owners of vacation rental homes.
During the Web Summit the Portuguese government announces good figures at the level of employment. In fact, the unemployment rate declined in the third quarter of this year to 6.1%. During the last quarter more than 31,000 jobs were created. This rate represents a decrease of 0.2% compared to the second quarter of the year. Nevertheless, these figures have to be put into perspective, in particular because of the fall in the active population and the increase in the number of young people without a job or diploma. The INE, the Portuguese National Institute of Statistics, indicates that this is the lowest unemployment rate since 2011. What is the detail of Portuguese unemployment figures? How to explain this dynamism? Is it the tree that hides the forest? Lisbob, the expatriate assistant in Portugal, tells you all about the latest figures of Portuguese unemployment.
