In Germany property purchase tax is a matter of the individual Bundesländer and can be anything up to 6.5%.Also look into taxes when buying property. Portugal has an 8% transfer tax plus another percent for stamp duty. Spain, in some regions, have a 10% transfer tax whilst Germany is around 2% and Italy is just 0.3% of the purchase price
In Germany property purchase tax is a matter of the individual Bundesländer and can be anything up to 6.5%.
And also not forgetting the costs for the notary public and the entry in the land register. That's normally 1.5% of the price. So if you pay, say, 300,000 euros for the gaff, then that would be an additional cost of 4.5 grand. However, if it's a buy-to-let property, those particular costs can be offset against tax.Not forgetting the Makler kosten.
Portugal , well how much cash have you got as well?
Property in The Lisbon , Algarve , tourist places is kin expensive.
Out of towns and in the sticks it’s much cheaper.
Most everyone talks good English and most if not all apps, tourist electronic devices, ticket machines, have a UK flag to push so they change to English. Also the translations are superb . Most homes/ flats have fiber to the door.
FISCAL code to buy stuff etc. and bank accounts.
Best to do this in Lisbon or it’s environs, Carcavelos, Estoril, Oeiras.
Can get your Fiscal code issued on the first morning you visit, even if your are just thinking about moving there. Using your existing address (Also supposed to have a bill as well) and passport as ID. Then walk into a bank , better in one of the newer shopping malls . Activo bank or Santander, passport , new Fiscal paperwork. Queuing might take a while but getting the account and a new Debit card about 5 minutes, Credit card takes as long as you take to get an address in Portugal. Bank worker will walk out to show you how to use the ATM . Even showing you how to change your PIN into one you will remember.
Average wage is 800 euro. They are trying to raise it to 1000. Cost of living cheap but like the rest fuel, eleccy have gone up. Eating out is very cheap in local places and good as well . Tourist places are more of course.
Becoming a resident is easy , you can do it yourself using sites on the Internet or pay a lawyer 500 euro .
Once resident go into the local medical center to get your Medical number, only pain is you need a Portuguese SIM in the phone as the don’t accept other countries numbers. Medical treatment is good on their NHS but long waiting times ,those who can top up with some medical insurance.
Don’t need to change your driving license unless you want to. Transportation is superb .Road system is pay as you go on highways but they are in super condition. Other roads are in good condition as well.Trains and subways good. Flights not so good , the cheaper carriers have as normal strange time for arrival/departure. TAP the Portugal Carrier can be as cheap as Ryianair but need to book well in advance. Often it’s late as well.
If I could get a buyer for my property I’d be over in a flash.
I am very surprised at the amount of US expats in Portugal.I thought you were all in for Italia?
We are having a look in October, France is still favourite but, when you look at what you get for your money in Portugal it is honestly hard to beat. You can pick up a place for €400K - €500K, view of the ocean, loadsa room, plenty of facilities.
I have seen a few articles on them actively trying to become a retirement location of choice. Their own population is falling; to say last one out turn the lights off would be an exageration but, lots of the younger folks are taking their education and degrees to earn more money outside Portugal. We know of at least 3 mates, of mates, who were tempted to go and have an extended holiday there from the USA. Word is that having tried it they have no intention of coming back to the USA other than to remind themselves why they left.
I am very surprised at the amount of US expats in Portugal.
Not all pensioners and many took the leap during the pandemic. Lot of younger , relative I know . 30.40 year olds seem to be moving to Lisbon.