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Blog
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What are the running costs of a property in Portugal?
Portugal is known for the low tax fees and that also applies for properties. There is only 1 tax applicable for property owners and that is called: Council tax The council tax (Imposto Municipal sobre Imóveis) is charged by the City Hall of your village (Camara Municipal) and the rate is calculated based on -
Your best property Sales Advisor
Are you thinking of selling your property in Albufeira, Vilamoura, Loulé or anywhere else in the Algarve? Reach out to WESTMARK estate agency. At WESTMARK, we are committed to revolutionizing the real estate experience by offering transparent and affordable services to sellers. Our unique model, based on fixed packages rather than high commissions, ensures -
What is the property Tax in Portugal?
Anyone who owns a property in Portugal on 31 December is in principle liable to pay Property Tax for that year. The Portuguese property tax – which is called in Portugal: Imposto Municipal sobre Imóveis (IMI) - is a municipality tax and gets charged by the Finance office. The value gets determined on -
Useful facts about the Algarve
The Algarve has been a very popular region for buying a (second) home for years and is still growing in popularity. The friendly climate i sone of the most important things for this. Also for investors who are looking to buy an investment in real estate this is quite useful. Due to the warm climate all year round, the yield you can get on your investment is quite interesting. -
What is the status of the Golden Visa?
For many years the Golden Visa scheme was most popular amongst expats as a vehicle to enter Europa through a Portuguese citizenship by using a real estate investment. This scheme has been questioned by the European Union for several years and eventually they pressured Portugal to make changes to the Golden Visa regulations. This resulted in new laws since -
Do I pay capital gains tax in Portugal?
In Portugal, you’ll pay capital gains tax (Mais Válias) once you have sold your property with profit. Basically, you need to pay capital gains tax on the difference between the purchase price and the selling price, with some deductible costs and expenses. The Portugues tax laws make a difference between EU citizens and non-EU citizens, which you need to be aware off.