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Total Costs of Buying Property in the Algarve

A complete breakdown of all costs beyond the purchase price: IMT, stamp duty, notary, legal, registry and ongoing charges.

Beyond the asking price

The purchase price is only part of the cost. Budget an additional 7-10% for transaction costs on a typical Algarve property purchase.

IMT (property transfer tax)

The main acquisition tax. Rates range from 0% (permanent residence under EUR 104,261) to 7.5% (over EUR 1.13M). Secondary homes start at 1%. Use our IMT calculator for exact figures.

Stamp duty (Imposto de Selo)

A flat 0.8% on the purchase price (or tax assessment value, whichever is higher). No exemptions.

Notary and registry fees

Typically EUR 500 to EUR 1,500 combined. The notary handles the escritura (deed), the Conservatoria do Registo Predial handles land registry.

Legal fees

A Portuguese lawyer (advogado) typically charges 1% to 1.5% of the purchase price, with a minimum of around EUR 2,000. Essential for due diligence, contract review and representation at completion.

Fiscal representative

Non-residents must appoint a fiscal representative in Portugal. Annual cost: EUR 150 to EUR 300. Some lawyers include this in their fees.

Example: EUR 350,000 property (secondary residence)

  • IMT: EUR 15,549
  • Stamp duty: EUR 2,800
  • Notary and registry: EUR 1,000
  • Legal fees: EUR 3,500
  • Fiscal representative: EUR 200
  • Total acquisition costs: approximately EUR 23,049 (6.6%)

    • Ongoing annual costs

  • IMI (property tax): 0.3% to 0.45% of VPT (varies by municipality)
  • Condominium fees (apartments): EUR 50 to EUR 300/month
  • Insurance: EUR 200 to EUR 500/year
  • Utilities: EUR 100 to EUR 200/month (water, electricity, gas)

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