Algarve Properties with Rental Income Potential
Algarve Properties with Rental Income Potential

Why Choose PPG

For over twenty years we have built a network of the best professional agents in the most desirable locations. We offer our clients a tailored personal service, at no extra expense. We make sure that buying your overseas property, from initial viewings to final purchase, goes as smoothly as possible.

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Algarve Properties with Rental Income Potential

Guide to the Portugese Buying Process

1. Signing a Letter of Intent
On finding a property you wish to purchase, your agent will draw up a 'Letter of Intent, this will be signed by both parties, vendor and buyer. Copies of this will be given to the legal representatives of both parties and will be used in preparing the Promissory Contract. Included in this letter will be the price, what is included in the sale, furnishings etc. and any conditions of the sale plus the dates for both exchange and completion.

2. Exchange of Promissary Contract (Contrato Promessa de Compra e Venda)
The buyers lawyers are responsible for drawing up the promissory contract (Contrato Promessa de Compra e Venda) and as part of the process they will have carried out the legal searches and made sure that there are no charges, e.g. utilities, property tax etc. against the property. The contract will contain details of both parties and include clear title of ownership, when payments are due to be made, the completion date and an inventory, if required. The Promissory Contract is legally binding and will generally be signed by both parties and witnessed by a notary/lawyer. The contract will include penalty clauses in case either party does not fulfill the terms of the contract. A 10%, non-refundable deposit is required at this point, this will be paid to the vendor, through the lawyer's client account. Once the contract has been signed, if the vendor pulls out of the contract, they will be obliged to pay back double the deposit to the purchaser. If the purchaser pulls out, they will lose their deposit.

3. On Completion
The amount of time between signing the Promissary Contract and Completion will vary and will have been agreed in the contract. Before Completion your lawyer will need to arrange with a fiscal representative for you to obtain a Portuguese Fiscal Number. The official Deed of Transfer of ownership (the Escritura) will be signed by you (or someone representing you with your Power of Attorney), this is signed at the Notary and they will retain the document. The Deed will be read aloud by the Notary before all participants sign it. Your lawyer will need to check to ensure that you understand what is being said if you do not understand Portugese. The Escritura, once it has been signed, will officially give you ownership of the property, but will still need to be registered in your name on the Land Registry (Registo Predial) by your lawyer. Your lawyer should obtain a copy of this for your records. Once you have completed, the new utility contracts can be transferred into your name by your lawyer.

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IMPORTANT - Disclaimer :
All information provided is believed to be current and provided free of charge. No liability can be accepted for the reliability of the information and statements made as this is obtained from 3rd parties. We always recommend you take legal advice from a fully qualified Lawyer or Notary before buying a property overseas.

139 properties

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3 bedroom apartment for sale, Alvor, Western Algarve, Algarve

3 bedroom apartment for sale, Alvor, Western Algarve, Algarve
375,000 EUR

3 bedroom apartment for sale, Alvor, Western Algarve, Algarve

Superb beautifully presented 3 bedroom ground floor apartment located in Alvor, with lovely views overlooking the swimming pool, situated within a closed condominium and just 100m from the beach. ...

REF: 226897
  • Floor Size: 102 square metres
  • Bedrooms: 3
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6 bedroom villa for sale, Lagos, Western Algarve, Algarve

6 bedroom villa for sale, Lagos, Western Algarve, Algarve
690,000 EUR

6 bedroom villa for sale, Lagos, Western Algarve, Algarve

Bright and spacious 3 bedroom villa with garden and separate studio, located near the beach and all amenities in Lagos. This charming property offers generous areas both internally and externa...

REF: 226584
  • Floor Size: 298 square metres
  • Plot Size: 677 square metres (0.07 hectares / 0.17 acres)
  • Bedrooms: 6
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3 bedroom villa for sale, Porches, Central Algarve, Algarve

3 bedroom villa for sale, Porches, Central Algarve, Algarve
715,000 EUR

3 bedroom villa for sale, Porches, Central Algarve, Algarve

Great opportunity to create a spacious and modern home with this traditional three bedroom villa in Porches, offering great potential for a renovation project to be used as a family home, holiday home...

REF: 226456
  • Floor Size: 345 square metres
  • Plot Size: 1,080 square metres (0.11 hectares / 0.27 acres)
  • Bedrooms: 3
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4 bedroom villa for sale, Praia da Luz, Western Algarve, Algarve

4 bedroom villa for sale, Praia da Luz, Western Algarve, Algarve
950,000 EUR

4 bedroom villa for sale, Praia da Luz, Western Algarve, Algarve

Spacious and beautifully appointed 4 bedroom south facing villa, with a total living area of 524m2, ideally situated right in the heart of Praia da Luz, with stunning sea views and with easy acces to ...

REF: 226329
  • Floor Size: 524 square metres
  • Plot Size: 745 square metres (0.07 hectares / 0.18 acres)
  • Bedrooms: 4
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5 bedroom villa for sale, Alvor, Western Algarve, Algarve

5 bedroom villa for sale, Alvor, Western Algarve, Algarve
450,000 EUR

5 bedroom villa for sale, Alvor, Western Algarve, Algarve

Set in a peaceful area near to the beach, golf courses and all amenities in Alvor, is this charming 5 bedroom villa with separate one bedroom annex and garden, enjoying breathtaking views across the c...

REF: 226229
  • Floor Size: 290 square metres
  • Plot Size: 435 square metres (0.04 hectares / 0.11 acres)
  • Bedrooms: 5
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Commercial property for sale, Alvor, Western Algarve, Algarve

Commercial property for sale, Alvor, Western Algarve, Algarve
550,000 EUR

Commercial property for sale, Alvor, Western Algarve, Algarve

Unique opportunity to acquire a fully operational restaurant located near the beach and all amenities in Alvor. This charming property has a total size of 198.75m2 and is capable of providing ...

REF: 226228
  • Floor Size: 140 square metres
  • Plot Size: 199 square metres (0.02 hectares / 0.05 acres)
  • Bedrooms: 0
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7 bedroom villa for sale, Boliqueime, Central Algarve, Algarve

7 bedroom villa for sale, Boliqueime, Central Algarve, Algarve
1,550,000 EUR

7 bedroom villa for sale, Boliqueime, Central Algarve, Algarve

Nestling in nearly one and a half acres of beautiful landscaped gardens enjoying breathtaking sea views, is this charming rustic 7 bedroom Bed and Breakfast property with expansive pool, located near ...

REF: 226225
  • Floor Size: 433 square metres
  • Plot Size: 5,790 square metres (0.58 hectares / 1.43 acres)
  • Bedrooms: 7
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4 bedroom villa for sale, Armacao de Pera, Central Algarve, Algarve

4 bedroom villa for sale, Armacao de Pera, Central Algarve, Algarve
560,000 EUR

4 bedroom villa for sale, Armacao de Pera, Central Algarve, Algarve

Unique circular traditional Portuguese four bedroom villa with pool and separate annex located near all amenities in Armacao de Pera, a parish in the municipality of Silves. Situated within a ...

REF: 226122
  • Floor Size: 199 square metres
  • Plot Size: 2,416 square metres (0.24 hectares / 0.60 acres)
  • Bedrooms: 4
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6 bedroom farmhouse for sale, Luz de Tavira, Eastern Algarve, Algarve

6 bedroom farmhouse for sale, Luz de Tavira, Eastern Algarve, Algarve
2,300,000 EUR

6 bedroom farmhouse for sale, Luz de Tavira, Eastern Algarve, Algarve

Nestling in over 53 acres of glorious land enjoying uninterrupted far reaching countryside views, is this charming 4 bedroom farmhouse with separate 2 bedroom Quinta and an expansive pool, located in ...

REF: 226051
  • Floor Size: 1,055 square metres
  • Plot Size: 216,617 square metres (21.66 hectares / 53.53 acres)
  • Bedrooms: 6
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8 bedroom villa for sale, Ferrerias, Albufeira, Central Algarve, Algarve

8 bedroom villa for sale, Ferrerias, Albufeira, Central Algarve, Algarve
475,000 EUR

8 bedroom villa for sale, Ferrerias, Albufeira, Central Algarve, Algarve

Spacious and beautifully presented large family home with an additional 3 separate cottages, with a total living area of 691m2, all of which are presented and maintained to a very high standard and id...

REF: 225941
  • Floor Size: 691 square metres
  • Plot Size: 5,420 square metres (0.54 hectares / 1.34 acres)
  • Bedrooms: 8
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