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.

113 properties

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4 bedroom villa for sale, Meia Praia, Lagos, Western Algarve, Algarve

4 bedroom villa for sale, Meia Praia, Lagos, Western Algarve, Algarve
3,600,000 EUR

4 bedroom villa for sale, Meia Praia, Lagos, Western Algarve, Algarve

Absolutely outstanding 4 bedroom villa with pools, nestling in over half an acre of glorious landscaped gardens with fruit trees, while enjoying amazing sea views from its ideal elevated location with...

REF: 231228
  • Floor Size: 580 square metres
  • Plot Size: 2,643 square metres (0.26 hectares / 0.65 acres)
  • Bedrooms: 4
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6 bedroom villa for sale, Almancil, Central Algarve, Algarve Golden Triangle

6 bedroom villa for sale, Almancil, Central Algarve, Algarve Golden Triangle
799,500 EUR

6 bedroom villa for sale, Almancil, Central Algarve, Algarve Golden Triangle

A bright and spacious 4 bedroom villa with separate 2 bedroom apartment, pool and garden, set in a quiet and private location in a cul de sac in the hamlet of Vale de Égua, near to Almancil. T...

REF: 231221
  • Floor Size: 416 square metres
  • Plot Size: 832 square metres (0.08 hectares / 0.21 acres)
  • Bedrooms: 6
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4 bedroom villa for sale, Santo Estevao, Eastern Algarve, Algarve

4 bedroom villa for sale, Santo Estevao, Eastern Algarve, Algarve
1,900,000 EUR

4 bedroom villa for sale, Santo Estevao, Eastern Algarve, Algarve

Nestling in over 35.5 acres of glorious land with olive trees and Madronia, is this luxurious 3 storey, 4 bedroom villa with pool, enjoying far reaching panoramic views from its peaceful location near...

REF: 231168
  • Floor Size: 640 square metres
  • Plot Size: 144,441 square metres (14.44 hectares / 35.69 acres)
  • Bedrooms: 4
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5 bedroom villa for sale, Vilamoura, Central Algarve, Algarve

5 bedroom villa for sale, Vilamoura, Central Algarve, Algarve
1,285,000 EUR

5 bedroom villa for sale, Vilamoura, Central Algarve, Algarve

Beautifully renovated 4 bedroom villa with separate one bedroom apartment, large mature garden and pool, ideally located near golf courses, the beach and all amenities in Vilamoura. The 300m2 c...

REF: 231167
  • Floor Size: 300 square metres
  • Plot Size: 1,000 square metres (0.10 hectares / 0.25 acres)
  • Bedrooms: 5
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Farmhouse for sale, Tavira, Eastern Algarve, Algarve

Farmhouse for sale, Tavira, Eastern Algarve, Algarve
1,500,000 EUR

Farmhouse for sale, Tavira, Eastern Algarve, Algarve

Unique opportunity to acquire a large farmhouse nesting in nearly 8 acres of glorious land with fruit trees, located in Luz de Tavira, Algarve. The property is currently and essentially dedica...

REF: 231132
  • Floor Size: 294 square metres
  • Plot Size: 31,916 square metres (3.19 hectares / 7.89 acres)
  • Bedrooms: 0
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2 bedroom townhouse for sale, Lagos, Western Algarve, Algarve

2 bedroom townhouse for sale, Lagos, Western Algarve, Algarve
270,000 EUR

2 bedroom townhouse for sale, Lagos, Western Algarve, Algarve

Charming and full of character is this traditional 3 storey, 2 bedroom Algarvian townhouse, enjoying sea views from its roof terrace, located near all amenities in Lagos. Situated in a resident...

REF: 231078
  • Floor Size: 60 square metres
  • Bedrooms: 2
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Commercial Property for sale, Almancil, Central Algarve, Algarve Golden Triangle

Commercial Property for sale, Almancil, Central Algarve, Algarve Golden Triangle
245,000 EUR

Commercial Property for sale, Almancil, Central Algarve, Algarve Golden Triangle

Bright and spacious corner office space, located in the most modern area of Almancil. This light and airy, large 100m2 office space is within walking distance of banks, lawyers, the Loja do Mun...

REF: 231023
  • Floor Size: 100 square metres
  • Bedrooms: 0
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Commercial Property for sale, Lagos, Western Algarve, Algarve

Commercial Property for sale, Lagos, Western Algarve, Algarve
225,000 EUR

Commercial Property for sale, Lagos, Western Algarve, Algarve

Tastefully renovated commercial property located in one of the most acclaimed areas of Lagos This bright and clean property of 75m2 is prepared to start a restaurant or pub business. Th...

REF: 230895
  • Floor Size: 75 square metres
  • Bedrooms: 0
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6 bedroom villa for sale, Santa Barbara de Nexe, Central Algarve, Algarve

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

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

Surrounded by nearly 2 acres of glorious tropical gardens and orchards, is this luxury 3 bedroom villa with separate 3 bedroom guest house and expansive pool, enjoying panoramic views from its elevate...

REF: 230840
  • Floor Size: 800 square metres
  • Plot Size: 7,500 square metres (0.75 hectares / 1.85 acres)
  • Bedrooms: 6
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3 bedroom townhouse for sale, Baia da Luz , Praia da Luz, Western Algarve, Algarve

3 bedroom townhouse for sale, Baia da Luz , Praia da Luz, Western Algarve, Algarve
350,000 EUR

3 bedroom townhouse for sale, Baia da Luz , Praia da Luz, Western Algarve, Algarve

Beautifully presented 3 bedroom townhouse, with a total spacious living area of 157m2, ideally situated within the Baia da Luz resort in Praia da Luz. Well designed and with the added bonus of ...

REF: 230595
  • Floor Size: 157 square metres
  • Bedrooms: 3
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