Terms of payment
The reservation process is simple; the process starts with a small deposit of €5.000. After the reservation, there are 30 days to exchange papers and sign contracts; the buyer has 8 days to renounce without any losses.
After the exchange of papers the process is different for plots and for townhouses.
For a Plot, the buyer must pay:
- 20% of the price at the exchange of papers;
- a second payment of 15% is due six months after the initial payment;
- a third payment of 15% is due 6 months after the second.
- The remaining 50% is due with the execution of the public deed, 18 months after the exchange of papers.
For a Townhouse, the buyer must pay:
- 15% with the exchange of papers,
- 25% six months after the construction starts, and 60% with the execution of the public deed
In relation to the construction of villas, the buyer must pay for the construction license when it is issued, followed by 15 equal consecutive monthly instalments, the first of which is due 15 days after the payment of the Construction License. This first instalment shall coincide with the start of the construction work by the contractor. The value of each payment is determined by the simple division of the total construction price into 15 monthly instalments. VAT is due over construction price.
Buyers can benefit from special conditions and preferential treatment in some of the most prestigious Portuguese and International banks.