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 a house 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 house totals about € 100-130 per month.

Can Portuguese residency be obtained through buying a house?

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 house 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 houses 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 houses 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 a house 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.

1 Bedroom Homes for Sale in Algarve

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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 €

£714,000

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 €

£446,000

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

Portugal's «Golden Visa»

Share in pending hotel development in Algarve with buy-out in six years

280,000 € · 70% shares already sold out

Legal for Russian citizens;
Residence permits for investor's spouse and children;
Application for citizenship in five years.

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 €

£4,016,000

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 €

£2,053,000

Land area: 731 m² / 7868 ft²5 bedrooms6 bathrooms

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 €

£1,116,000

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 €

£3,124,000

Land area: 8860 m² / 95369 ft²4 bedrooms5 bathrooms

Discounted homes upon request

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Villa – Faro (city), Faro, Portugal for 2,295,000 €

Villa – Faro (city), Faro, Portugal

2,295,000 €

£2,048,000

Total area 850 m² / 9149 ft²Land area: 11320 m² / 121848 ft²9 bedrooms15 bathrooms

Villa – Albufeira, Faro, Portugal for 500,000 €

Villa – Albufeira, Faro, Portugal

500,000 €

£446,000

Total area 171 m² / 1841 ft²Land area: 250 m² / 2691 ft²3 bedrooms3 bathrooms

Villa – Faro, Portugal

3,400,000 €

£3,034,000

Total area 464 m² / 4994 ft²Land area: 2202 m² / 23702 ft²4 bedrooms4 bathrooms

Villa – São Brás de Alportel, Faro, Portugal for 1,250,000 €

Villa – São Brás de Alportel, Faro, Portugal

1,250,000 €

£1,116,000

Total area 246 m² / 2648 ft²Land area: 3293 m² / 35446 ft²4 bedrooms10 bathrooms

Villa – Albufeira, Faro, Portugal

500,000 €

£446,000

Total area 171 m² / 1841 ft²Land area: 250 m² / 2691 ft²2 bedrooms3 bathrooms

Villa – Vila do Bispo, Faro, Portugal for 800,000 €

Villa – Vila do Bispo, Faro, Portugal

800,000 €

£714,000

Total area 138 m² / 1485 ft²Land area: 257 m² / 2766 ft²3 bedrooms2 bathrooms

Villa – Vila do Bispo, Faro, Portugal for 600,000 €

Villa – Vila do Bispo, Faro, Portugal

600,000 €

£535,000

Total area 128 m² / 1378 ft²Land area: 194 m² / 2088 ft²2 bedrooms2 bathrooms

Villa – Santa Luzia, Faro, Portugal for 739,000 €

Villa – Santa Luzia, Faro, Portugal

739,000 €

£660,000

Total area 363 m² / 3907 ft²Land area: 363 m² / 3907 ft²3 bedrooms4 bathrooms

3 months ago

Villa – Albufeira, Faro, Portugal for 975,000 €

Villa – Albufeira, Faro, Portugal

975,000 €

£870,000

Total area 150 m² / 1615 ft²Land area: 321 m² / 3455 ft²3 bedrooms5 bathrooms

Villa – Albufeira, Faro, Portugal

975,000 €

£870,000

Total area 150 m² / 1615 ft²Land area: 321 m² / 3455 ft²3 bedrooms5 bathrooms

Villa – Albufeira, Faro, Portugal for 1,250,000 €

Villa – Albufeira, Faro, Portugal

1,250,000 €

£1,116,000

Total area 180 m² / 1938 ft²Land area: 470 m² / 5059 ft²4 bedrooms5 bathrooms

Villa – Tavira, Faro, Portugal for 750,000 €

Villa – Tavira, Faro, Portugal

750,000 €

£669,000

Total area 207 m² / 2228 ft²Land area: 284 m² / 3057 ft²3 bedrooms3 bathrooms

Villa – Olhos de Água, Faro, Portugal for 1,375,000 €

Villa – Olhos de Água, Faro, Portugal

1,375,000 €

£1,227,000

Total area 220 m² / 2368 ft²Land area: 226 m² / 2433 ft²2 bedrooms3 bathrooms

Villa – Boliqueime, Faro, Portugal for 1,250,000 €

Villa – Boliqueime, Faro, Portugal

1,250,000 €

£1,116,000

Total area 400 m² / 4306 ft²Land area: 2780 m² / 29924 ft²4 bedrooms5 bathrooms

Furnished villa with a swimming pool and a garden in a prestigious and picturesque area, Santo Estevão, Portugal for 1,000,000 €

Furnished villa with a swimming pool and a garden in a prestigious and picturesque area, Santo Estevão, Portugal

1,000,000 €

£892,000

Total area 720 m² / 7750 ft²Land area: 20000 m² / 215280 ft²4 bedrooms3 bathrooms

Two-storey furnished villa near the sea in Albufeira, Portugal for 1,380,000 €

Two-storey furnished villa near the sea in Albufeira, Portugal

1,380,000 €

£1,232,000

Total area 450 m² / 4844 ft²5 bedrooms7 bathrooms

Villa with a swimming pool in a residence with a golf course, Alcantarilha, Portugal for 1,500,000 €

Villa with a swimming pool in a residence with a golf course, Alcantarilha, Portugal

1,500,000 €

£1,339,000

4 bedrooms

Four-level villa with sea views and a pool in Loulé, Faro, Portugal for 890,000 €

Four-level villa with sea views and a pool in Loulé, Faro, Portugal

890,000 €

£794,000

Total area 690 m² / 7427 ft²4 bedrooms6 bathrooms

Three-storey villa with a pool and a garden in Portimao, Faro, Portugal for 795,000 €

Three-storey villa with a pool and a garden in Portimao, Faro, Portugal

795,000 €

£709,000

Land area: 1120 m² / 12056 ft²6 bedrooms5 bathrooms

Villa – Sagres, Faro, Portugal for 800,000 €

Villa – Sagres, Faro, Portugal

800,000 €

£714,000

Total area 128 m² / 1378 ft²Land area: 100 m² / 1076 ft²2 bedrooms2 bathrooms

Villa with a swimming pool and a playground, Castro Marin, Portugal for 375,000 €

Villa with a swimming pool and a playground, Castro Marin, Portugal

375,000 €

£335,000

Total area 100 m² / 1076 ft²2 bedrooms2 bathrooms

1 bedroom homes for sale in Algarve