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 purchasing process take place when buying an apartment 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 an apartment?

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 an apartment 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 apartments 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 an apartment 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.

Apartments for sale in Algarve, Portugal

Furnished apartment with a balcony in a renovated residence with swimming pools and golf courses, near the beach, Algarve, Portugal for 700,000 €

Furnished apartment with a balcony in a renovated residence with swimming pools and golf courses, near the beach, Algarve, Portugal

700,000 €

Total area 134 m²2 bedrooms2 bathrooms

134 m², 2 bedrooms, new home

Faro (city), Faro, Portugal

2 floor of 4

700,000 € 5,223 € per m²

Furnished one-bedroom apartment in a renovated residence with swimming pools, near the beach, Algarve, Portugal for 450,000 €

Furnished one-bedroom apartment in a renovated residence with swimming pools, near the beach, Algarve, Portugal

450,000 €

Total area 66 m²1 bedroom1 bathroom

66 m², 1 bedroom, new home

Faro (city), Faro, Portugal

1 floor of 4

450,000 € 6,818 € per m²

Golden Visa

Two comfortable apartments in one building in the city center with a yield of 5,3%, Agios Nikolaos subway station, Athens, Greece

250,000 €

Total area: 152 m² 5 bedrooms 2 bathrooms

Two-bedroom furnished apartment in a renovated residence with golf courses, swimming pools and lounge areas, Algarve, Portugal for 1,400,000 €

Two-bedroom furnished apartment in a renovated residence with golf courses, swimming pools and lounge areas, Algarve, Portugal

1,400,000 €

Total area 134 m²2 bedrooms2 bathrooms

134 m², 2 bedrooms, new home

Faro (city), Faro, Portugal

4 floor of 4

1,400,000 € 10,447 € per m²

Luxury furnished two-bedroom apartment with a sea view in a gated and renovated residence with golf courses, Algarve, Portugal for 760,000 €

Luxury furnished two-bedroom apartment with a sea view in a gated and renovated residence with golf courses, Algarve, Portugal

760,000 €

Total area 103 m²2 bedrooms2 bathrooms

103 m², 2 bedrooms, new home

Faro (city), Faro, Portugal

3 floor of 4

760,000 € 7,378 € per m²

Exquisite two-bedroom apartment with pool views in Faro, Algarve, Portugal for 495,000 €

With swimming pool

Exquisite two-bedroom apartment with pool views in Faro, Algarve, Portugal

495,000 €

Total area 179 m²2 bedrooms2 bathrooms

179 m², 2 bedrooms, apartment

Faro (city), Faro, Portugal

495,000 € 2,765 € per m²

Four-room apartment in a prestigious complex, Praia do Carvoeiro, Faro, Portugal for 375,000 €

With swimming pool

Four-room apartment in a prestigious complex, Praia do Carvoeiro, Faro, Portugal

375,000 €

3 bedrooms2 bathrooms

3 bedrooms, apartment

Carvoeiro, Faro, Portugal

2 floor of 2

375,000 €

Two-bedroom apartment with a terrace and a parking in a residential complex with two pools, Lagoa, Portugal for 295,000 €

With swimming pool

Two-bedroom apartment with a terrace and a parking in a residential complex with two pools, Lagoa, Portugal

295,000 €

Total area 118 m²2 bedrooms2 bathrooms

118 m², 2 bedrooms, apartment

Lagoa, Faro, Portugal

295,000 € 2,500 € per m²

New apartment with a terrace in a house with a garden, Cabanas de Tavira, Portugal for 235,000 €

New apartment with a terrace in a house with a garden, Cabanas de Tavira, Portugal

235,000 €

Total area 140 m²Land area: 140 m²2 bedrooms2 bathrooms

140 m², 2 bedrooms, apartment

Tavira, Faro, Portugal

235,000 € 1,678 € per m²

New apartment with a terrace in a house with a garden, Cabanas de Tavira, Portugal for 240,000 €

New apartment with a terrace in a house with a garden, Cabanas de Tavira, Portugal

240,000 €

Total area 146 m²Land area: 146 m²2 bedrooms2 bathrooms

146 m², 2 bedrooms, apartment

Tavira, Faro, Portugal

240,000 € 1,643 € per m²

Three-bedroom apartment with a rooftop terrace in Praia do Carvoeiro, Faro, Portugal for 425,000 €

Sea view

Three-bedroom apartment with a rooftop terrace in Praia do Carvoeiro, Faro, Portugal

425,000 €

Total area 142 m²3 bedrooms2 bathrooms

142 m², 3 bedrooms, apartment

Carvoeiro, Faro, Portugal

425,000 € 2,992 € per m²

Apartment – Portimao, Faro, Portugal for 275,000 €

With swimming pool

Apartment – Portimao, Faro, Portugal

275,000 €

Total area 86 m²Land area: 86 m²2 bedrooms2 bathrooms

86 m², 2 bedrooms, apartment

Portimao, Faro, Portugal

2 floor

275,000 € 3,197 € per m²

New apartment with a terrace in a residential complex with swimming pools and a gym, Lagos, Portugal for 395,000 €

With swimming pool

New apartment with a terrace in a residential complex with swimming pools and a gym, Lagos, Portugal

395,000 €

Total area 155 m²Land area: 155 m²2 bedrooms2 bathrooms

155 m², 2 bedrooms, apartment

Lagos, Faro, Portugal

3 floor

395,000 € 2,548 € per m²

Two-bedroom apartment in a new building with swimming pools and a gym, Lagos, Portugal for 390,000 €

With swimming pool

Two-bedroom apartment in a new building with swimming pools and a gym, Lagos, Portugal

390,000 €

Total area 160 m²Land area: 160 m²2 bedrooms2 bathrooms

160 m², 2 bedrooms, apartment

Lagos, Faro, Portugal

2 floor

390,000 € 2,437 € per m²

New apartment in a complex with swimming pools and a gym, Lagos, Portugal for 380,000 €

With swimming pool

New apartment in a complex with swimming pools and a gym, Lagos, Portugal

380,000 €

Total area 155 m²Land area: 155 m²2 bedrooms2 bathrooms

155 m², 2 bedrooms, apartment

Lagos, Faro, Portugal

2 floor

380,000 € 2,451 € per m²

Three-bedroom apartment with a balcony and a parking in a residential complex with a swimming pool, Lagos, Portugal for 325,000 €

With swimming pool

Three-bedroom apartment with a balcony and a parking in a residential complex with a swimming pool, Lagos, Portugal

325,000 €

Total area 124 m²3 bedrooms2 bathrooms

124 m², 3 bedrooms, apartment

Lagos, Faro, Portugal

325,000 € 2,620 € per m²

Spacious apartment with a parking, a terrace and sea and mountain views in a residential complex with a pool and a garden, Tavira, Portugal for 177,000 €

Spacious apartment with a parking, a terrace and sea and mountain views in a residential complex with a pool and a garden, Tavira, Portugal

177,000 €

Total area 52 m²Land area: 52 m²1 bedroom1 bathroom

52 m², 1 bedroom, new home

Tavira, Faro, Portugal

177,000 € 3,403 € per m²

Modern apartment with a balcony and a parking in a residential complex with a swimming pool, Lagos, Portugal for 310,000 €

With swimming pool

Modern apartment with a balcony and a parking in a residential complex with a swimming pool, Lagos, Portugal

310,000 €

Total area 128 m²3 bedrooms2 bathrooms

128 m², 3 bedrooms, apartment

Lagos, Faro, Portugal

310,000 € 2,421 € per m²

Sunny one-bedroom apartment 600 m from the beach, Praia do Carvoeiro, Faro, Portugal for 190,000 €

With swimming pool

Sunny one-bedroom apartment 600 m from the beach, Praia do Carvoeiro, Faro, Portugal

190,000 €

Total area 80 m²1 bedroom1 bathroom

80 m², 1 bedroom, apartment

Carvoeiro, Faro, Portugal

2 floor

190,000 € 2,375 € per m²

Spacious apartment with a parking, a terrace and sea and mountain views in a residential complex with a pool and a garden, Tavira, Portugal for 235,000 €

Spacious apartment with a parking, a terrace and sea and mountain views in a residential complex with a pool and a garden, Tavira, Portugal

235,000 €

Total area 75 m²Land area: 75 m²2 bedrooms2 bathrooms

75 m², 2 bedrooms, new home

Tavira, Faro, Portugal

235,000 € 3,133 € per m²

Three-bedroom apartment with a terrace in a residential complex with swimming pools and a gym, Lagos, Portugal for 480,000 €

With swimming pool

Three-bedroom apartment with a terrace in a residential complex with swimming pools and a gym, Lagos, Portugal

480,000 €

Total area 188 m²Land area: 188 m²3 bedrooms2 bathrooms

188 m², 3 bedrooms, apartment

Lagos, Faro, Portugal

3 floor

480,000 € 2,553 € per m²

Three-bedroom apartment in a new residential complex with swimming pools and a gym, Lagos, Portugal for 480,000 €

With swimming pool

Three-bedroom apartment in a new residential complex with swimming pools and a gym, Lagos, Portugal

480,000 €

Total area 187 m²Land area: 187 m²3 bedrooms2 bathrooms

187 m², 3 bedrooms, apartment

Lagos, Faro, Portugal

3 floor

480,000 € 2,566 € per m²

Modern apartment with a balcony and a parking in a residential complex with a swimming pool, Lagos, Portugal for 285,000 €

With swimming pool

Modern apartment with a balcony and a parking in a residential complex with a swimming pool, Lagos, Portugal

285,000 €

Total area 124 m²3 bedrooms2 bathrooms

124 m², 3 bedrooms, apartment

Lagos, Faro, Portugal

285,000 € 2,298 € per m²

Apartment – Portimao, Faro, Portugal for 180,000 €

Apartment – Portimao, Faro, Portugal

180,000 €

Total area 106 m²2 bedrooms1 bathroom

106 m², 2 bedrooms, apartment

Portimao, Faro, Portugal

180,000 € 1,698 € per m²

Stylish one-bedroom apartment near the beach, Faro, Portugal for 260,000 €

Stylish one-bedroom apartment near the beach, Faro, Portugal

260,000 €

Total area 90 m²1 bedroom1 bathroom

90 m², 1 bedroom, apartment

Faro (city), Faro, Portugal

260,000 € 2,888 € per m²

Two-bedroom apartment with sea views in Albufeira, Algarve, Portugal for 165,000 €

Sea view

Two-bedroom apartment with sea views in Albufeira, Algarve, Portugal

165,000 €

Total area 75 m²2 bedrooms1 bathroom

75 m², 2 bedrooms, apartment

Albufeira, Faro, Portugal

165,000 € 2,200 € per m²

Apartments for sale in Algarve

Discounted apartments and new-builds upon request

FAQ about Algarve