Can foreign nationals take out mortgage loans in Olhão?

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

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 Olhão?

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.

2 Bedroom Apartments for Sale in Olhão from 575,000 €

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2-bedroom apartment 92 m² in Olhão

Olhão, Faro, Portugal

650,000 €

Total area 92 m² · 2 bedrooms

2-bedroom apartment 127 m² in Olhão

Olhão, Faro, Portugal

725,000 €

Total area 127 m² · 2 bedrooms

2-bedroom apartment 139 m² in Olhão

Olhão, Faro, Portugal

1,290,000 €

Total area 139 m² · 2 bedrooms

2-bedroom apartment 92 m² in Olhão

Olhão, Faro, Portugal

685,000 €

Total area 92 m² · 2 bedrooms

2-bedroom apartment 92 m² in Olhão

Olhão, Faro, Portugal

670,000 €

Total area 92 m² · 2 bedrooms

2-bedroom apartment 83 m² in Olhão

Olhão, Faro, Portugal

675,000 €

Total area 83 m² · 2 bedrooms

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2-bedroom apartment 92 m² in Olhão

Olhão, Faro, Portugal

660,000 €

Total area 92 m² · 2 bedrooms

2-bedroom apartment 132 m² in Olhão

Olhão, Faro, Portugal

1,280,000 €

Total area 132 m² · 2 bedrooms

2-bedroom apartment 132 m² in Olhão

Olhão, Faro, Portugal

1,275,000 €

Total area 132 m² · 2 bedrooms

2-bedroom apartment 132 m² in Olhão

Olhão, Faro, Portugal

1,275,000 €

Total area 132 m² · 2 bedrooms

2-bedroom apartment 132 m² in Olhão

Olhão, Faro, Portugal

725,000 €

Total area 132 m² · 2 bedrooms

2-bedroom apartment 127 m² in Olhão

Olhão, Faro, Portugal

755,000 €

Total area 127 m² · 2 bedrooms

2-bedroom apartment 127 m² in Olhão

Olhão, Faro, Portugal

745,000 €

Total area 127 m² · 2 bedrooms

2-bedroom apartment 146 m² in Olhão

Olhão, Faro, Portugal

680,000 €

Total area 146 m² · 2 bedrooms

2-bedroom apartment 127 m² in Olhão

Olhão, Faro, Portugal

735,000 €

Total area 127 m² · 2 bedrooms

2-bedroom apartment 139 m² in Olhão

Olhão, Faro, Portugal

1,320,000 €

Total area 139 m² · 2 bedrooms

2-bedroom apartment 151 m² in Olhão

Olhão, Faro, Portugal

675,000 €

Total area 151 m² · 2 bedrooms

2-bedroom apartment 121 m² in Olhão

Olhão, Faro, Portugal

660,000 €

Total area 121 m² · 2 bedrooms

2-bedroom apartment 136 m² in Olhão

Olhão, Faro, Portugal

1,275,000 €

Total area 136 m² · 2 bedrooms

2-bedroom apartment 117 m² in Olhão

Olhão, Faro, Portugal

575,000 €

Total area 117 m² · 2 bedrooms

2-bedroom apartment 118 m² in Olhão

Olhão, Faro, Portugal

1,260,000 €

Total area 118 m² · 2 bedrooms

2-bedroom apartment 118 m² in Olhão

Olhão, Faro, Portugal

1,260,000 €

Total area 118 m² · 2 bedrooms

2-bedroom apartment 124 m² in Olhão

Olhão, Faro, Portugal

1,275,000 €

Total area 124 m² · 2 bedrooms

2-bedroom apartment 108 m² in Olhão

Olhão, Faro, Portugal

575,000 €

Total area 108 m² · 2 bedrooms

2-bedroom apartment 121 m² in Olhão

Olhão, Faro, Portugal

660,000 €

Total area 121 m² · 2 bedrooms

Similar facilities nearby

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%

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

2-bedroom apartment 277 m² in Quarteira

Quarteira, Faro, Portugal

1,900,000 €

Total area 277 m² · 2 bedrooms · 2 bathrooms

2-bedroom apartment 203 m² in Faro City

Faro City, Faro, Portugal

925,000 €

Total area 203 m² · 2 bedrooms · 3 bathrooms

2-bedroom apartment 200 m² in Faro City

Faro City, Faro, Portugal

925,000 €

Total area 200 m² · 2 bedrooms · 3 bathrooms

2-bedroom apartment 206 m² in Faro City

Faro City, Faro, Portugal

965,000 €

Total area 206 m² · 2 bedrooms · 3 bathrooms

2-bedroom apartment 195 m² in Faro City

Faro City, Faro, Portugal

915,000 €

Total area 195 m² · 2 bedrooms · 3 bathrooms

2-bedroom apartment 200 m² in Faro City

Faro City, Faro, Portugal

925,000 €

Total area 200 m² · 2 bedrooms · 3 bathrooms

2-bedroom apartment 195 m² in Faro City

Faro City, Faro, Portugal

895,000 €

Total area 195 m² · 2 bedrooms · 3 bathrooms