Can foreign nationals take out mortgage loans in Algarve?

Yes, non-residents can be issued a mortgage loan to buy property in Algarve. Special terms of mortgage lending for non-residents — the loan term up to 75 years of age for the eldest borrower and a down payment of 40–50%. The mortgage rate is a floating one, of 3% for residential properties and 5% for the commercial ones.

How does the property purchasing process take place in Algarve?

Before the purchase, it is necessary to hire a lawyer who would help you get the paperwork done. Having chosen the property, you need to open a local bank account and receive a tax identification number. First, a preliminary sales agreement is signed, a deposit equalling to 10–30% of the property value is placed, and the municipal taxes are paid. The deposit is non-refundable if the buyer decides not to purchase. All agreements ought to be notarised. Between signing the preliminary and main sales agreements, the lawyer completes the property Due Diligence and checks the availability of all the documents for the property. When signing the main agreement, the remaining transaction amount is paid, after which the property can be registered with the land registry office and a title deed can be obtained.

What property taxes are there in Portugal?

Property buyers pay a stamp duty (Imposto do Selo, IS) — 0,8% and a title deed transfer tax (Imposto Municipal sobre Transmissões, IMT) — 6,0 – 6,5%. After the purchase, an annual real estate tax (Imposto Municipal sobre os Imóveis, IMI) ranging from 0.3 to 0.8% across property types and municipalities, has to be paid. These three taxes — are everything that is paid by property owners. When selling real estate, non-resident owners pay the capital gain tax, chargeable from the difference between the purchase price and the sales price at a rate of 28%. The inheritance and gift taxes are not levied from spouses, children, parents and grandchildren, the other categories pay them at a rate of 10% (which is considered low).

How expensive are the utilities in Algarve?

The utility costs vary across locations. For example, an average bill for an 50–60 m² apartment totals about € 100-130 per month.

Can Portuguese residency be obtained through buying real estate?

Yes, there is a residency by investment or Golden Visa programme in Portugal. Those buying newly or relatively recently built properties for at least € 500,000 and properties built over 30 years ago for at least € 350,000 become eligible for residency.

How can a property buyer obtain Portuguese citizenship?

It is possible to apply for permanent residency after five years of residence in the country. After six years of residence it is possible to apply for citizenship. But these procedures are not interrelated. Holding a temporary residence or permanent residence permit does not lead to obtaining citizenship. Only following the rules of stay in the country (over 183 days per year for six years) can give hope for obtaining Portuguese citizenship.

Can foreign nationals lease real estate in Portugal?

Yes, of course. The owner's right to administer their property is not limited in any way.

What types of Portuguese property are better to invest in for rental purposes?

The most suitable for rental purposes are the flats and apartments located in the resort areas, such as the Algarve, Faro, Lagos, on the entire southern coast and the capital of the country, Lisbon.

Why do I need to own real estate in Portugal?

The Portuguese property market is one of the European real estate markets that have been growing most actively over the past few years. Therefore, real estate investments are very profitable in the country.

Property for sale in Algarve: 584 offers

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Share in a brand-new resort hotel in Algarve for a residence permit, Portugal

280,000 €

£236,000

Apartment for a residence permit with a guaranteed rental income of 4%, Faro, Portugal for 370,000 €

Apartment for a residence permit with a guaranteed rental income of 4%, Faro, Portugal

370,000 €

£312,000

Total area 77 m²2 bedrooms1 bathroomYield 4.0%

Residence by investment in 2022

Golden Visa for buying a share in a hotel in Lisbon, Portugal

350,000 € · Equity buy back in 6 years

Portugal’s state programme;
Eligible for citizenship in 5 years;
High return investment.

Apartments with ocean views in Albufeira, Faro, Portugal for From 415,000 €

Apartments with ocean views in Albufeira, Faro, Portugal

From 415,000 €

From £350,000

Built in 2020Total of 36 apartments

Residential complex

Two-bedroom apartment in a new complex near the ocean in Albufeira, Faro, Portugal for 415,000 €

Two-bedroom apartment in a new complex near the ocean in Albufeira, Faro, Portugal

415,000 €

£350,000

Total area 118 m²2 bedrooms2 bathrooms

Buy-to-let villa with a sea view, with a guaranteed yield of 3%, Algarve, Portugal for 800,000 €

Buy-to-let villa with a sea view, with a guaranteed yield of 3%, Algarve, Portugal

800,000 €

£675,000

Total area 184 m² / 1981 ft²Land area: 257 m² / 2766 ft²3 bedrooms3 bathrooms

Buy-to-let villa with a swimming pool, with a guaranteed yield of 3%, Algarve, Portugal for 500,000 €

Buy-to-let villa with a swimming pool, with a guaranteed yield of 3%, Algarve, Portugal

500,000 €

£422,000

Total area 176 m² / 1894 ft²Land area: 190 m² / 2045 ft²3 bedrooms3 bathrooms

Discounted properties upon request

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Comfortable apartment with a yield of 5%, Algarve, Portugal for 1,295,000 €

Comfortable apartment with a yield of 5%, Algarve, Portugal

1,295,000 €

£1,093,000

3 bedrooms3 bathroomsYield 5.0%

New apartment with a garden and a swimming pool, Loulé, Faro, Portugal for 750,000 €

New apartment with a garden and a swimming pool, Loulé, Faro, Portugal

750,000 €

£633,000

Total area 107 m²Land area: 46 m²1 bedroom

New four-room apartment with ocean views in Albufeira, Faro, Portugal for 575,000 €

New four-room apartment with ocean views in Albufeira, Faro, Portugal

575,000 €

£485,000

Total area 236 m²3 bedrooms3 bathrooms

Elite villa with a pool with a 5% yield, Algarve, Portugal for 4,500,000 €

Elite villa with a pool with a 5% yield, Algarve, Portugal

4,500,000 €

£3,797,000

Total area 486 m² / 5231 ft²4 bedrooms4 bathrooms

New villa with a pool and sea views in Lagos, Faro, Portugal for 2,300,000 €

New villa with a pool and sea views in Lagos, Faro, Portugal

2,300,000 €

£1,941,000

Land area: 731 m² / 7868 ft²5 bedrooms6 bathrooms

Buy-to-let apartments with a guaranteed yield of 5%, in a picturesque area, near the beaches, Algarve, Portugal for From 493,000 €

Buy-to-let apartments with a guaranteed yield of 5%, in a picturesque area, near the beaches, Algarve, Portugal

From 493,000 €

From £416,000

Built in 2022Total of 65 apartments

Residential complex

New villa with a swimming pool near golf courses and beaches, Almancil, Portugal for 1,250,000 €

New villa with a swimming pool near golf courses and beaches, Almancil, Portugal

1,250,000 €

£1,055,000

Total area 521 m² / 5608 ft²3 bedrooms4 bathrooms

Luxury villa with a swimming pool, a garden and lounge areas, Galé, Portugal for 3,500,000 €

Luxury villa with a swimming pool, a garden and lounge areas, Galé, Portugal

3,500,000 €

£2,953,000

Land area: 8860 m² / 95369 ft²4 bedrooms5 bathrooms

Villa plus annex with amazing sea views — near Loulé for 1,595,000 €

Villa plus annex with amazing sea views — near Loulé

1,595,000 €

£1,346,000

Total area 328 m² / 3531 ft²Land area: 2700 m² / 29063 ft²6 bathrooms

9 Bedroom villa, near beach, ideal B and B for 750,000 €

9 Bedroom villa, near beach, ideal B and B

750,000 €

£633,000

Total area 352 m² / 3789 ft²Land area: 2896 m² / 31173 ft²6 bathrooms

2+1 Traditional Villa
with Annexes for 240,000 €

2+1 Traditional Villa with Annexes

240,000 €

£203,000

Total area 381 m² / 4101 ft²Land area: 1887 m² / 20312 ft²2 bathrooms

8 Bed Farmhouse divided into 5 Cottages with sea view for 995,000 €

8 Bed Farmhouse divided into 5 Cottages with sea view

995,000 €

£840,000

Total area 334 m² / 3595 ft²Land area: 3230 m² / 34768 ft²6 bathrooms

3 Bed Townhouse — Vale Judeu for 550,000 €

3 Bed Townhouse — Vale Judeu

550,000 €

£464,000

Total area 150 m² / 1615 ft²Land area: 75 m² / 807 ft²2 bathrooms

3 Bed Country Villa

280,000 €

£236,000

Total area 207 m² / 2228 ft²Land area: 621 m² / 6684 ft²1 bathroom

6 Bed Villa, ideal for B & B — near S. Brás for 695,000 €

6 Bed Villa, ideal for B & B — near S. Brás

695,000 €

£586,000

Total area 196 m² / 2110 ft²Land area: 3496 m² / 37631 ft²5 bathrooms

Country villa with pool

350,000 €

£295,000

Total area 154 m² / 1658 ft²Land area: 1425 m² / 15339 ft²1 bathroom

3 weeks ago

3 Bed. Brand New Apartment

290,000 €

£245,000

Total area 100 m²3 bathrooms

3 weeks ago

3 Bed. Villa w/ Garage and Garden for 690,000 €

3 Bed. Villa w/ Garage and Garden

690,000 €

£582,000

Total area 242 m² / 2605 ft²Land area: 510 m² / 5490 ft²3 bathrooms

Modern apartment with sea views with a guaranteed yield of 5%, Algarve, Portugal for 1,000,000 €

Modern apartment with sea views with a guaranteed yield of 5%, Algarve, Portugal

1,000,000 €

£844,000

2 bedrooms2 bathroomsYield 5.0%

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