Albufeira.com Homepage
Forum Home Forum Home » Living in Albufeira / Viver em Albufeira » Algarve Foreign Residents / Residentes Estrangeiros
  New Posts New Posts RSS Feed - Selling property query
  FAQ FAQ  Forum Search   Events   Register Register  Login Login


Selling property query

 Post Reply Post Reply
Author
Message
animallover View Drop Down
Regular
Regular
Avatar

Joined: 03/September/2008
Location: United Kingdom
Status: Offline
Points: 159
Post Options Post Options   Thanks (0) Thanks(0)   Quote animallover Quote  Post ReplyReply Direct Link To This Post Topic: Selling property query
    Posted: 05/December/2021 at 08:53
Good morning

I bought a property 5 years ago and it's registered as my secondary home because at that time I was just coming out on holiday. I've now got residency and have been living in Portugal for 3 years. I want to sell my house and buy another but a real estate has said I'm liable for Capital Gains Tax of 28% because title deeds state my current property is not listed as my principal residence. I thought you didn't pay CGT if you were buying another property regardless of secondary or principal home. Has anyone sold recently to share their experience? TIA
Back to Top
Sponsored Links


Back to Top
peteknopp View Drop Down
Top Contributors
Top Contributors
Avatar

Joined: 20/December/2006
Status: Offline
Points: 3397
Post Options Post Options   Thanks (1) Thanks(1)   Quote peteknopp Quote  Post ReplyReply Direct Link To This Post Posted: 05/December/2021 at 09:26
I am not sure re primary or seconary residence. If you buy another property in Europe within 3 years this can be offset and its likely you pay the 28% on 50% of the profit. If you have any vat included improvement invoices from last 3 or 5 years they can be offset. There is plenty of info online if you google cgt Portugal.
Back to Top
 Post Reply Post Reply
  Share Topic   

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 10.15
Copyright ©2001-2013 Web Wiz Ltd.

This page was generated in 0,469 seconds.