Comporta is popular for its countryside character including the landscapes with cork and pine trees. The environment is calm and laid back. The life pace is slower than the hustle and bustle of Lisbon. The town is situated 80 minutes away from Lisbon’s international airport. The wild terrain is still untouched. It boasts vibrant paddy greenery, kilometers of beaches, exquisite seafood, and award-winning golf courses. You can enjoy all this without masses and noise.
Comporta’s property market
Investors can expect strong capital growth because real estate demand is increasing as people believe Comporta to be an idyllic paradise. Tourists are increasing, which means an increase in rental income for property owners here. During summer months the properties here bring strong returns.
Small Property in Comporta village can be around €150,000, whereas the country estate including bells & whistles can cost more than €2.5m. The price will depend on the property type and area you wish to invest in. The real estate market is small so there are no Multiple Listing Services, but you can take help from the agents at Living Portugal Property.
Buying a luxury and sophisticated home in Comporta is hard. The village houses are not suitable for modern lifestyle but with a good architect, you can get a luxurious home built. Besides, you can enjoy a warm neighborhood vibe and local stores.
Foreigners prefer plots in good locations, so they can design and construct their new home suitable to their lifestyle and equipped with everything necessary for comfortable living.
Large estates with more than 5 hectares are also in demand because they afford convenience, privacy, and lots of outdoor space with less traffic and lots of nature.
Buying property procedure for foreigners
The purchase process is not different than in North America or Europe. You will need to find a knowledgeable agent in Comporta, who will help to choose the right property. Make an offer, if you find an incredible deal.
You will also need to hire a competent real estate lawyer to support you through the buying process. To close the deal there will be a need to get a Fiscal number from local tax authorities. The process takes a maximum of 15 minutes, but your lawyer can do it on your behalf.
The lawyer will prepare the contract, which includes the closing date, deposit amount, and agreed on preconditions with the seller like mortgage approval or survey or repairs. The contract is then submitted at the land registry for registration.
The deposit is 10% to 30% of the purchase price, which goes to the seller’s bank account directly. It does not stay in an escrow account, so remember if you blackout you lose your deposit. If the seller pulls out, then he will pay you twice the deposit amount.
You need to incur an extra 9% to 10% on the purchase price for notary fees, legal charges, and purchase taxes. Closing occurs at the Notary office, where the Deed of Purchase & Sale gets signed and the property legally gets registered under your name.
Buying a home in Comporta for foreigners is a huge decision. So, make sure to hire a good local agent with experience and reputation.