Turnkey Project Costs
With turnkey projects you will be responsible for the costs of your legal fees and Portuguese property transfer tax (IMT) which is currently set at 6.5% of the purchase cost. In addition stamp duty, currently levied at 0.8% of the purchase price, will be payable upon the purchase of the plot.
Portuguese legal fees are not unreasonable and highly negotiable, a good budget would be in the order of €6000.
The specification provided in our turnkey projects is very comprehensive and so it is easier to list the main items you will need to consider as additional:
- All furnishings & linen
- Kitchen crockery & culinary items
- Wall lights & feature chandeliers
- Advanced home control & demotics if required
- A/V equipment if required
- Garden furniture & equipment
- Security cameras if required
Needless to say, we will provide you with any help you might require in procuring these items.
Plot Development Costs
New Paradigm are offering our clients the unique opportunity of designing and building a villa to reflect their own lifestyles, tastes and intended use. Therefore each villa will be entirely individual within a defined architectural language and so it is not possible to provide a definitive cost until the final design and specification is approved by the individual clients.
Nevertheless, it is equally understandable that few clients would wish to embark upon a project without having a detailed understanding of the scope of costs.
Portuguese building costs comprise of the following key elements; the enclosed internal area, the outside covered areas, garages & technical areas, basement areas, pool & garden. These cost areas must be discussed with Mario at the very outset to help define the scope of the project. One of the very best ways forward is to provide Mario with an overall budget to work with. The building allowances attached to the plots are incredibly generous and it is not always necessary to build to the maximum to produce a stunning home. However, to take full advantage of the unique position of these plots, we estimate that our clients should budget between €1,450,000 and €1,750,000 (including IVA) for the professional fees and cost of construction.
Prospective clients can be assured that New Paradigm’s only objective is to provide value for money. In this respect our vast project management, design and construction knowledge will be placed at our clients’ disposal to value engineer each and every project.