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)
2,500,000 €
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.
1,550,000 €
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.
785,000 €
Contemporary Townhouse with 2 suites, private pool and garage spaces with direct access to the interior of the unit. Located in a gated community with surveillance, car concierge and reception, by the sea.
850,000 €
Contemporary Townhouse with 3 suites, private pool and garage spaces with direct access to the interior of the property. Located in a gated community with surveillance, car concierge and reception, by the sea.
1,650,000 €
Contemporary townhouse with 4 bedrooms, private pool and parking spaces with direct access to the interior of the property. Located in a gated community with surveillance, car concierge and reception, by the sea.
1,950,000 €
Fantastic Villa with Pool and Garden on plot of 4310 m2 in Terras Novas, Albufeira
560,000 €
Fantastic 2 Bedroom Detached Villa with Private Pool and Garden in Quinta dos Álamos , Guia
550,000 €
Excellent apartment with 226 square meters, two generous suites and 3 balconies, just a few steps from Salgados beach. The apartment is located on the 4th floor with elevator.
595,000 €
Lovely 2 Bedroom Townhouse located in a Private Gated Community in the prestigious area of Galé, Sesmarias, Albufeira, only a 10 min walk away from the Beach!