Can foreign nationals take out mortgage loans in Funchal?

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

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 Funchal?

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 Funchal from 470,000 €

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2-bedroom apartment 163 m² in Funchal

Funchal, Madeira, Portugal

630,000 €

Total area 163 m² · 2 bedrooms · 2 bathrooms

Residential complex

Residential complex with swimming pools, a garden, and a gym, Funchal, Portugal

São Martinho, Funchal, Madeira, Portugal

From 580,000 €

Total 112 units available from the developer

Built in 2022

2 bedrooms from 580,000 €

3 bedrooms from 650,000 €

4 bedrooms from 1,480,000 €

2-bedroom apartment 112 m² in Funchal

Funchal, Madeira, Portugal

470,000 €

Total area 112 m² · 2 bedrooms · 3 bathrooms

2-bedroom apartment 160 m² in Funchal

Funchal, Madeira, Portugal

550,000 €

Total area 160 m² · 2 bedrooms · 3 bathrooms

2-bedroom apartment 112 m² in Funchal

Funchal, Madeira, Portugal

480,000 €

Total area 112 m² · 2 bedrooms · 3 bathrooms

2-bedroom apartment 108 m² in Funchal

Funchal, Madeira, Portugal

470,000 €

Total area 108 m² · 2 bedrooms · 3 bathrooms

Elvira Gracheva

Head of Sales Tranio Europe

Tranio Projects for Profitable Investments

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2-bedroom apartment 136 m² in Lisbon

Lisbon, Portugal

830,000 €

Total area 136 m² · 2 bedrooms · 2 bathrooms

With swimming pool

2-bedroom apartment 116 m² in Lisbon

Lisbon, Portugal

810,000 €

Total area 116 m² · 2 bedrooms · 3 bathrooms

With swimming pool

2-bedroom apartment 254 m² in Lisbon

Lisbon, Portugal

895,000 €

Total area 254 m² · 2 bedrooms · 3 bathrooms

Residential complex

New condominium with good amenities between the sea and the mountains in Cascais, Portugal

Cascais, Lisbon, Portugal

From 1,000,000 €

Total 60 units available from the developer

Completion in: 2027.II

2 bedrooms from 1,000,000 €

3 bedrooms from 1,130,000 €

Residential complex

Apartments in a renovated historical building, central Lisbon, Portugal

Lisbon, Portugal

From 660,000 €

Total 12 units available from the developer

Built in 2026

1 bedroom from 660,000 €

2 bedrooms from 930,000 €

Residential complex

Premier new residential complex in the center of Cascais, Portugal

Cascais, Lisbon, Portugal

From 2,285,000 €

Total 30 units available from the developer

Completion in: 2027.I

2 bedrooms from 2,285,000 €

Residential complex

Exclusive residential complex on the banks of the Tagus River, Lisbon, Portugal

Lisbon, Portugal

From 650,000 €

Total 214 units available from the developer

Built in 2025

1 bedroom from 650,000 €

2 bedrooms from 800,000 €

3 bedrooms from 1,600,000 €

4 bedrooms from 1,650,000 €

5 bedrooms from 4,750,000 €

Residential complex

New apartments in a complex with a swimming pool and spa, Lisbon, Portugal

Lisbon, Portugal

From 770,000 €

Total 63 units available from the developer

Completion in: 2027.I

2 bedrooms from 770,000 €

3 bedrooms from 980,000 €

Spacious apartment in a new residence with a garden and a swimming pool, in the historic center of Porto, Portugal

Porto (city), Porto, Portugal

550,000 €

Total area 179 m² · 2 bedrooms

Residential complex

Fully equipped new apartments in Lisbon, Portugal

Lisbon, Portugal

From 500,000 €

Total 17 units available from the developer

1 bedroom from 500,000 €

2 bedrooms from 698,000 €

Residential complex

Buy-to-let apartments with a swimming pool and view of the Tagus river, Alcochete, Setubal, Portugal

Alcochete Municipality, Setubal, Portugal

From 500,000 €

Total 60 units available from the developer

Built in 2019

2 bedrooms from 500,000 €

Sea view

2-bedroom apartment 116 m² in Grândola

Grândola, Setubal, Portugal

950,000 €

Total area 116 m² · 2 bedrooms · 1 bathroom

Sea view

2-bedroom apartment 179 m² in Grândola

Grândola, Setubal, Portugal

950,000 €

Total area 179 m² · 2 bedrooms · 1 bathroom

Sea view

2-bedroom apartment 118 m² in Grândola

Grândola, Setubal, Portugal

900,000 €

Total area 118 m² · 2 bedrooms · 1 bathroom

Sea view

2-bedroom apartment 116 m² in Grândola

Grândola, Setubal, Portugal

900,000 €

Total area 116 m² · 2 bedrooms

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%

Residential complex

Apartments overlooking the Tagus River in a new complex, Belen, Lisbon, Portugal

Lisbon, Portugal

From 630,000 €

Total 150 units available from the developer

Built in 2022

1 bedroom from 630,000 €

2 bedrooms from 720,000 €

3 bedrooms from 1,750,000 €

Residential complex

Luxury residence with swimming pools and a club in a popular area, Nazaré, Portugal

Nazaré, Leiria, Portugal

From 197,000 €

Total 36 units available from the developer

Built in 2026

1 bedroom from 197,000 €

2 bedrooms from 287,000 €

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

Bright apartment in a new complex with 2 swimming pools, Lisbon, Portugal

Lisbon, Portugal

770,000 €

Total area 92 m² · 2 bedrooms · 2 bathrooms

With swimming pool

Spacious apartment with a balcony in a new complex with a gym, Lisbon, Portugal

Lisbon, Portugal

825,000 €

Total area 108 m² · 2 bedrooms · 2 bathrooms

2-bedroom apartment 207 m² in Vila Nova de Gaia

Vila Nova de Gaia, Porto, Portugal

605,000 €

Total area 207 m² · 2 bedrooms · 2 bathrooms

2-bedroom apartment 48 m² in Vila Nova de Gaia

Vila Nova de Gaia, Porto, Portugal

310,000 €

Total area 48 m² · 2 bedrooms · 2 bathrooms

2-bedroom apartment 118 m² in Vila Nova de Gaia

Vila Nova de Gaia, Porto, Portugal

450,000 €

Total area 118 m² · 2 bedrooms · 2 bathrooms

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2 bedroom apartments for sale in Funchal