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Are you considering buying property in the Algarve, Portugal? Our expert team have answered some of the most frequently asked questions when buying property in the Algarve, Portugal.
From searching for your ideal property in Portugal and visiting the area, to getting your financial affairs in order and speaking to a legal team regarding the required documentation and processes, buying property in Portugal is a fairly straightforward process. Read our expert Buying Property in Portugal Guide to help you along the way.
Yes, you can get a mortgage to buy property in Portugal. There are no restrictions for non-EU residents who wish to obtain a mortgage, with many Portuguese banks happy to offer up to 70-80% loan-to-value, with fixed or variable rate repayment options.
Depending on your financial circumstances, there are a number of viable options for financing your property purchase in Portugal. Alongside determining how much you’ll be willing to spend, you may also consider avenues such as re-mortgaging your existing property at historically low interest rates, withdrawing funds from low-performing investments, drawing down on your pension and obtaining a mortgage in Portugal.
Yes, now is a good time to buy property in Portugal for a number of reasons. Prices of property, particularly in the Algarve, have risen, meaning buying now will likely prove profitable in the future. Low interest rates on mortgages is another desirable factor to invest in the sunny country.
Although Portugal is not a complete tax haven, there are favourable tax benefits that expatriates can benefit from.
If you meet the criteria for gaining residency in Portugal, it can be a straightforward process. After five years, you will have the option to apply for permanent residency and after 10 years, make an application for citizenship.
Methods through which to gain temporary residency include through investment including real estate, work, family reunification, study, retirement or marriage. If you are citizens of the EU and the European Economic Area (EEA), as well as Swiss nationals, you do not require a residency visa to live in Portugal.
With residency in Portugal, you’ll benefit from the following:
The apartments at Quinta Heights are part-furnished with all featuring high-quality units, appliances, and fixtures. A contemporary furniture pack is also available to purchase separately, featuring a range of stylish products custom selected to integrate seamlessly into the existing space, from modern sofas to storage and statement dining furniture.
Prices start from €513,000 for a one bedroom apartment, €883,000 for a two bedroom, €1,149,000 for a three bedroom and €1,490,000 for a four bedroom apartment.
Quinta Heights’ apartments are located immediately adjacent to the resort’s facilities, including an on-site restaurant, spa, gym, sports facilities and landscaped gardens.
Each apartment building benefits from its own exclusive-use swimming pool. Owners and residents can also make use of the on-site facilities of the resort, including indoor and outdoor pools.
Ferragudo is located just over 3km away from Quinta Heights. It is easily accessible in six minutes by car, a 30 minute walk or 10 minute cycle.
Praia dos Caneiros is located just under 2km away from Quinta Heights. It is easily accessible in five minutes by car, a 22 minute walk or 7 minute cycle.
Laidback and relaxing lifestyles abound when you live in the Central Algarve. Expect close to 300 days of sun every year with a blend of amazing beaches, outdoor activities like paddleboarding and kayaking, a blend between traditional culture and expat communities, as well as affordable living when compared to other European countries.
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