Divine Home is a government licensed Real Estate Agency (AMI - 8408) with 2 offices in the Algarve, one conveniently located on the Marina of Albufeira, Central Algarve and the other in São Brás de Alportel on the East of the Algarve. We have the capacity to work from the East of the Algarve all the way down to the West coast including the well known Golden Triangle area with the famous resorts such as Vale do Lobo and Quinta do Lago. We do also have properties along the Silver Coast of Portugal.
We are a Company with an up market image that focuses on the specific needs of our clients by offering a comprehensive and personalized service. We will assist you from the initial stages of searching and finding your ideal property to placing an offer to Reservation to CPCV (Promissory Contract ) and through to final deed (= the “Escritura”. We pledge a professional service and a friendly relationship.
Our portfolio offers a variety of properties including a wide selection of exclusive properties suitable for permanent residence, holiday home, retirement home, golf/beach escapes and investment/rental projects.
Please find some general information that will be very knowledgeable for you as outlined below. For more detailed information please visit our website on the homepage in the buying section
Mortgages in Portugal
The requirements and terms are similar to those in the UK and you must be able to show you can make the repayments. You can normally borrow up to 70% of the bank valuation and interest rates will vary due to personal status. We can recommend several local banks, of which some have Branches in the UK. We can also forward your contact to them and they can contact you directly prior to your arrival. This will allow you to be informed of all your requirements e.g. necessary documentation you need to bring, should you wish to proceed with a purchase when you visit. Should you wish to work with any particular Bank, we will be pleased to assist you. The interest rate can vary.
You can place an offer on a property after viewing, most owners are now open to negotiation.
It is no longer obliged to have a fiscal representative.
Currency Exchange to Euros
We can recommend Currency exchange specialists who can offer you competitive rates, sometimes better than your bank will offer. If you need to discuss currency matters further, please contact us and we will advise you.
The fluctuations in the exchange rate between the Pound and the Euro can make a significant difference when large amounts are concerned, therefore, specialist advice should be considered.
Should I make a will covering my property in Portugal
We would recommend a Portuguese Will.
We strongly recommend that you use a lawyer who has thorough understanding of the Portuguese conveyance law and any local variations which may impact on your proposed purchase. Most lawyers are bilingual in Portuguese and English and some speak other languages like German, Spanish, French, Dutch etc. If you require a specific language not mentioned, please let us know and we shall try to provide you with a suitable recommendation. Normally the English language is sufficient.
Important to know if you own a property and if you have a Residence you can be exempted from paying the 'IMI' (annual tax) for the first 4 to 8 years depending on the valuation of the property by the 'FINANÇAS' (Tax Department)
Will I be entitled to Medical and health treatments
Foreign residents who contribute to the Portuguese Social Security are entitled to treatment at the Public Hospitals and local Health Centers (Centro de Saúde) for a small charge. Foreign residents normally take out a Private Health Insurance with one of the specialized International Companies. This provides them affordable access to a large number of specialists practicing in the private hospitals or clinics (normally staffed and equipped to provide a more personalized service than state institutions can provide). It is also possible to be treated at the local or district hospital by presenting the E111 Form, which can be obtaining from your local post office.
Will the property I buy be Freehold
We normally only deal with Freehold at Divine Home.
Not in respect of Portuguese properties where the appropriate documentation has been submitted to the tax authority. The Inheritance Tax was abolished as from 2004, and is therefore, no longer applicable.
Please note: This information is for guidance only and we cannot accept responsibility for any mistakes or misinformation. We strongly recommend Legal and Fiscal Consultations at all times prior to any transaction as the laws are constantly changing.