Can foreign nationals take out mortgage loans in Faro City?

Yes, non-residents can be issued a mortgage loan to buy property in Faro City. 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 Faro City?

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 Faro City?

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 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 Faro City, Buy Real Estate from 220,000€

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Residential complex with swimming pools, surrounded by hills, Algarve, Portugal for From 280,000 €

Residential complex with swimming pools, surrounded by hills, Algarve, Portugal

From 280,000 €

From £237,000

Total of 33 apartments

Residential complex

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 €

£1,096,000

3 bedrooms3 bathroomsYield 5.0%

3% discount on apartments

Investment apartments in The Community at 9% per annum in the heart of the Motor City area, Dubai

From 167,000 €

Completion in: 2025 Yield: 9.0% Apartments in total: 450

Residential complex

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 €

£3,807,000

Total area 486 m²4 bedrooms4 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 €

£846,000

2 bedrooms2 bathroomsYield 5.0%

Plot + Approved Project for two villas for 375,000 €

Plot + Approved Project for two villas

375,000 €

£317,000

Land area: 1,347 m²

Tourist apartments with a yield of 4% in a new apart-hotel, Algarve, Portugal for 220,000 €

Tourist apartments with a yield of 4% in a new apart-hotel, Algarve, Portugal

220,000 €

£186,000

Total area 81 m²1 bedroomYield 4.0%

Discounted properties upon request

Send us an enquiry, we will find advantageous offers for you

Send a discount enquiry

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Client manager

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Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal for 390,000 €

With swimming pool

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal

390,000 €

£330,000

Total area 96 m²

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal for 400,000 €

With swimming pool

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal

400,000 €

£338,000

Total area 96 m²

With swimming pool

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal

400,000 €

£338,000

Total area 95 m²

With swimming pool

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal

400,000 €

£338,000

Total area 95 m²

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal for 410,000 €

With swimming pool

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal

410,000 €

£347,000

Total area 95 m²

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal for 380,000 €

With swimming pool

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal

380,000 €

£321,000

Total area 90 m²

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal for 370,000 €

With swimming pool

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal

370,000 €

£313,000

Total area 72 m²

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal for 350,000 €

With swimming pool

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal

350,000 €

£296,000

Total area 72 m²

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal for 670,000 €

With swimming pool

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal

670,000 €

£567,000

Total area 121 m²

New apartment in a modern complex with a swimming pool and a fitness center, Faro, Portugal for 690,000 €

With swimming pool

New apartment in a modern complex with a swimming pool and a fitness center, Faro, Portugal

690,000 €

£584,000

Total area 127 m²

New apartment in a modern complex with a swimming pool and a fitness center, Faro, Portugal for 710,000 €

With swimming pool

New apartment in a modern complex with a swimming pool and a fitness center, Faro, Portugal

710,000 €

£601,000

Total area 127 m²

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal for 650,000 €

With swimming pool

Apartment in a new complex with a swimming pool in a prestigious area, Faro, Portugal

650,000 €

£550,000

Total area 121 m²

With swimming pool

New apartment in a modern complex with a swimming pool and a fitness center, Faro, Portugal

690,000 €

£584,000

Total area 127 m²

Elite apartment with a jacuzzi in a residence with a pool, Faro, Portugal for 410,000 €

With swimming pool

Elite apartment with a jacuzzi in a residence with a pool, Faro, Portugal

410,000 €

£347,000

Total area 116 m²

Modern apartment in a residential complex with a swimming pool, Faro, Portugal for 1,250,000 €

With swimming pool

Modern apartment in a residential complex with a swimming pool, Faro, Portugal

1,250,000 €

£1,057,000

Total area 128 m²

Modern apartment in a residential complex with a swimming pool, Faro, Portugal for 680,000 €

With swimming pool

Modern apartment in a residential complex with a swimming pool, Faro, Portugal

680,000 €

£575,000

Total area 127 m²

Modern apartment in a residential complex with a swimming pool, Faro, Portugal for 670,000 €

With swimming pool

Modern apartment in a residential complex with a swimming pool, Faro, Portugal

670,000 €

£567,000

Total area 127 m²

With swimming pool

New apartment in a modern complex with a swimming pool and a fitness center, Faro, Portugal

690,000 €

£584,000

Total area 127 m²

New apartment in a modern complex with a swimming pool and a fitness center, Faro, Portugal for 680,000 €

With swimming pool

New apartment in a modern complex with a swimming pool and a fitness center, Faro, Portugal

680,000 €

£575,000

Total area 127 m²

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First and foremost Tranio is a very motivated team of professionals who surely know their job! We are very pleased with their well-coordinated work, timeliness of responses to the questions posed, and willingness to act in case of unusual situations.
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Coldwell Banker
It is with much enthusiasm that I personally recommend Tranio for a professional business collaboration in the ﬁeld of real estate, marketing, acquisition, and ﬁnance. The fundamentals of our business relationship with Tranio were set in 2016. Mundial AG has received the company’s great reputation throughout a number of international business pai’tners and stockholders. Tranio has helped our company to expand its horizons to the global market and has established benchmarks that would extend Mundial AG’s networks. The company has exceptional connections to potential investors and has a proﬁcient team that is capable of forming compound ﬁnancial models that attract ﬁnanciers. The cooperation with Tranio is based on professionalism, effectiveness, and Hypovﬂemsbank scrupulousness. Our experiences with Tranio are encouraging and progressive, which makes them one of our preeminent business paitners.
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Z. Farkas, Mundial AG
We are glad to have a partnership with Tranio! It offers a vast online property base and the best services.

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