New-build properties in Lisbon and central Portugal

The average construction time for an apartment building is 18–24 months, depending on:

• project scale,
  
• locations,
  
• architectural complexities,
  
• processing speeds for permit documentation.
  

If you take into account the stage from purchasing the land to commissioning, the entire cycle can take up to 3–4 years.

Yes, practically always when buying off-plan, developers offer payment by instalments.

🔸 Typical payment schedule: 10%–20% — upon signing the preliminary sale and purchase agreement (CPCV); 10%–20% — in instalments throughout the construction period (possibly in 2–4 stages), the balance (~60–70%) — upon handover of the keys and signing of the main contract (escritura), often financed by a mortgage. The instalments are interest-free; the price is simply split up. This is advantageous as it allows you to pay in stages without additional costs and you lock in the price at the outset.

Usually flats are rented out in the format “key ready” (turnkey), meaning:

✔️ finished,
✔️ with a fitted kitchen (units, appliances — hob, extractor fan, oven and dishwasher and, as a rule, washing machine),
✔️ with bathrooms,
✔️ with flooring and lighting.

Furniture in the bedrooms and living room — it won't log in.

Yes, it is a frequent occurrence. Reasons:

• red tape,
  
• labour shortage,
  
• weather conditions,
  
• project changes.
  

Delays on 3 to 6 months Happen.

It depends on the market.

In recent years: 📈 flat prices have risen by 10–30% over a construction period of 1.5–2 years. This is particularly true in Lisbon, Porto and the Algarve. This is one of the reasons why it’s advantageous to get in at an early stage.

The bank can issue mortgage approval in advance (at the CPCV stage), but the loan itself is arranged closer to the property handover, when the following are available: the licence for use (Licença de Utilização), the final inspection, and confirmation of completion of works.

💡 In some cases, the bank may finance construction stages, but this is less common and depends on the developer and the bank.

Yes, mandatory for new homes Since 2009.

🔆 Requirements:

• Installation is compulsory solar panel for domestic hot water, if there are no other renewable energy sources.
  

For block of flats — centralised system or individual panels.

5 years - on building structure (foundations, load-bearing walls, floor slabs, etc.).

2 years - on finishing and equipment (tiles, plumbing, windows, doors, etc.).

🔧 Within this period, the developer is obliged to remedy all construction defects, arisen through no fault of the tenant.

📝 How it is formatted:

• The warranty is included in the sales contract.
  
• When handing over an object, it is often documented condition report.
  

💡 The developer must also have third-party liability insurance and completion guarantee (especially in large projects sold off-plan).

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