Unlocking the Secrets: Your Complete Guide to the Real Estate Glossary in Portugal

Mastering the vocabulary employed within the realm of Portuguese real estate is paramount for prospective buyers, sellers, and investors alike. In order to assist you in manoeuvring through the intricacies of property transactions in Portugal, we have meticulously curated an extensive glossary encompassing the most prevalent real estate terms employed throughout the country. Let us delve into the essence of each term, providing you with a concise overview:

Additional to IMI

This refers to a surcharge added to the Municipal Property Tax (IMI) for properties with an elevated value.

AIMI

AIMI, or Adicional ao Imposto Municipal sobre Imóveis, is an additional property tax in Portugal imposed on properties that exceed a certain monetary threshold. The threshold for AIMI is currently set at €600,000 for individuals and €1,200,000 for entities. Its purpose is to ensure that owners of high-value properties contribute proportionally more to local tax revenue. AIMI applies to both individuals and entities and is calculated based on progressive tax brackets. Property owners should be aware of their AIMI obligations and consult with tax professionals or legal experts for accurate and up-to-date information.

ADENE

ADENE, which stands for Agência para a Energia, is a notable agency in Portugal that plays a crucial role in promoting energy efficiency and sustainability. With a focus on enhancing energy consumption practices, ADENE works towards implementing sustainable measures and raising awareness about energy-related issues. As a significant player in the energy sector, ADENE collaborates with various stakeholders, including government entities, businesses, and the public, to drive positive change and contribute to a more sustainable future in Portugal.

Adverse Possession

It is a legal concept that allows a person to claim ownership of a property if they have occupied and used it openly and continuously for a specified period without the owner's objection.

Apartment

An apartment is an independent unit within a building or condominium primarily used for residential purposes. It provides a self-contained living space for individuals or families, offering privacy and convenience. Apartments are commonly found in multi-unit buildings and provide residents with shared amenities and maintenance responsibilities. They serve as a practical and often affordable housing option, especially in urban areas.

Assembleia do Condomnio

The Assembleia do Condomínio is a crucial meeting where condominium owners discuss and decide on matters related to the common areas and administration of the condominium. It provides an opportunity for owners to voice opinions, make decisions, and contribute to the well-being of the condominium community. Active participation is essential for effective management and governance.

Assignment of Contractual Position

The assignment of contractual position is the legal transfer of contractual rights and obligations from one party to another.

Autonomous Fraction

An independent unit within a building or development, such as an individual apartment or shop that has its own access through a communal area or directly from the street.

Avaliador Imobiliário

An Avaliador Imobiliário is a certified real estate appraiser who has undergone specialised training accepted by the CMVM (Comissão do Mercado de Valores Mobiliários), the Portuguese Securities Market Commission. They are experts in assessing the value of properties based on various factors and provide professional opinions on their market worth.

Building Booklet

The Caderneta Predial is the Property Registration document that provides crucial information about a property, including identification details, location, boundaries, and tax assessment value. This certificate is essential for property owners, buyers, and sellers to understand the legal and fiscal aspects of a property.

Certificado Energético

The Certificado Energético is an energy performance certificate that assesses the energy efficiency of a building or property. It provides information about energy consumption and rates the property on an efficiency scale. The certificate helps owners, buyers, and renters make informed decisions and promotes sustainable practices. Property owners are responsible for obtaining and displaying the certificate during transactions. Compliance with certification requirements is important, and staying updated on regulations is recommended.

Coeficiente de Aproveitamento

The Coeficiente de Aproveitamento, or building density coefficient, determines the maximum construction area allowed on a plot of land. It is established by local authorities and helps control urban development, infrastructure capacity, and population density. Compliance with this coefficient is important for property owners and developers to ensure adherence to zoning regulations and obtain necessary permits. Consulting with local authorities is recommended for accurate information.

Common Parts

Areas of a building or development shared by all residents or owners, such as staircases, elevators, and common gardens.

Condomínio

The condominium or community of owners who jointly own and manage a building or development made up of their individually owned properties.

Constitutive Title of Horizontal Property

The legal document establishes a horizontal property regime, defining the rights and obligations of individual owners within a building or development. Showing what is independently owned and what is communal.

Contrato Promessa de Compra e Venda

The Contrato Promessa de Compra e Venda or promissory contract is a legally binding agreement between a buyer and seller that outlines the terms and conditions of a property transaction.

Crédito Consolidado

Crédito Consolidado is a loan that combines multiple debts into a single consolidated loan. It simplifies debt management and potentially offers lower interest rates. Careful consideration and research are necessary before opting for this option.

Dependent Gross Area

Dependent Gross Area refers to the total built area of a property, encompassing the covered and closed areas exclusively used by the owner. This includes spaces that may be part of common areas or located outside the building or individual unit. Understanding the Dependent Gross Area helps determine the overall size and value of the property, considering both private and shared spaces.

Deployment Area

The deployment Area refers to the portion of a plot of land that is occupied by a building or construction. It represents the footprint or ground coverage of the structure on the land. Understanding the Deployment Area is important for assessing the spatial utilisation and density of a property.

Deployment Polygon

The Deployment Polygon refers to the specific area within a plot of land where a building or construction is permitted. It outlines the boundaries or limits within which development can take place. This polygon defines the spatial area where structures can be built, ensuring proper zoning and adherence to land-use regulations. Understanding the Deployment Polygon is crucial for developers, architects, and property owners to ensure compliance with planning permissions and to determine the appropriate location for construction activities. It serves as a guiding framework for responsible and controlled development within the designated plot of land.

Distrate

Distrate refers to the termination or cancellation of a real estate contract or agreement. It signifies the end of the contractual relationship between the parties involved. This can occur for various reasons, such as mutual agreement, breach of contract, or changes in circumstances. When a distrate takes place, the contractual obligations, rights, and responsibilities outlined in the agreement are brought to an end. It is important for all parties to understand the terms and conditions surrounding distrates to ensure a smooth and legally compliant termination of the real estate contract or agreement.

Duplex

Duplex refers to a type of residential unit that is spread over two floors within a building. It is characterized by having separate levels connected by an internal staircase. Typically, the lower floor of a duplex consists of common living areas such as the living room, kitchen, and dining area, while the upper floor houses the bedrooms and private spaces. This design offers a distinct living arrangement, providing more space and privacy compared to traditional single-level apartments. Duplexes are popular among individuals or families seeking a multi-level living experience within a single dwelling. The unique layout and flexibility of duplex units make them an appealing choice in the real estate market.

Effort Rate

Effort Rate, also known as Debt-to-Income Ratio (DTI), is a financial metric used to evaluate the affordability of a mortgage for a borrower. It represents the ratio between the borrower's income and their monthly mortgage payment. The Effort Rate helps lenders assess the borrower's ability to repay the loan by considering their income in relation to the financial commitment of the mortgage. A lower Effort Rate indicates a more manageable financial burden, suggesting a higher likelihood of timely loan repayment. Lenders typically have specific thresholds or guidelines regarding the maximum acceptable Effort Rate for approving mortgage applications. Understanding and managing one's Effort Rate is crucial for borrowers to make informed decisions, ensure financial stability, and increase the chances of loan approval.

Eviction Lawsuit

An eviction lawsuit refers to the legal proceedings initiated to remove a tenant or occupant from a property. It occurs when a landlord or property owner seeks to regain possession of the property due to various reasons, such as non-payment of rent, lease violations, or expiration of the lease agreement. The eviction process typically involves filing a lawsuit, serving legal notices, and appearing before a court to present the case. The purpose of an eviction lawsuit is to enforce the landlord's rights and establish the legal grounds for the eviction. It is essential for both landlords and tenants to understand their rights and obligations under the applicable laws to ensure a fair and lawful eviction process. Seeking legal advice and following the proper procedures are crucial to successfully navigate eviction lawsuits and resolving disputes related to the occupancy of a property.

Exchange

Exchange is the formal act that signifies the completion of a property sale in the real estate process. It takes place when both the buyer and seller sign and exchange contracts, legally binding them to the terms of the transaction. This significant milestone marks the point at which the property officially changes ownership. The exchange of contracts typically occurs after thorough negotiations, due diligence, and agreement on all aspects of the sale, including the purchase price, deposit amount, completion date, and any special conditions. Once the contracts are exchanged, the buyer is obligated to proceed with the purchase, and the seller must transfer the property as outlined in the agreement. It is a crucial step that solidifies the commitment between the parties and sets the stage for the subsequent completion of the property sale.

Exclusivity Contract

An Exclusivity Contract is an agreement between a property owner and a real estate agent that grants the agent exclusive rights to market and sell the property. This contract establishes a formal relationship between the owner and the agent, ensuring that only the designated agent has the authority to represent and promote the property during the agreed-upon period. With an Exclusivity Contract, the agent has a vested interest in selling the property and will dedicate their efforts and resources to maximizing its exposure and securing a successful sale. This agreement provides clarity, accountability, and a sense of commitment between the property owner and the agent, streamlining the sales process and increasing the chances of finding a suitable buyer.

Fine

A fine refers to a penalty or monetary charge that is imposed as a consequence of failing to meet contractual obligations. It serves as a form of punishment or deterrent for non-compliance with the terms and conditions outlined in an agreement. Fines are designed to enforce accountability and incentivize adherence to contractual commitments by imposing a financial consequence for any violations.

Free Land Area

The free Land Area refers to the unoccupied portion of land within a property that is not taken up by any buildings or structures. It represents the available space that can be utilized for various purposes such as landscaping, expansion, or future construction projects.

Golden Visa Portugal

The Golden Visa Portugal program provides an opportunity for non-EU investors to obtain residency permits by making substantial investments in Portugal, with real estate being one of the eligible investment options. This initiative aims to attract foreign investment, stimulate economic growth, and create employment opportunities while offering investors the benefits of residency in a European country.

Gross Area

Gross Area refers to the total area of a property, encompassing all enclosed spaces within its boundaries. It includes the measurement of all rooms, corridors, hallways, closets, and other interior areas, regardless of their functionality. This calculation provides an overall understanding of the spatial extent of the property, without considering external factors such as walls or structural elements. The Gross Area is an important metric used in real estate to assess the size and capacity of a property, enabling buyers, sellers, and investors to make informed decisions based on the total space available.

Gross Construction Area

The Gross Construction Area refers to the total sum of all enclosed areas within a building, including walls and partitions. It encompasses the measurement of all interior spaces, such as rooms, corridors, staircases, and common areas, considering the actual physical extent of the building. This calculation takes into account not only the usable areas but also the thickness of walls and partitions, providing a comprehensive understanding of the total constructed space. The Gross Construction Area is a valuable metric used in real estate to assess the size, capacity, and overall footprint of a building, aiding in the design, planning, and evaluation of properties.

Growth Share

Growth Share refers to the percentage of appreciation or increase in the value of a property over a specific period. It represents the portion of value gained by the property owner due to market conditions, improvements, or other factors. The Growth Share is a key indicator of the property's performance and potential return on investment. It is often used to assess the profitability and success of real estate investments, allowing investors to gauge the extent of value growth and make informed decisions based on the property's potential for future appreciation.

Home

Is more than just a physical structure; it refers to a place of residence, typically a house or apartment. It provides comfort, security and a sense of belonging.

Home Staging

Home staging is the strategic practice of meticulously preparing and presenting a property in the most appealing and attractive way possible to entice potential buyers or tenants. This artful process involves enhancing the property's visual appeal by optimizing its layout, decluttering and depersonalizing spaces, improving lighting, and adding tasteful decor and furnishings. The goal of home staging is to create a welcoming and aspirational environment that allows prospective buyers or tenants to envision themselves living in the space, ultimately increasing the property's marketability and the likelihood of a successful sale or rental.

Horizontal Property

Horizontal Property refers to a legal regime that grants individual owners separate ownership rights over specific units within a building or development, while also establishing shared ownership of common areas. This arrangement allows each owner to have exclusive control and responsibility for their unit while collectively maintaining and managing the shared spaces, such as hallways, elevators, gardens, and amenities. The concept of horizontal property enables efficient and organized property ownership, fostering a sense of community and shared responsibility among the owners within the same building or development.

Housing Permit

A housing permit is an essential authorization issued by local authorities that grants permission for the construction, alteration, or renovation of a property. It ensures that the proposed work complies with relevant building codes, regulations, and safety standards. Obtaining a housing permit is a crucial step in the real estate process, as it demonstrates compliance with legal requirements and safeguards the integrity and quality of the construction or renovation project.

Housing Technical Data Sheet

A Housing Technical Data Sheet is a comprehensive document that offers detailed technical information about a property, specifically focusing on its construction characteristics and the materials used. This essential document provides valuable insights into the structural integrity, architectural elements, and technical specifications of the property. It may include details such as the building's foundation, flooring, roofing, insulation, electrical, and plumbing systems, as well as any special features or modifications. The Housing Technical Data Sheet serves as a valuable resource for property buyers, sellers, and professionals in assessing the quality, condition, and compliance of the property with relevant building standards and regulations.

IMI

IMI, which stands for Imposto Municipal sobre Imóveis, is the Municipal Property Tax imposed on real estate properties in Portugal. It is a local tax that is levied annually based on the assessed value of the property. The IMI tax revenue contributes to the funding of local municipalities and is utilized for public services, infrastructure development, and maintenance. Property owners are responsible for paying the IMI tax, and the amount is calculated according to the property's taxable value and the applicable tax rates determined by the local authorities.

IMT

IMT, short for Imposto Municipal sobre Transmissões Onerosas de Imóveis, is the Transfer Tax imposed on real estate transactions in Portugal. It is a tax levied on the transfer of property ownership, including the sale, donation, or exchange of real estate. The IMT tax rate varies depending on several factors such as the type of property, its location, and the value of the transaction. The payment of IMT is the responsibility of the buyer or the party acquiring the property and must be settled within a specified timeframe following the transaction. The revenue generated from IMT contributes to local municipalities' funds and is used for various public purposes, such as infrastructure development and public services.

Joint Owners

Joint owners refer to multiple individuals or entities who collectively share ownership of a property. They hold legal rights and responsibilities over the property and typically have an agreement outlining their respective shares or ownership interests. Joint ownership can occur in various forms, such as joint tenancy or tenancy in common, depending on the jurisdiction and specific circumstances. Joint owners may have equal or unequal shares in the property and must work together to make decisions regarding the property's use, maintenance, and potential sale. It is essential for joint owners to have clear communication, mutual understanding, and a well-defined agreement to ensure a harmonious and effective co-ownership arrangement.

Land Register Office

The Land Register Office, also known as the Land Registry, is the governmental institution tasked with the important role of maintaining accurate and up-to-date public records of land and property ownership. This office serves as the central repository of information where details about property rights, transfers, mortgages, and other legal encumbrances are recorded and preserved. It plays a vital role in ensuring transparency, facilitating property transactions, and providing legal certainty regarding land ownership. The Land Register Office acts as a valuable resource for property buyers, sellers, and other stakeholders, offering reliable information and documentation regarding the ownership history and legal status of land and properties.

Lease Agreement

A lease agreement is a legally binding contract that establishes the terms and conditions of a rental arrangement between a landlord and a tenant. It outlines key details such as the duration of the lease, rent amount, payment schedule, security deposit requirements, maintenance responsibilities, and any restrictions or provisions specific to the property. This agreement serves to protect the rights and obligations of both parties involved and provides a clear framework for the landlord-tenant relationship throughout the lease term.

License

A license is an official authorization provided by the relevant authorities that grants permission for a specific activity to take place. In the context of real estate, licenses can include construction permits, occupancy licenses, or any other necessary permissions required for certain actions or operations related to properties.

Liveable Area

The livable area of a property refers to the space within it that is designed and suitable for habitation, excluding shared areas and non-residential sections. It encompasses the rooms and areas where individuals can reside, such as bedrooms, living rooms, kitchens, and bathrooms, providing a comfortable and functional living environment.

Mortgage

A mortgage is a financial arrangement where a borrower obtains a loan from a financial institution to fund the purchase of a property. This loan is secured by the property itself, which acts as collateral for the lender. The borrower agrees to repay the loan amount over a set period, typically through regular installments that include both principal and interest. Mortgages play a crucial role in real estate transactions, enabling individuals to become homeowners by spreading out the cost of the property purchase over an extended period. The terms and conditions of a mortgage, including interest rates, repayment terms, and eligibility criteria, vary depending on the lender and the borrower's financial profile.

National Rental Desk

The National Rental Desk is a government entity that plays a crucial role in regulating and overseeing rental properties and landlord-tenant relations. It serves as a central authority that provides valuable information and resources to both landlords and tenants, ensuring fair practices and fostering harmonious relationships in the rental market. The National Rental Desk may offer services such as mediation in disputes, guidance on rental laws and regulations, and maintaining a database of registered rental properties. By promoting transparency, accountability, and compliance with rental laws, the National Rental Desk aims to create a balanced and secure rental environment for all parties involved.

NRAU

The NRAU, which stands for Novo Regime do Arrendamento Urbano or the New Urban Rental Law, is a legislative framework in Portugal that governs rental agreements. Enacted to provide more stability and balance between landlords and tenants, the NRAU establishes guidelines and regulations regarding rental contracts, rent increases, termination of contracts, and other essential aspects of the landlord-tenant relationship. It aims to create a fair and transparent rental market by ensuring both parties have clear rights and obligations. The NRAU serves as a vital legal reference for landlords and tenants, offering a structured framework to navigate rental agreements and resolve any potential disputes that may arise.

Permanent Certificate of Commercial Registration

The Permanent Certificate of Commercial Registration is a significant document issued by the Commercial Registry, verifying the legal existence and registration of a commercial entity. This certificate serves as proof that the business has undergone the necessary legal procedures and is recognized as a legitimate entity. It contains essential information about the company, such as its name, registration number, date of establishment, and registered address. The Permanent Certificate of Commercial Registration provides credibility and confidence to stakeholders, including business partners, clients, and financial institutions, as it confirms the official standing and authenticity of the commercial entity.

Permanent Land Registry Certificate

The Permanent Land Registry Certificate is a crucial document issued by the Land Registry Office, serving as an authoritative proof of legal ownership and status of a property. It contains comprehensive information about the property, including its location, boundaries, size, and any existing encumbrances or restrictions. This certificate plays a pivotal role in real estate transactions, providing confidence and assurance to buyers, sellers, and other stakeholders. By certifying the ownership and legal standing of a property, the Permanent Land Registry Certificate safeguards the rights and interests of property owners, ensuring transparency and facilitating smooth property transactions.

Private Gross Area

Private Gross Area refers to the total enclosed area within a property, encompassing both private spaces and common areas. It includes all living spaces, such as bedrooms, living rooms, kitchens, and bathrooms, as well as any private balconies or terraces associated with the property. This measurement provides an overall assessment of the size and space available for the exclusive use of the property owner.

Public Deed

A Public Deed is a significant legal document that holds binding authority and is executed in the presence of a notary or a public official. It is commonly utilized for the transfer of property ownership, serving as undeniable proof of the transaction. This document outlines the terms, conditions, and details of the property transfer, ensuring transparency and legality. The Public Deed plays a vital role in real estate transactions, offering security and assurance to both parties involved, and is a crucial step in the process of transferring property ownership.

Real Estate Leasing

Real Estate Leasing refers to the act of renting or leasing a property to a tenant, typically involving the negotiation of rental terms and the signing of a lease agreement. This process allows property owners to generate income by granting temporary possession and usage rights to tenants in exchange for periodic rental payments.

Real Estate Mediation

Real Estate Mediation involves the facilitation and negotiation of property transactions, serving as a neutral intermediary between buyers, sellers, landlords, and tenants. Mediators help to resolve conflicts, address concerns, and guide parties towards mutually beneficial agreements, ensuring a smoother and more efficient real estate transaction process.

Real Estate Mediation Agreement

A Real Estate Mediation Agreement is a contractual agreement that establishes the terms and conditions of the business relationship between a real estate agent and their client. This agreement outlines the scope of services to be provided by the agent, including property marketing, negotiations, and facilitation of transactions. It also specifies important details such as the duration of the agreement, commission fees, and any exclusivity arrangements. The Real Estate Mediation Agreement serves as a formal and legally binding document that protects the interests of both parties involved, ensuring clarity and transparency throughout the real estate mediation process.

Real Estate Raising

Real Estate Raising involves enhancing the value of a property through various means such as renovations, improvements, or expansions. By strategically investing in upgrades and modifications, property owners aim to maximize its market appeal, functionality, and overall worth, ultimately increasing its potential for a higher selling price or rental income.

Real Estate Valuation

Real Estate Valuation is the professional assessment or estimation of the value of a property, carried out by a qualified appraiser. This process involves a comprehensive evaluation of various factors including the property's location, size, condition, comparable sales data, market trends, and other relevant variables. The appraiser employs recognized valuation methodologies to arrive at an unbiased and objective opinion of the property's worth, which is crucial for making informed decisions regarding buying, selling, financing, or investing in real estate. Real Estate Valuation plays a vital role in determining fair market value, ensuring transparency and confidence in real estate transactions.

Security Deposit

Security Deposit is a financial safeguard provided by a tenant to a landlord in the form of a sum of money or collateral. Its purpose is to serve as security against any potential damages or unpaid rent during the tenancy period. The security deposit is typically refundable upon the tenant's compliance with the terms of the lease agreement and the satisfactory condition of the property upon move-out, excluding any legitimate deductions for repairs or outstanding obligations.

Spread

Spread in the context of a mortgage loan refers to the difference between the interest rate charged by the lender on the loan and the reference interest rate, often linked to a benchmark such as the Euribor. The spread represents the lender's profit margin and accounts for factors such as credit risk, administrative costs, and market conditions. A lower spread generally indicates more favorable borrowing terms for the borrower, while a higher spread may result in higher borrowing costs. The spread is an essential component in determining the overall interest rate and monthly mortgage payments for the borrower.

Sun Exposure

Sun Exposure refers to the positioning and extent of sunlight that a property receives during the course of a day. It considers factors such as the property's orientation, surrounding structures, and landscape, which influence the amount and duration of sunlight exposure. Sun exposure is an important consideration for homeowners and tenants as it can impact natural lighting, heating, and overall comfort within the property.

TAE

TAE (Taxa Anual Efetiva) is the Annual Effective Rate, which represents the total cost of a loan over a year, including interest charges and any associated fees. It provides borrowers with a comprehensive understanding of the actual cost of borrowing by considering not only the nominal interest rate but also the additional costs involved. The TAE enables borrowers to compare loan offers from different financial institutions and make informed decisions based on the true cost of credit.

TAER

TAER (Taxa Anual Efetiva Revista) is the Revised Annual Effective Rate, which takes into account changes in interest rates during the loan term. It reflects the updated cost of borrowing, considering any modifications to the initial interest rate or associated fees. The TAER provides borrowers with a more accurate representation of the total cost of the loan, considering any adjustments that may occur over the loan's duration. It allows borrowers to assess the long-term affordability and financial implications of the loan under varying interest rate scenarios.

TAN

TAN (Taxa Anual Nominal) refers to the Nominal Annual Interest Rate, which represents the base interest rate of a loan. It is the stated rate at which interest is calculated on the principal amount without considering additional fees or compounding effects. The TAN serves as a reference point for borrowers to understand the basic cost of borrowing before factoring in other charges or adjustments specific to their loan agreement.

Topographic Survey

A Topographic Survey is a comprehensive surveying process that captures and documents the precise physical features and boundaries of a property. It involves the use of specialized equipment to measure and map details such as elevation, contours, structures, vegetation, and utilities. The resulting topographic survey provides accurate and detailed information essential for various purposes, including land development, construction projects, and property assessments.

Toponymic Certificate

A Toponymic Certificate is an official document issued by the Toponymic Commission, certifying the official name and location of a place or address. It serves as a reliable source of information regarding the correct naming and positioning of geographic entities. The Toponymic Certificate ensures accuracy and consistency in addressing and referencing locations, contributing to effective communication, navigation, and documentation within a specific region or jurisdiction.

Toponymy

Toponymy is the field of study that focuses on investigating place names, delving into their origins, meanings, and usage. It explores the linguistic and cultural aspects associated with naming locations, providing insights into the historical, geographical, and social context of a region. Through the analysis of toponyms, researchers can uncover valuable information about local heritage, traditions, and human interactions with the environment.

Typology

Typology in the realm of real estate refers to the classification or categorization of properties based on their specific layout, number of rooms, and overall structure. This classification helps in understanding the different types of properties available in the market and facilitates comparisons and assessments. By identifying common features and characteristics, typology aids in guiding buyers, renters, and real estate professionals in finding properties that meet their specific needs and preferences.

Utilization License

A Utilization License is an official document issued by the local authorities certifying that a property has met the necessary standards for occupancy. It confirms that the property complies with the applicable regulations and safety requirements, ensuring that it is suitable for habitation or specific use. The Utilization License provides assurance to occupants or users that the property has undergone the necessary inspections and approvals, meeting the established standards for quality and safety.

Vacant House

A vacant house refers to a property that is currently unoccupied and available for rent or purchase. It typically signifies that there are no tenants or residents currently residing in the property. Vacant houses can present opportunities for prospective tenants or buyers who are actively seeking a new place to live. Property owners or landlords may advertise vacant houses to attract potential occupants and facilitate the leasing or selling process.

VPT

VPT (Valor Patrimonial Tributário) is the Taxable Asset Value used for calculating property taxes in Portugal. It represents the assessed value of a property as determined by the tax authorities. The VPT serves as the basis for determining the annual property tax amount owed by the property owner. It takes into account various factors such as the location, size, condition, and characteristics of the property. The VPT plays a crucial role in the taxation system, ensuring a fair and consistent assessment of property values for tax purposes.

This comprehensive glossary of real estate terms in Portugal provides valuable insights into the terminology commonly used in property transactions. However, it is important to note that real estate laws and regulations may change, and seeking legal advice is crucial for specific cases.