MESPIL Property Buyers FAQ

Do you have questions about your property purchase?

MESPIL make it easy for property buyers to purchase quality real estate in the Algarve, Faro, Vilamoura and the capital city of Lisbon.

MESPIL are very familiar with the Golden Visa process and partner with the best in class profressionals to make your journey acquiring eligible property and the visa as seamless and straightforward as possible. We have did this for many clients as a high percentage of our property is purchased for Golden Visa reasons. Please contact us to arrange an initial free consultation, for further information and next steps.

01. Who are MESPIL?back

MESPIL are bringing full service real estate investment opportunities and lifestyle destinations in Portugal to our end buyers, MESPIL focuses on property in the Algarve and Lisbon areas. MESPIL acquires off market distressed property offering value and uplift, an operational team on the ground and fast selling through our client direct channels and an established global agency network.

02. Who founded MESPIL?back

MESPIL was founded by Tom O’Connor and Andrew McAdam in 2006 in Dublin, Ireland. Tom O’Connor is MESPIL’s Managing Director responsible for the company’s strategic direction and operations whilst Andrew McAdam acts as Finance Director supporting strategy direction, funding mitigation and risk, company financials and statutory compliance. Today, MESPIL has evolved with the addition of a Chairperson, additional Board members and an Advisory Board plus an experienced leadership team several of whom are based full time in Portugal.

03. Where is MESPIL based?back

We are headquartered in Dublin, Ireland with an office in Algarve, Portugal. You can find our contact details here

04. Who makes up the MESPIL team?back

MESPIL is a team of professionals with significant experience in real estate, infrastructure, tax and finance. You can learn more about our Board and Leadership team here

05. How is MESPIL funded?back

MESPIL is funded by strategic investors on a project by project basis. In June 2017 we completed our first capital raise in Portugal purchasing Pine Hills, Vilamoura a 55-villa apartment development from Novo Banco with a combination of senior debt and equity from MESPIL’s Principals and an European private equity firm. Since then we have acquired a further 2 regeneration projects in Lisbon, Portugal using the same funding model. MESPIL is part investor in all of our projects ensuring your investment is ours too.

06. How many Portuguese projects have MESPIL completed?back

As of 2021 MESPIL have completed several projects in both the Algarve and Lisbon, please see our completed and available properties for sale in Portugal. The principals of MESPIL have collectively raised over 500M Euro that has been invested in real estate projects across Europe to date, 50M Euro of which are assets under management in Portugal.

07. What are the benefits of purchasing through MESPIL?back

MESPIL make it easy for property buyers to purchase quality real estate in the Algarve, and Lisbon. MESPIL make the process frictionless allowing you to screen all of our current projects and availability and have access to your MESPIL agent ensuring you have full support in the purchasing process and then visibility on your investment post sales.

08. How do I arrange a consultation with MESPIL?back

An initial real estate consultation with a MESPIL agent is the first step in your process to finding the right property investment or one that you will call home. This is an important part of the process, since we will be working to support you in the process from start to finish saving you the end buyer a lot of time and energy from having to research that information on their own. During the consultation, we will examine market conditions in the area of Portugal you are interested in, discuss which locations best appeal to you, review purchasing budgets, recommend legal, tax etc professionals and discuss any questions or concerns you may have.

To book a consultation whether in person or via teleconference or phone please get in touch with us.

09. What type of properties are available?back

MESPIL have a number of residential units in both Lisbon and several locations in the Algarve, from Studio to T3 Penthouse apartments, all Portugal Golden Visa eligible. Browse MESPIL’s current available properties for sale in Portugal.

10. What is the minimum duration of an inspection trip?back

MESPIL offer both private 1:1 inspection/orientation trips for clients and their families in addition to small group inspection trips for those clients that are travelling with an international sales agent. Most clients come between 1-3 days whereby viewings can take place, discussions with MESPIL’s team, and a number of other administration items such as opening up a bank account/organising a NIF number.

11. Is accommodation arranged or can this be done?back

MESPIL can organise accommodation in one of our developments subject to availability.

12. On the inspection trip will we see surrounding areas?back

Yes, your MESPIL agent will showcase all of the amenities and attractions that your preferred area has to offer. For eg: if you were interested in our project Pine Hills in Vilamoura our agent would show you the beaches, golf, marina, international school, shopping, casino etc.

13. On the inspection trip can I meet with a legal and tax advisor?back

Of course, MESPIL will recommend a list of professionals we partner with and will assist in arranging meetings at a suitable time during your inspection trip.

14. How is MESPIL’s approach different than its peers?back

MESPIL employs a different approach to investment – we acquire, develop and manage all of our real estate investment projects in Portugal as co-investors and believe this longer-term view is critical to the cyclicality of markets. Your investment is our investment too. We focus on quality investments in the right location over quantity and evaluate on a long-term strategy basis in building a yielding asset portfolio. To date we have not invested in a ground up development and instead we de-risk our investments by focusing on distressed assets that offer solid cash flow. We use a rigorous Ideal Project Parameter weighting matrix to scrutinise all potential projects and believe limiting what we invest in has been a primary driver of our investment results to date.

15. There will inevitably because of Covid-19 be a slowdown in travel through Europe and Portugal, what impact in sales or project development do you foresee?back

Although Covid-19 impacted the market it also resulted in an uplift in demand from Asia & the Middle East. In addition, purchasers are now completing sales online which is speeding up the closing process. In general, MESPIL believe that the demand for real estate will remain robust since Portugal remains a highly attractive proposition globally due to its Golden Visa program, it’s safety and its very high quality of life stats. The Covid-19 outbreak has been well managed by its government and as a result its citizens have showed relatively low exposure.

16. Who are MESPIL’s end buyers?back

MESPIL end buyers to date include HNWI’s relocating due to a favourable tax regime, real estate investors, retirees and those that are relocating to Portugal, many of which do so through the Golden Visa Programme. Our end buyers in order of nationality come from the UK, Germany, Belgium, Ireland, The Netherlands, Sweden, China, India and the UAE.

17. Why buy property in Portugal?back

  • The opportunity to own a home where there is sunshine 320 days of the year, one of the softest climates in Europe.
  • The cost of living in Portugal is one of the lowest in Europe
  • Portugal is a safe place to live with a high level of political stability and has won international awards to recognise same
  • It is a beautiful country with unspoiled nature and myriad of golden beaches
  • Portugal offers a very high quality of life
  • Portugal is far less densely populated than most other countries in western Europe with only 113 people per square kilometre
  • Portugal is ex-pat friendly and have won international awards recognising same
  • International Schools
  • Portugal is easily accessible from Europe, Africa, and the US
  • Public infrastructure such as healthcare and transportation high quality, widely available and accessible
  • Portugal is a golf haven with the Algarve alone offering over 30 different options
  • Property in Portugal’s south coast is one of the most popular luxury resorts; Algarve area is a firm favourite and provides solid and steady rental yield performance
  • The real estate market in Portugal is quietly booming offering strong capital appreciation
  • Very attractive tax incentives through the NHR scheme which was introduced in 2009 with the aim of attracting more people to the country by offering fantastic financial incentive in becoming resident.
  • Purchasing and keeping ownership of a property for at least five years can make you eligible for Portuguese citizenship.
  • A strong stable economy backed by EU investment ensures a strong and growing economy

18. Where to buy property in Portugal?back

  • Lisbon
    Lisbon is the capital city and the major economic hub of Portugal. It is a beautiful city filled with history and culture that has seen a dramatic rise in tourism, foreign direct investment, new business and ex-pats relocating. This makes it a perfect place to buy a property in Portugal, whether for commercial purposes or for living. A recent change in legislation means that properties in Lisbon will no longer be eligible for Golden Visa after July 2021.It is important to note that property prices in Lisbon have seen a sharp increase, however demand and rental yields are high.
  • Algarve
    Properties in the Algarve attract everyone from retirees to second homeowners and investors. It is one of the most popular holiday destinations in Portugal, known for its sunshine, stunning coastline, fresh seafood, top-class golfing, and innate natural beauty. Easily reachable by plane to and from the UK, it’s no surprise as to why there are so many English-speaking homeowners in this part of Portugal who own properties such as holiday homes, villas, and beach houses.

19. Financing a property in Portugal – Mortgage Info?back

There are a number of banks lending in Portugal all at very low favourable rates. Our recommendation is to use one of our agents that have relationships with all of the banks, ensuring the process is streamlined and they can get the best offer for your requirements. Please email us for more info or book one of our initial consultations so we can discuss.

Example of docs you will need to start compiling:

  • ID Card or Citizen Card
  • Duplicates of the last three payroll documents
  • Floor plan of the apartment or house in Portugal that you intend to buy
  • Documents about other incoming sources (if any)
  • Credit Report
  • Last Income Tax Return and its Notice of Settlement
  • Plan of the building
  • Bank Statements (in Portugal and Overseas)
  • Employment confirmation letter

The bank evaluates the property and determine the Loan-to-Value ratio. Once an offer has been made you will need to arrange life insurance as it is a legal requirement, again this is something that your Solicitor can arrange easily on your behalf.

You need a NIF number to apply for a mortgage

For a nominal fee your Solicitor will be able to arrange a NIF number for you, if you are not in the country this can be down through Power of Attorney and is a straight forward process.

What is a NIF number?

This is a tax registration number. A NIF number in Portugal is a nine-digit number unique to each individual. This number is on all correspondence between yourself and the Portuguese tax authority.

20. Do I need a lawyer when purchasing a property?back

Yes, we can recommend several excellent professionals to assist you.

21. How much deposit do I need to purchase a property?back

This is dependant on a number of factors such as age, deposit, loan to value etc. Our mortgage consultant partners can give preliminary figures during the initial consultation with you.

22. Will my personal details be secure?back

MESPIL is committed to protecting the privacy and confidentiality of our end buyers information. This includes but is not limited to physical and electronic procedures that protect information from loss, misuse, damage or modification by unauthorised access. Some of the central features of our security processes are:

  • Use of specialist software that scans for viruses and malicious content
  • Software that protects from DDoS and Brute-force attacks
  • A Web Application Firewall

MESPIL is following EU Data Protection Directives in order to protect the data of its investors and end buyers.

23. Does MESPIL run background checks on potential purchasers?back

Yes, MESPIL carry out a number of anti-money laundering checks with all potential purchasers through our legal team that will work with your legal representation.

24. How will end buyers be updated about their property purchase?back

You will work directly with an sales representative of MESPIL who will be your point of contact through the entire process. You will have both their email and mobile phone number and they will assist and support you as and when needed. Our team have processed over 100 sales in Portugal and worked with many clients from all over the world including those investing for investment purposes, those purchasing to acquire the Golden Visa and those relocating to retire.

25. What taxes/fees need to be paid when purchasing property in Portugal?back

  • IMI purchase tax (paid by the buyer after the deed, of which the cost varies);
  • Stamp Duty (paid by the buyer on signing the deed, of which the cost varies up to 0.8% of the cost of the property);
  • Lawyer fees (paid by the buyer, of which the cost varies);
  • Notary and Registration taxes (paid by the buyer after the deed, of which the value is €750.00 EUR);
  • Estate agent fees (paid by the seller, of which the value varies);
  • Property price (paid by the buyer on signing the deed, value minus any deposit already made).

26. After purchasing a property in Portugal, do I have any annual taxes?back

  • The IMT tax is a property purchase tax paid as a once off payment after the deed is executed and is calculated and charged by the local revenue office.
  • Every year it is obligatory to pay IMI property tax, this is a nominal payment and is a yearly tax set by the council the property is located in.

27. What rental contracts are offered through MESPIL?back

MESPIL offer a number of rental options on all of their projects whether you wish to give full access to your property or only a number of months, the choice is yours and you will be able to discuss options directly with your sales representative from MESPIL.

28. When are rental payments made by MESPIL to end buyers?back

MESPIL make quarterly rental payments to their end buyers signed to a rental contract.