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.

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.

273 Apartments for Sale in Algarve, Buy Flat from 314,000 €

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

Faro City, Faro, Portugal

1,295,000 €

3 bedrooms · 3 bathrooms · Yield 5.0%

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

Faro City, Faro, Portugal

1,000,000 €

2 bedrooms · 2 bathrooms · Yield 5.0%

With swimming pool

1-bedroom apartment 110 m² in Loule

Loule, Faro, Portugal

780,000 €

Total area 110 m² · 1 bedroom · 1 bathroom

Two-storey new apartment in a first-class complex, Lagos, Faro, Portugal

Lagos, Faro, Portugal

850,000 €

Total area 106 m² · 2 bedrooms · 2 bathrooms

Sea view

2-bedroom apartment 128 m² in Quarteira

Quarteira, Faro, Portugal

735,000 €

Total area 128 m² · 2 bedrooms · 2 bathrooms

With swimming pool

3-bedroom apartment 339 m² in Quarteira

Quarteira, Faro, Portugal

2,700,000 €

Total area 339 m² · 3 bedrooms · 3 bathrooms

Elvira Gracheva

Head of Sales Tranio Europe

Tranio Projects for Profitable Investments

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With swimming pool

3-bedroom apartment 216 m² in Quarteira

Quarteira, Faro, Portugal

1,700,000 €

Total area 216 m² · 3 bedrooms · 3 bathrooms

With swimming pool

3-bedroom apartment 371 m² in Quarteira

Quarteira, Faro, Portugal

2,700,000 €

Total area 371 m² · 3 bedrooms · 3 bathrooms

With swimming pool

2-bedroom apartment 277 m² in Quarteira

Quarteira, Faro, Portugal

1,900,000 €

Total area 277 m² · 2 bedrooms · 2 bathrooms

3-bedroom apartment 229 m² in Lagos

Lagos, Faro, Portugal

1,150,000 €

Total area 229 m² · 3 bedrooms · 3 bathrooms

2-bedroom apartment 180 m² in Lagos

Lagos, Faro, Portugal

895,000 €

Total area 180 m² · 2 bedrooms · 2 bathrooms

4-bedroom apartment 254 m² in Lagos

Lagos, Faro, Portugal

1,095,000 €

Total area 254 m² · 4 bedrooms · 4 bathrooms

3-bedroom apartment 190 m² in Lagos

Lagos, Faro, Portugal

950,000 €

Total area 190 m² · 3 bedrooms · 3 bathrooms

3-bedroom apartment 185 m² in Lagos

Lagos, Faro, Portugal

795,000 €

Total area 185 m² · 3 bedrooms · 3 bathrooms

3-bedroom apartment 230 m² in Lagos

Lagos, Faro, Portugal

1,150,000 €

Total area 230 m² · 3 bedrooms · 3 bathrooms

3-bedroom apartment 201 m² in Lagos

Lagos, Faro, Portugal

950,000 €

Total area 201 m² · 3 bedrooms · 3 bathrooms

3-bedroom apartment 195 m² in Lagos

Lagos, Faro, Portugal

950,000 €

Total area 195 m² · 3 bedrooms · 3 bathrooms

3-bedroom apartment 242 m² in Lagos

Lagos, Faro, Portugal

1,150,000 €

Total area 242 m² · 3 bedrooms · 3 bathrooms

3-bedroom apartment 191 m² in Lagos

Lagos, Faro, Portugal

795,000 €

Total area 191 m² · 3 bedrooms · 3 bathrooms

3-bedroom apartment 188 m² in Lagos

Lagos, Faro, Portugal

950,000 €

Total area 188 m² · 3 bedrooms · 3 bathrooms

3-bedroom apartment 238 m² in Lagos

Lagos, Faro, Portugal

1,150,000 €

Total area 238 m² · 3 bedrooms · 3 bathrooms

4-bedroom apartment 247 m² in Lagos

Lagos, Faro, Portugal

990,000 €

Total area 247 m² · 4 bedrooms · 4 bathrooms

4-bedroom apartment 254 m² in Lagos

Lagos, Faro, Portugal

795,000 €

Total area 254 m² · 4 bedrooms · 4 bathrooms

3-bedroom apartment 184 m² in Lagos

Lagos, Faro, Portugal

795,000 €

Total area 184 m² · 3 bedrooms · 3 bathrooms

3-bedroom apartment 183 m² in Lagos

Lagos, Faro, Portugal

795,000 €

Total area 183 m² · 3 bedrooms · 3 bathrooms

…

1-25 of 273 listings, page 1 of 11

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Apartments for sale in Algarve

Algarve is a wealthy region in Portugal

Algarve attracts golfers from all over Europe

Prices for apartments in Algarve start from €90,000