Tax amounts are tabulated by law:
The IMT is the Municipal Tax on onerous transactions of real estate. It is calculated based on the purchase price of the property.
Rates range from 2% to 8%.
For properties between €550,836 up to €1,000,000, the flat rate is 6%.
Above 1,000,000 euros, the IMT in 2020 is 7.5%.
Rustic and agricultural plots have a fixed rate of 5%
Urban lots have a flat rate of 6.5%.
Stamp duty is calculated against the sales price.
The rates are:
Property: one-time fee of 0.8% on the declared value.
Mortgage: One-time rate of 0.6% on the mortgage value.
Lawyers
Depending on the purchase price of the property, lawyers generally work with fees ranging from 0.5% to about 1%. Some lawyers may agree to a flat fee, but usually the work is calculated at a percentage based on the purchase price.
Notarial expenses, registration of ownership, various documents
The total costs of all these expenses range from €500 to €1,500.
After Purchase:
IMI is calculated based on a table issued by the Government, and the rate ranges from 0.3% to 0.8% of the taxable asset value (which is usually much lower than the value of the acquisition).
Insurance premiums
Condo
Other taxes and fees
Other expenses that may arise (e.g. the maintenance of the property)
1,050,000 €
Luxury high quality villa, with heated swimming pool and large basement / garage, close to the beach, located in a privileged residential area.
950,000 €
Excellent detached 5 Bed Villa with heated pool and well maintained garden surrounding the villa just 3.5 Km from the Beaches of Galé and Salgados and other amenities.
1,990,000 €
Two story, 6 bedroom Smart Villa with full sized basement, set in a 2556 square meters plot, with Swimming Pool, all built to the highest standards of build, design and sophistication. A magnificent house with fabulous views, located in a quiet and peaceful area in Boliqueme (with all the amenities available) under 30 minutes to the airport and only 13 km away from the nearest beach, Praia da Falésia. Just minutes away from the A22 and N125 from which you can make your way to the most beautiful places the Algarve has to offer.
2,000,000 €
This modern 4-bedroom property meets all requirements. With an elegant design and luxurious furnishings, a perfectly tending garden houses a fabulous 11 by 4 m private swimming pool with heating pump and a large poolside terrace, complete with a full-size enclosed tennis court.
950,000 €
Spacious 4-bedroom Villa with Swimming Pool enjoying outstanding views across Vale de Parra, Salgados and beyond. Set on the hillside, in one of the most prestigious locations in Albufeira, Terras Novas, close to all amenities and 3,5 km to the Beaches.
1,595,000 €
5 Bedroom Villa next to the Salgados Golf Course with unobstructed views. This is the ideal retreat for lovers of comfort and modernity, and for golf enthusiasts. This detached Villa offers you privacy away from the hustle and bustle, conveniently situated outside the center of Albufeira in the renowned Salgados area. It has the benefit of having the amenities and beaches at close distance.
975,000 €
4 Bedroom Villa with Heated Pool in Galé. Situated in a residential area, very close to the sea and 350 meters away from Manuel Lourenço Beach. There are many restaurants nearby, including one with 2 Michelin stars, and two large supermarkets within walking distance.
275,000 €
Apartment in a condominium of Excellence, with swimming pool, gardens and common garage, near the beach in the area of Vale Parra, Guia