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.

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2 bedroom apartment for sale, Porto de Mos, Lagos, Western Algarve, Algarve

2 bedroom apartment for sale, Porto de Mos, Lagos, Western Algarve, Algarve
345,000 EUR

2 bedroom apartment for sale, Porto de Mos, Lagos, Western Algarve, Algarve

Bright and spacious fully furnished 2 bedroom apartment with communal pool and tennis court, enjoying sea views from its location near the beach and all amenities in Porto de Mos. This property...

REF: 230262
  • Floor Size: 96 square metres
  • Plot Size: 19 square metres (0.00 hectares / 0.00 acres)
  • Bedrooms: 2
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5 bedroom farmhouse for sale, Luz de Tavira, Eastern Algarve, Algarve

5 bedroom farmhouse for sale, Luz de Tavira, Eastern Algarve, Algarve
530,000 EUR

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

Nestling in 7.5 acres of glorious land with carob, olive and fruit trees, is this charming set of renovated traditional houses, located in a peaceful area near all amenities in Luz de Tavira. T...

REF: 230081
  • Floor Size: 2,914 square metres
  • Plot Size: 30,251 square metres (3.03 hectares / 7.48 acres)
  • Bedrooms: 5
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Plot of land for sale, Alcantarilha e Pera, Alcantarilha, Central Algarve, Algarve

Plot of land for sale, Alcantarilha e Pera, Alcantarilha, Central Algarve, Algarve
4,500,000 EUR

Plot of land for sale, Alcantarilha e Pera, Alcantarilha, Central Algarve, Algarve

Unique opportunity to acquire a 77 acre plot of land with farmhouse, enjoying far reaching countryside views from its peaceful location in Alcantarilha/Pera, Algarve. This old family farm has t...

REF: 230023
  • Plot Size: 311,790 square metres (31.18 hectares / 77.05 acres)
  • Bedrooms: 0
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11 bedroom villa for sale, Silves, Central Algarve, Algarve

11 bedroom villa for sale, Silves, Central Algarve, Algarve
12,900,000 EUR

11 bedroom villa for sale, Silves, Central Algarve, Algarve

Exceptional luxurious villa with separate guest houses, cinema, Spa, tennis court, expansive pool and Jacuzzi, nestling in 19.5 acres of glorious land with vineyards, while enjoying far reaching count...

REF: 230016
  • Floor Size: 3,157 square metres
  • Plot Size: 79,000 square metres (7.90 hectares / 19.52 acres)
  • Bedrooms: 11
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2 bedroom villa for sale, Monchique, Western Algarve, Algarve

2 bedroom villa for sale, Monchique, Western Algarve, Algarve
395,000 EUR

2 bedroom villa for sale, Monchique, Western Algarve, Algarve

Bright and beautifully presented 2 bedroom villa, ideally situated in a quiet setting on the mountainside in Monchique and with amazing views towards the sea. Set 900m above sea level and in an...

REF: 229896
  • Floor Size: 120 square metres
  • Plot Size: 13,480 square metres (1.35 hectares / 3.33 acres)
  • Bedrooms: 2
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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
678,000 EUR

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

Beautifully presented 3 bedroom partly furnished villa with separate one bedroom apartment, pool and glorious landscaped garden, enjoying panoramic sea views from its location near the beach and all a...

REF: 229881
  • Floor Size: 218 square metres
  • Plot Size: 1,080 square metres (0.11 hectares / 0.27 acres)
  • Bedrooms: 4
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5 bedroom farmhouse for sale, Santa Barbara de Nexe, Central Algarve, Algarve

5 bedroom farmhouse for sale, Santa Barbara de Nexe, Central Algarve, Algarve
850,000 EUR

5 bedroom farmhouse for sale, Santa Barbara de Nexe, Central Algarve, Algarve

Bright and spacious traditional Quinta with 3 bedroom guest house and pool, nestling in nearly an acre of glorious landscaped gardens, while enjoying countryside views from its peaceful location near ...

REF: 229846
  • Floor Size: 370 square metres
  • Plot Size: 3,200 square metres (0.32 hectares / 0.79 acres)
  • Bedrooms: 5
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4 bedroom villa for sale, Quelfes, Eastern Algarve, Algarve

4 bedroom villa for sale, Quelfes, Eastern Algarve, Algarve
775,000 EUR

4 bedroom villa for sale, Quelfes, Eastern Algarve, Algarve

Situated in a quiet setting in Quelfes Moncarapacho and set within a matre landscaped plot of 3,840m2 with a swimming pool and lovely sea views, this lovely villa has a total spacious living area of 3...

REF: 229825
  • Floor Size: 392 square metres
  • Plot Size: 3,840 square metres (0.38 hectares / 0.95 acres)
  • Bedrooms: 4
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4 bedroom villa for sale, Santa Barbara de Nexe, Central Algarve, Algarve

4 bedroom villa for sale, Santa Barbara de Nexe, Central Algarve, Algarve
2,150,000 EUR

4 bedroom villa for sale, Santa Barbara de Nexe, Central Algarve, Algarve

Bright and spacious, modern 4 bedroom villa with pool, surrounded by over half an acre of beautiful landscaped gardens while enjoying spectacular views across the Algarvian countryside, mountains and ...

REF: 229822
  • Floor Size: 38,878 square metres
  • Plot Size: 2,788 square metres (0.28 hectares / 0.69 acres)
  • Bedrooms: 4
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3 bedroom villa for sale, Luz, Western Algarve, Algarve

3 bedroom villa for sale, Luz, Western Algarve, Algarve
890,000 EUR

3 bedroom villa for sale, Luz, Western Algarve, Algarve

A new, modern and contemporary 3 bedroom villa with pool and garden, enjoying sea views from its ideal location near the beach and all amenities in Luz, Lagos. Spread across a build size of 377...

REF: 229821
  • Floor Size: 377 square metres
  • Plot Size: 1,102 square metres (0.11 hectares / 0.27 acres)
  • Bedrooms: 3
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