Luxury real estate in Portugal: more and more owners are paying AIMI.

In 2022, the state collected 144.08 million euros in fees from AIMI, the lowest value since 2017. Buying houses and other luxury properties is not for everyone's wallets. In addition to high prices, families also have to pay more taxes such as the Additional Municipal Property Tax (AIMI). This tax is levied on those who have acquired real estate worth more than one million euros, including houses, building land and inherited shares. And it is true that 84,396 owners were required to pay AIMI in 2022, the highest number since the tax was introduced in 2017. However, collections under this tax are the lowest ever.

Data from HM Revenue and Customs (AT) also shows that AIMI will affect 551,291 buildings in 2022, down 0.56% from the previous year.

In addition, the same data from Finance indicates that the majority of owners who paid this tax in 2022 - as in previous years - were legal entities (companies), accounting for 83% of the total. And the value of property owned by companies rose slightly to 27.664 billion euros, with an AIMI payment of 113.26 million euros (+0.06% year-on-year).

The 13,992 private owners who had to pay AIMI in 2022 (168 more than the previous year) were also taken into account. And the value of their properties amounted to less than €3.4 billion (-0.16% year-on-year). Revenue from this tax amounted to 30.82 million euros (-0.33%).

In 2022, the state collected 144.08 million euros from the AIMI levy, which goes to the Social Security coffers. But this was the lowest value recorded since the creation of this tax in 2017 (when, incidentally, the highest amount of €154 million was levied). During this time, some 886 million euros were paid in Portugal under AIMI.