Financing
As far as bank financing is concerned, residency is an important factor. Portuguese nationality is irrelevant, when banking locally. Ask us more about it.
Documentation
We support, free of any charge, you or your solicitor during the whole transaction and respective documentation including contracting mains, telephone / internet and so on.
Solicitor assistance at property transactions is recommended although not obligatory.
Health
Luzdoc - International Medical Service
Partnerships
To support buying, selling, construction, refurbishing or decoration we have de following partnerships:
Legal advice - Laywer - Drª Maria Paula Lopes
Fiscal advice - Accountant - Drª Yolanda Veiga
Architect - LACOPLANO - Arqª Sónia Costa, Arq. António Alexandre
Construction or refurbishing - CONSTRUALAGOAS - António Duarte
Decoration
Lightning (interior and exterior)
Garden and swimmingpool construction and maintenance - NATUR JARDINS - Pedro Seromenho
Rent-a-car
Accommodation - Hotel Praia do Burgau
Ask us by email Discount Voucher of 10%. Valid to all visitors of our website. Thank you for the visit.
Notary
Title Deed Cost - 0.08% of the house price added with aprox. 200 Euros Notary Fee
Property Register
Register Cost - 250 Euros
Taxes
To define some tax levels or exemptions, again, relevant is the fact of if you are or become resident. Portuguese nationality is irrelevant to own property.
Buying Tax - IMT
2008 Pratical Tables
First home
| House Price | Percentage |
| Up to 87.500 | 0% |
| From 87.501 up to 119.700 | From 0.01 up to 0.53% |
| From 119.701 up to 163.200 | From 0.54 up to 1.73% |
| From 163.201 up to 272.000 | From 1.74 up to 3.83% |
| From 272.001 up to 543.900 | From 3.84 up to 5.99% |
| More than 543.901 | 6% |
Second home
| House Price | Percentage |
| Up to 87.500 | 1% |
| From 87.501 up to 119.700 | From 1.01 up to 1.27% |
| From 119.701 up to 163.200 | From 1.28 up to 2.26% |
| From 163.200 up to 272.000 | From 2.27 up to 4.16% |
| From 272.000 up to 521.700 | From 4.17 up to 5.99% |
| More than 521.701 | 6% |
Owning Tax - IMI
Is defined every year by each City Council from 0.2 to 0.8% of the Tax Office Valuation (Patrimonial Tributary Value) of the property. This Tax Valuation is done by the Tax Office with a specific formula. IMI Tax, if the amount is under 250 euro, it is paid in April. When IMI Tax amount is higher than 250 euro, it is half paid in April and the remaining half in September. IMI can be paid at any Tax Office, any Post Office, some banks, via ATM's and home banking.
Under you can check, how much the percentage is in 2007. The left side row shows percentages for properties, from 12/11/2003, that Tax Valuation has been done with the new formula. The right side row shows the percentage for properties that have not yet been evaluated according with the new formula.
| Council | According new law from 12/11/2003 | According old law |
| ALBUFEIRA | 0.47% | 0.70% |
| ALCOUTIM | 0.50% | 0.80% |
| ALJEZUR | 0.40% | 0.70% |
| CASTRO MARIM | 0.50% | 0.80% |
| FARO | 0.40% | 0.60% |
| LAGOA | 0.43% | 0.70% |
| LAGOS | 0.35% | 0.75% |
| LOULÈ | 0.43% | 0.70% |
| MONCHIQUE | 0.50% | 0.80% |
| OLHÃO | 0.50% | 0.80% |
| PORTIMÃO | 0.50% | 0.80% |
| S. BRÁS DE ALPORTEL | 0.50% | 0.80% |
| SILVES | 0.45% | 0.80% |
| TAVIRA | 0.50% | 0.80% |
| VILA DO BISPO | 0.30% | 0.60% |
| VILA REAL DE S. ANTÓNIO | 0.40% | 0.70% |
IMI temporary exemption
If you are or become resident and the property is meant for permanent living you are exempted during 6 years, if the property price is under 157 500 Euro, or 3 years if the price is between 157.500 Euro and 236.250 Euro.
Home
Join
Services
Algarve
