Can foreign nationals take out mortgage loans in Lagos?

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

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 Lagos?

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 Lagos, Portugal - Buy real estate in Lagos

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Apartments with views of the river and the Atlantic Ocean, Lagos, Portugal for From 400,000 €

Apartments with views of the river and the Atlantic Ocean, Lagos, Portugal

From 400,000 €

From £334,000

Built in 2022Total of 12 apartments

Residential complex

Apartments near the beach, with a guaranteed yield of 7%, Lagos, Portugal for From 169,000 €

Apartments near the beach, with a guaranteed yield of 7%, Lagos, Portugal

From 169,000 €

From £141,000

Built in 2023Total of 279 apartments

Residential complex

3% discount on apartments

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

From 160,000 €

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

Residential complex

Two-storey new apartment in a first-class complex, Lagos, Faro, Portugal for 725,000 €

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

725,000 €

£605,000

Total area 149 m²3 bedrooms3 bathrooms

Two-bedroom apartment in a new exclusive complex, Lagos, Faro, Portugal for 575,000 €

Two-bedroom apartment in a new exclusive complex, Lagos, Faro, Portugal

575,000 €

£480,000

Total area 119 m²2 bedrooms2 bathrooms

Furnished two-bedroom apartment near the beach in Lagos, Faro, Portugal for 420,000 €

With swimming pool

Furnished two-bedroom apartment near the beach in Lagos, Faro, Portugal

420,000 €

£350,000

Total area 114 m²Land area: 114 m²2 bedrooms2 bathrooms

Sunny two-bedroom apartment with panoramic views in Lagos, Faro, Portugal for 410,000 €

With swimming pool

Sunny two-bedroom apartment with panoramic views in Lagos, Faro, Portugal

410,000 €

£342,000

Total area 116 m²2 bedrooms2 bathrooms

Discounted properties upon request

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

Send a discount enquiry

Ksenia Kolesnikova,

Client manager

We find off-market properties
We organise viewings
We assist in obtaining a mortgage

Luxurious Residence in Lagos: A Refuge with Stunning Views and Cutting-Edge Technology for 2,400,000 €

Luxurious Residence in Lagos: A Refuge with Stunning Views and Cutting-Edge Technology

2,400,000 €

£2,003,000

Total area 300 m²Land area: 574 m²4 bedrooms3 bathrooms

1 month ago

Luxurious Residence in Lagos: A Refuge with Stunning Views and Cutting-Edge Technology

2,400,000 €

£2,003,000

Total area 300 m²Land area: 574 m²4 bedrooms3 bathrooms

1 month ago

Luxurious Residence in Lagos: A Refuge with Stunning Views and Cutting-Edge Technology

2,400,000 €

£2,003,000

Total area 300 m²Land area: 639 m²4 bedrooms3 bathrooms

1 month ago

Luxurious Residence in Lagos: A Refuge with Stunning Views and Cutting-Edge Technology

2,400,000 €

£2,003,000

Total area 300 m²Land area: 568 m²4 bedrooms3 bathrooms

1 month ago

Luxurious Residence in Lagos: A Refuge with Stunning Views and Cutting-Edge Technology

2,400,000 €

£2,003,000

Total area 300 m²Land area: 642 m²4 bedrooms3 bathrooms

1 month ago

Two-bedroom apartment near the sea in Lagos, Faro, Portugal for 410,000 €

With swimming pool

Two-bedroom apartment near the sea in Lagos, Faro, Portugal

410,000 €

£342,000

Total area 114 m²2 bedrooms2 bathrooms

Luxurious Residence in Lagos: A Refuge with Stunning Views and Cutting-Edge Technology

2,400,000 €

£2,003,000

Total area 300 m²Land area: 568 m²4 bedrooms3 bathrooms

1 month ago

Luxurious Residence in Lagos: A Refuge with Stunning Views and Cutting-Edge Technology

2,400,000 €

£2,003,000

Total area 300 m²Land area: 605 m²4 bedrooms3 bathrooms

1 month ago

Luxurious Residence in Lagos: A Refuge with Stunning Views and Cutting-Edge Technology

2,400,000 €

£2,003,000

Total area 300 m²Land area: 577 m²4 bedrooms3 bathrooms

1 month ago

New four-room apartment in the center of Lagos, Faro, Portugal for 1,150,000 €

New four-room apartment in the center of Lagos, Faro, Portugal

1,150,000 €

£960,000

Total area 217 m²3 bedrooms3 bathrooms

Two-bedroom apartment in a new complex, center of Lagos, Faro, Portugal for 650,000 €

Two-bedroom apartment in a new complex, center of Lagos, Faro, Portugal

650,000 €

£542,000

Total area 145 m²2 bedrooms2 bathrooms

Five-room apartment in a new complex by the sea, Lagos, Faro, Portugal for 795,000 €

Five-room apartment in a new complex by the sea, Lagos, Faro, Portugal

795,000 €

£663,000

Total area 254 m²4 bedrooms4 bathrooms

Four-room apartment in a new complex, center of Lagos, Faro, Portugal for 625,000 €

Four-room apartment in a new complex, center of Lagos, Faro, Portugal

625,000 €

£522,000

Total area 188 m²3 bedrooms3 bathrooms

New three-bedroom apartment in a complex near the center and the sea, Lagos, Faro, Portugal for 795,000 €

New three-bedroom apartment in a complex near the center and the sea, Lagos, Faro, Portugal

795,000 €

£663,000

Total area 184 m²3 bedrooms3 bathrooms

Four-room apartment in a new complex near the port, Lagos, Faro, Portugal for 795,000 €

Four-room apartment in a new complex near the port, Lagos, Faro, Portugal

795,000 €

£663,000

Total area 183 m²3 bedrooms3 bathrooms

Four-room new apartment in a complex near the beach, Lagos, Faro, Portugal for 950,000 €

Four-room new apartment in a complex near the beach, Lagos, Faro, Portugal

950,000 €

£793,000

Total area 188 m²3 bedrooms3 bathrooms

New four-room apartment with a sea view, Lagos, Faro, Portugal for 1,150,000 €

New four-room apartment with a sea view, Lagos, Faro, Portugal

1,150,000 €

£960,000

Total area 220 m²3 bedrooms3 bathrooms

Four-room apartment with sea views in a new complex, Lagos, Faro, Portugal for 1,150,000 €

Four-room apartment with sea views in a new complex, Lagos, Faro, Portugal

1,150,000 €

£960,000

Total area 225 m²3 bedrooms3 bathrooms

Three-bedroom apartment in a new house, Lagos, Faro, Portugal for 795,000 €

Three-bedroom apartment in a new house, Lagos, Faro, Portugal

795,000 €

£663,000

Total area 189 m²3 bedrooms3 bathrooms

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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
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