Frequently asked questions
Frequently asked questions
We're here to help
Take a look at our extended timelines for investing or buying to find out about everything we can do for you. In short, we can help from start to finish. From arranging financing options to closing the purchase agreements, sorting utilities and preparing insurances. Even if you need a barbecue in the end, we will get it sorted for you. And when the property needs to generate a return, we can do the rental management for you, trough our rental department. In other words, we are there to help you every step of the way. No stones left unturned.
Frequently asked questions
Everything you need to know
Our service
Do I need anyone else in the process?
Yes, it’s essential to have a good team when buying property in Portugal. With Hatch, you gain access to our pre-qualified partner network, including lawyers, builders, mortgage and insurance brokers, architects, surveyors, and interior designers. We’ve carefully selected partners to ensure everything goes smoothly.
Do you help with the actual property purchase?
Yes, our service includes the acquisition stage, where we handle all communications and arrangements between the key parties involved (lawyers, owners, agents, councils, mortgage brokers, etc.). We manage everything so you can relax.
Can you help me renting out my property to cover costs and mortgage payments?
Yes! Hatch Real Estate specializes in the investment side of property purchases. Many buyers cover their costs and mortgage payments with rental income, making it possible to enjoy a holiday home essentially for free. We can take care of the complete rental operation for you.
the process
Do I need a lawyer to buy a property?
While it’s not mandatory, it’s highly recommended to hire a lawyer when buying property in Portugal. The notary’s role is limited, so a lawyer can help with contracts, paperwork, and ensure everything is in order—especially if there’s a language barrier.
How long does it take to buy a house?
A reservation and negotiation process can take about a week. If a survey is needed, this adds 1-2 weeks. After the survey, the promissory contract (CPCV) is usually signed, with the final deed taking place about two months later. Once the deed is signed, the property is officially yours.
Is it normal to reserve a property?
Yes, paying a reservation fee is common in Portugal. You can expect to pay €5,000 to €10,000 into an escrow account as a sign of good faith. This payment is refundable.
When do I get the keys to my new property?
You’ll receive the keys and all necessary documents right after signing the public deed. From that moment, you can access your property immediately.
the costs
What costs are associated with buying a property?
As a rule of thumb, expect to pay around 9% of the purchase price in additional costs. Here’s a breakdown of common expenses:
- Lawyer fees: ~1% of purchase price
- Notary fees and land registration: ~€1,750
- IMT (transfer tax): Averages around 6%, depending on the property price
- Stamp duty: 0.8% of the purchase price
- Mortgage stamp duty (if applicable): 0.6% of the mortgage amount
What is a typical deposit payment?
A standard deposit is around 10% at the signing of the CPCV. For new build properties, the deposit may be higher.
What are the running costs of owning a property in Portugal?
The main ongoing costs include:
- IMI (property tax): ~0.3% of the property’s patrimonial value. In real terms you can expect to pay between €400-500 per year for property with a market value of €500k.
- Utilities (varies by property size)
- Maintenance (varies by size, age, and facilities)
- TV/Internet: ~€360 per year
- Condominium fees (if applicable): €30 to €500 per month, depending on facilities. An average 2 bed apartment in a condominium with a pool typically would pay around €120 per month. If there is no pool, you will often be closer to paying €40 per month.
The location
Why the Algarve
The Algarve stands out for its great climate, stunning coastline, and potential for good rental returns, attracting investors from all over. Infrastructure is growing rapidly, allowing fast growth throughout the region. A good example of this growth is that from the summer of 2025, there will be going direct flights from New York (USA) to Faro, making it again more convenient for tourists worldwide to visit.
Furthermore, more people visit The Algarve in the off season compared to other popular regions that are situated more to the North. The reason for this is simple, The Algarve, which is located close to Morocco, has a far sunnier climate in the winter than these other regions. At the same time, the region finds itself at the Atlantic Ocean, making it not too warm and scorching in the summer. This is a big advantage that the region has over for example the South of Spain, which tends to be very hot in the summer months.
How do I find the best location for me?
We offer a detailed location brochure and the option to plan a training session with one of our experts. By the end of the session, you’ll have a clear idea of which areas in the Algarve best suit your needs. From there, we can move on to selecting the right properties for you.
