Key Portuguese Real Estate Terms You Should Know
Imóvel
Imóvel means “property” or “real estate.” This general term is used for any type of property, whether residential, commercial, or land.
Compra e Venda
Compra e venda translates to “purchase and sale.” The process of buying and selling property is referred to as compra e venda de imóveis.
Contrato de Promessa de Compra e Venda (CPCV)
This is the “promissory contract of purchase and sale,” a preliminary agreement between buyer and seller. It details the terms of the sale, including price, payment terms, and completion date. The CPCV is binding and usually involves a deposit (sinal).
Sinal
Sinal means “deposit.” This is the amount paid by the buyer to secure the property when signing the CPCV. If the buyer withdraws, they typically forfeit this deposit; if the seller backs out, they may need to pay double the deposit back.
Escritura Pública
This is the “deed of sale,” the official act of transferring ownership. It must be signed in front of a notary (notário), after which the new owner is registered in the Land Registry (Conservatória do Registo Predial).
IMT (Imposto Municipal sobre Transmissões Onerosas de Imóveis)
The IMT is the municipal property transfer tax, paid by the buyer during the purchase process. The rate depends on the property’s value and purpose (residential, secondary home, etc.).
IMI (Imposto Municipal sobre Imóveis)
This is the annual municipal property tax, payable by the property owner. The rate varies by municipality and property type.
Certidão Predial Permanente
This is the “permanent land registry certificate.” It provides a record of the property’s legal status, including ownership and any debts or encumbrances.
Licença de Utilização
The “license of use” certifies that the property is legally fit for its intended use (residential, commercial, etc.).
Avaliação Bancária
This is the “bank valuation,” an assessment of the property’s value, typically required if you’re applying for a mortgage (empréstimo bancário).
The Process of Buying Real Estate in Portugal
1. Property Search (Pesquisa de Imóveis)
Start by browsing online listings, working with a real estate agent (agente imobiliário), or visiting properties in person. Understanding common Portuguese property terms will help you communicate effectively and avoid misunderstandings.
2. Making an Offer (Fazer uma Proposta)
Once you find a suitable property, you can make a formal offer. Negotiations are common, and your agent can assist with this process.
3. Signing the CPCV
Upon agreement, both parties sign the Contrato de Promessa de Compra e Venda and the buyer pays the sinal. This stage secures the deal and outlines all purchase conditions.
4. Due Diligence
Your lawyer (advogado) will verify the property’s legal status, ensuring there are no outstanding debts, legal disputes, or irregularities.
5. Final Deed and Registration (Escritura Pública e Registo)
The final contract (escritura pública) is signed in front of a notary, and the property is registered in your name. You’ll pay the IMT and any other fees at this point.
Essential Vocabulary for Portuguese Property Transactions
- Arrendamento – Rental or lease
- Hipoteca – Mortgage
- Agente Imobiliário – Real estate agent
- Proprietário – Owner
- Vendedor – Seller
- Comprador – Buyer
- Escritura – Deed
- Taxa – Fee or tax
- Financiamento – Financing
- Registo Predial – Land registry
Tips for Language Learners Navigating Real Estate in Portugal
For those learning Portuguese, real estate transactions offer a practical context to expand your vocabulary. Use resources like Talkpal to practice terms, role-play conversations, and understand contracts. Don’t hesitate to ask your agent or lawyer to explain unfamiliar terms. Immersing yourself in the process will not only help you secure your ideal property but also enhance your language skills.
Conclusion
Buying real estate in Portugal involves a unique set of terms and procedures, many of which are grounded in the Portuguese language. Familiarizing yourself with this vocabulary not only streamlines your property search but also empowers you as a buyer. Whether you are investing, relocating, or learning Portuguese with Talkpal, these key terms will help you navigate the real estate market with confidence.
