Diamond Properties

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Call: (00351) 289 362 130 | (00351) 919 716 846 in English

(00351) 917564728 em Portuguese

Buying Property in Portugal

Add a sparkle to you property search and let us find your jewel in the sunny Algarve at Diamond Properties Algarve.

Buying property in the Algarve with Diamond Properties Algarve is a straightforward process and the majority of our buyers are from abroad, so thousands of people have done it before you.

a) communication is in English or is translated

b) you don't need to be in the country, you can give Power of Attorney to your lawyer (we have a list of licensed English and French speaking lawyers)

c) it can take just 5 weeks from offer to completion

d) you can save money both on exchanging your money and tax benefits, with the right Foreign Exchange and Financial Tax Expert advice (we have all the contacts).

Diamond Properties Algarve personal service and professional knowledge help make buying property a stressfree and transparent process. We are here to help you every step of the way, before, during and after the real estate process. Real estate in Portugal is our every day job, we understand Portuguese documents, the real estate process and the Portuguese real estate law and we are licensed to do it.

With a blend of Irish and Portuguese owners we are a family run, independent company.  All the communication between you, us and  your lawyer will be in English or your chosen language.  We have all the specialist, reputable and government recognised contacts you need.buying property in portugal













If you are serious about buying property in the Algarve, there are a few important steps to take before you start viewing properties, which will speed up the process when you find the right property and put you in a powerful position if there is more than one buyer interested in the property you want.

Some sellers only want serious buyers to view their properties, they are there to sell their property not to have people who are thinking about buying and are not ready to. Sellers want buyers who have done their research, have the money and all the requirements needed to proceed with purchasing a property in the Algarve. If you need to sell a property or do not have a deposit, then you may not be taken seriously. To be a serious buyer you need the following:-

1. choose a lawyer (we have the details)

2. get a fiscal number (your lawyer can do this)

3. open a Portuguese Bank Account (we have the details)

4. get the best foreign exchange rate (we have the details)

5. get professional tax advice (we have the details)

6. have your money ready (we have contact details if a mortgage is required)

We work directly with property owners, we meet every owner and visit each property. Long before we meet you, it is our job as the estate agent to view all properties for sale, sign a contract with the owners, have a detailed tour, interview the owners, answer questions and ask questions, obtain copies of all official documents relating to the property and individual owners, take photos and showcase the property before buyers and bring serious buyers to view the property.


Once we have found you the perfect property, you meet with us or can telephone us to discuss your offer price, the conditions of the offer and timeframe.

We present your offer to the owner.

If the offer is accepted we confirm the offer in writing to both our clients, you the buyer and our client the seller on the same day.

We then contact the buyers and sellers lawyers with all the required details.

You as the buyer will then need to instruct your lawyer to proceed with the property purchase.

The buyer will often be required to make a pre-payment to the lawyer, this is normal.

Your lawyer will begin the purchase process and carry out checks and enquiries on the property and owner.

We can provide you with details of a Chartered Surveyor to examine the property and provide an independent full survey report.

We prepare the agreed inventory with photos and a description.

We take meter readings on the day of the deeds.

We are often the ones responsible for handing over the keys at the deeds.


Your lawyer will draft a Promissory Contract for your property purchase (Contracto de Promessa de compra e venda) which once agreed will be signed by you and the seller. It will be in Portuguese but can be in dual languages or translated for you and it will include:

  •  Identification of the parties to include the buyer, seller and the agent.
  •  Identification of the property.
  •  Agreed timescale, terms and conditions of the contract
  •  Agreed deposit amount (normally 10%)
  •  Agreed purchasing price, inventory and inventory price
  •  Completiion date and final balance (full purchase price balance).

Once signed the promissory contract is a legally binding contract both by the buyer and the seller and you as the buyer will be required to hand to your lawyer a 10% deposit of the purchase price. It is only once a promissory contract is signed and a 10% deposit is paid, that you have secured the property to purchase and then we remove the property from the market.  Unless a deposit is paid and promissory is signed, the seller and agent can continue to market and sell the property.

If the buyer defaults on the promissory contract, then the buyer forfeits the deposit. If the seller defaults on the promissory contract then the seller has to pay the buyer double the deposit (if included as a clause in the promissory contract or, if there is a clause specifically included that stipulates that the seller cannot withdraw then the buyer can legally force the seller to sell to the buyer).

Diamond Properties remain the mediator between the buyer, seller and their lawyers answering any questions, dealing with any queries, providing copies of paperwork.


Your lawyer's fees should be between 1 to 2% of the value of the property, and you should agree the fee and their role before you instruct them.

When purchasing a property buyers are required to pay IMT, this is the Portuguese Purchase Tax which will need to be paid prior to completion.

Here is a simulator to calculate the estimate of how much tax might be applied


The actual amount payable varies with the value of the property and your lawyer will always advise you of the actual figure applicable to your property purchase.

Property Price Euros    Tax Percentage 

Up to 92,407              0%
92,407 to 126 403      2%
126,403 to 172,348    5%
172,348 to 287,213    7%
287,213 to 574,323    8%
574,323 or more         6%

Property Stamp Duty Tax of 0.8%

Tax exemption applies to purchases as stimulated above. The above mentioned figures only apply to residential villas or apartments. Different percentages are applicable on urban or rustic land and non-residential property.  (The taxes are subject to change by the government - these figures were correct in August 2015 - check current applicable taxes.)

A very important exception has been introduced to the above figures in that whenever the purchasing entity is an Offshore territory resident / company, the Tax percentage will always be 15% regardless of the purchase price or the nature of the property.

Notary and registration fees are paid by you the buyer on completion at the deeds and as a rule will be approximately 2% of the value of the transaction.


The final deed is the proper legal title to the property (Escritura) takes place either at a public notary or the Government council town hall. The Escritura is in Portuguese and will be presented on a large screen and checked and read out aloud to you word for word in your language, in the presence of us the Estate Agent, the buyer, the seller and the lawyers.

Finally, your lawyer should register the property in the name of the new owner at the local land registry. Registration itself can take several months but it is effective from the day it was applied for. Chase your lawyer for a copy of this after the deeds.

New contracts will have to be set-up for all utilities such as electricity, water, gas, telephone etc. Your lawyer can attend to these on your behalf.

Check if a property is in the individual private owners names with the property registered in Portugal, or if the property is Offshore owned by a company outside of Portugal.

Offshore owned property is a legitimate, convenient and common place way of acquiring property in Portugal. When a property owned by an Offshore Company is bought, it is the shares of the company rather than the property itself, which changes hands.

Although buying Offshore is quicker and it cuts out part of the normal bureaucratic procedure, one should still carry out all of the searches, checks and inspections mentioned previously. We recommend you seek independent financial advice for the pros and cons on purchasing, owning, running and selling an Offshore property.


Diamond Properties usually had the keys to your property before you for buyer viewings, so we know the properties well and we can continue looking after the keys to your property when you become the new owner. With our fully inclusive property management and maintenance service we can take personal care of all your property needs, including weekly pool maintenance, gardening and cleaning. We attend to your property once a week, pay your bills and are available for anything you, your family, guests or property may require 24 hours a day. Contact us for a personalised quote.


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Why Choose Us

Buying a property abroad is a big decision and a dream come true. At Diamond Properties Algarve we want to be part of your next chapter, you can rest assured you will be dealing with an estate agent that is:-

  • established over 20 years
  • independent small business
  • very experienced in dealing with expats
  • professionally qualified
  • registered company
  • fully insured
  • fully licensed AMI 13405
  • knowledge of the local property market
  • a traditional shop in the quaint village of Boliqueime

We are a family run, independent company so our service to you is very personal. Each and every client looking to sell their property as well as each customer looking to buy, is truly valued and are important to us. We know the help you need, and the level of trust you are putting in us with one of your most important financial investments.

With 20 years in the industry, we have a wealth of knowledge and contacts including Building Surveyors, Lawyers, Mortgage Lenders, Banks, International Removers, Insurers, Builders, Plumbers, Electricians, Decorators, and everything and everybody you will need to run your home in the Algarve.

Should you want someone trustworthy to run your property for you, we can do that for you too with your own personal assistant through our Property Management Service.

We also support you through the social and emotional side of moving country and moving home, as we have done for so many before you, here we sell properties and make friends.

Add a sparkle to your property search and register with us to find your jewel in the sunny Algarve with Diamond Properties Algarve!

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