Buying Property in Portugal — A Guide for Canadians
Good news first: you can buy a home in Portugal. Nobody stops Canadians from buying there. You don’t have to live in Portugal, and you don’t need a visa to own a place.
What you do need is three things. A Portuguese tax number. A lawyer. And a budget that covers more than the price on the listing.
This page walks you through it in order. If you just want quick answers, start with the Portugal FAQ.
What the buying process looks like, start to finish
- Get your NIF. That’s your Portuguese tax number. Nothing happens without it.
- Open a Portuguese bank account. Not required, but it makes the rest easier.
- Hire a lawyer. Your own lawyer. Not the seller’s.
- Agree on a price and sign the promissory contract. This is where it gets real. You pay a deposit here.
- Your lawyer checks everything. Who owns it. What is owed on it. Whether the paperwork is right.
- Sign the deed. You do this in front of a notary, and you pay the rest.
- Register it. The home goes in your name and the taxes get paid.
You can do steps one to three before you even start looking. That is the most useful thing on this page. Most of the waiting happens there.
What to sort out before you start looking
Your NIF. A lawyer can get one for you. You don’t have to be in Portugal.
Your lawyer. Pick your own. The seller’s lawyer works for the seller.
Your real budget. Not what you can pay for the house. What you can pay for the house plus everything else.
Your mortgage, if you need one. Talk to a Portuguese bank early. It changes what you can afford and how fast you can move.
How much does it cost to buy a house in Portugal?
On top of the price, you pay a few things. A property transfer tax called IMT. Stamp duty. Notary and registry fees. And your lawyer.
These are not a flat fee. The more the home costs, the more they cost.
IMT is the big one. What you pay depends on the price, the kind of home, and whether you will live in it. Your lawyer can give you the real number before you sign anything. Ask early, because it changes what you can afford.
Once you own the place, there is a yearly property tax too. That one is called IMI.
How long does it take to buy a house in Portugal?
Once your offer is accepted, it usually takes weeks, not months. Paying cash is fastest.
Three things slow it down. Waiting on your NIF and bank account. Waiting on a mortgage. Or your lawyer finding a problem.
So do the early paperwork early. That part you control.
How much deposit do you need to buy a property in Portugal?
There are two deposits, and people mix them up.
The contract deposit is what you pay when you sign the promissory contract. If you walk away, you usually lose it.
The mortgage deposit is your own money toward the home. Portuguese banks do lend to Canadians. Just expect to put down more than a local would, and expect them to ask for proof of your income and savings.
Where is the best place to buy property in Portugal?
That depends on what you want it for.
A place you plan to rent out to vacationers has to be somewhere tourists actually go. A place you plan to live in all year needs shops, a doctor, and neighbours in February. Those are not always the same town.
- Algarve — the best known coast. Busiest for vacation rentals.
- Lisbon and the Lisbon Coast — the capital, and the towns along the water next to it.
- Porto — the northern city, and the river valley behind it.
- Silver Coast — north of Lisbon. Quieter, and usually cheaper.
- Madeira and the Azores — the islands.
You can see them all on the regions page. Or browse by apartment, villa, townhouse, new build or land.
What goes wrong
The mistakes that cost people money are pretty ordinary ones.
Only budgeting for the price. The extra costs are real, and you cannot skip them.
Leaving the NIF too late. Now you are waiting on paperwork with money already down.
Signing before your lawyer is done. That is the point where your money is at risk.
Assuming you can rent it out. The rules change from town to town, and some places limit it. If you are counting on that income, check before you buy.
Forgetting the yearly costs. Property tax, building fees, insurance, repairs. They do not stop.
Not checking what it costs to move your money. On a house, the exchange rate is real money.
Where to go from here
- Just looking? Browse properties for sale in Portugal and see what your money buys.
- Got a question? The Portugal FAQ has the short answers.
- Want the details? The Guide to Portugal goes through every step.
- Ready to go? Tell me what you are after and I will find it — help me find a property.
Already own a place in Portugal and thinking of selling? There is a seller’s guide too.