Praia da Luz Property
The beachside village of Praia da Luz on the Algarve's southwestern coast is located approximately 6km from Lagos. It's origins date back to Roman times and a bath complex and fish salting tanks have been found near the shore. With its newly cobbled promenade (which include various designs in its surface), rebuilt church, Roman remains, fort and long sandy beach with its shops, bank and post office. We have new and resale villas in Praia da Luz for sale. To the east of the village is the black volcanic rock known as Rocha Negra. There are many bars and restaurants which cater for English patrons and also offer more Portuguese style dishes.
Praia da Luz is more developed than some other fishing villages along the coast from Lagos. This means there is a good variety of villas and apartments for sale, which means you are likely to find your ideal property in the right location. We have many villas in Praia da Luz for sale.
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.
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.
Ideal investment opportunity - large waterfront plot of 12,615m2 with project already approved for the construction of a 5-Star Hotel and Spa with simply stunning views towards the Atlantic Ocean.
Wonderful luxurious 10 bedroom villa with expansive pool, set in over 2 acres of beautiful landscaped gardens, located near the beach and all amenities in Luz de Tavira. This elegant projec...
- Floor Size: 554 square metres
- Plot Size: 8,500 square metres (0.85 hectares / 2.10 acres)
- Bedrooms: 10
Magnificent cliff-top building plot of 55,960, ideally situated just 10km west of Lagos, which is the most popular town in the western Algarve, with the added bonus of having planning permission to co...
- Floor Size: 720 square metres
- Plot Size: 55,960 square metres (5.60 hectares / 13.83 acres)
- Bedrooms: 0
Surrounded by beautiful landscaped gardens, is this stunning 4 bedroom villa with pool enjoying sea views from its location near all amenities in Praia da Luz. This spacious and bright property...
- Floor Size: 260 square metres
- Plot Size: 1,128 square metres (0.11 hectares / 0.28 acres)
- Bedrooms: 4
Modern and spacious 3 bedroom detached villa, ideally situated within a prestigious area in Luz, just 10 minutes from Lagos, set within easy to maintain gardens and lovely views towards the sea. <...
- Plot Size: 910 square metres (0.09 hectares / 0.22 acres)
- Bedrooms: 3
Ideal opportunity to purchase a large plot of land situated in a prime location in Praia da Luz and within easy access to the village centre and amenities. There are currently no permissions ...
- Plot Size: 5,200 square metres (0.52 hectares / 1.28 acres)
- Bedrooms: 0
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 ...
- Floor Size: 524 square metres
- Plot Size: 745 square metres (0.07 hectares / 0.18 acres)
- Bedrooms: 4
Modern and spacious 3 bedroom single level villa with a total living area of 307.5m2, set within 875m2 of easy to maintain gardens with a swimming pool and stunning sea views, located in a quiet devel...
- Floor Size: 3,075 square metres
- Plot Size: 875 square metres (0.09 hectares / 0.22 acres)
- Bedrooms: 3
Brand new 3 bedroom villa which is reaching completion, situated in an elevated position in Praia da Luz, with fantastic views towards the sea. Built to a very high standard using quality mater...
- Floor Size: 181 square metres
- Plot Size: 1,130 square metres (0.11 hectares / 0.28 acres)
- Bedrooms: 3
Spectacular new build 3 bedroom, 3 storey villa with pool and cinema room set in a landscaped garden located near the beach and all amenities in Praia da Luz. This superb property is private a...
- Floor Size: 190 square metres
- Plot Size: 930 square metres (0.09 hectares / 0.23 acres)
- Bedrooms: 4