# QP Savills — Luxury Real Estate in the Algarve, Portugal > QP Savills is the longest-standing Savills associate worldwide, specialising in luxury residential property in the Algarve, Portugal since 1983. Licensed under AMI-1252 by IMPIC. --- ## Company - **Legal name**: Mills & Mills – Sociedade de Mediação Imobiliária Lda. - **Tax ID (NIPC)**: PT503521515 - **AMI License**: 1252 (regulated by IMPIC) - **Founded**: 1983 - **Savills associate since**: Longest-standing worldwide - **Team**: ~20 multilingual professionals (English, Portuguese, French, German, Dutch, Spanish) - **Website**: https://quintaproperty.com - **Portfolio**: ~240 active listings across the Algarve ## Offices ### Quinta do Lago Office (Head Office) - Address: 25 Avenida da Gondra, 8135-162 Almancil, Portugal - Phone: +351 289 396 073 - Email: info@qp.pt - Coordinates: 37.0556, -8.0268 ### Vale do Lobo Office - Address: Avenida do Mar, 8135-034 Almancil, Portugal - Phone: +351 289 009 810 - Email: vdl@qp.pt - Coordinates: 37.0480, -8.0640 ### Loulé Office - Address: Praça da República 55, 8100-270 Loulé, Portugal - Phone: +351 289 155 930 - Email: loule@qp.pt - Coordinates: 37.1389, -8.0200 --- ## Areas We Cover ### The Golden Triangle The most prestigious area in the Algarve, comprising three world-class resorts: **Quinta do Lago** - Ultra-luxury gated resort with 2 championship golf courses (North & South) - Private beach accessed via a wooden bridge over the Ria Formosa - Home to some of Portugal's most expensive properties (€2M–€15M+) - Strong international buyer base: UK, German, Dutch, Scandinavian **Vale do Lobo** - Luxury resort with Royal and Ocean golf courses - Beachfront location with iconic sandstone cliffs - Mix of villas, townhouses, and apartments (€500K–€8M) - Active rental market and resort amenities **Vilamoura** - Largest private resort in Europe with a 1,000-berth marina - 5 golf courses, casino, beaches, and vibrant nightlife - More diverse property market (€200K–€5M) - Popular with investors for rental yield ### Central Algarve - **Loulé**: Historic market town, growing expat community, countryside properties - **Almancil**: Between QdL and VdL, convenient location, villas and land - **São Brás de Alportel**: Rural hillside town, traditional charm, lower prices ### Eastern Algarve - **Tavira**: Charming historic town, quieter, growing luxury segment - **Olhão**: Fishing town, Ria Formosa access, emerging market - **Faro**: Capital city, airport proximity, urban living ### Western Algarve - **Lagos**: Historic port city, dramatic coastline, surfing - **Portimão**: Coastal city, marina, developing luxury market - **Albufeira**: Tourist hub, wide range of properties - **Silves**: Medieval hilltop town, countryside estates - **Lagoa**: Between Albufeira and Portimão, coastal cliffs --- ## Buying Property in Portugal — Key Facts ### The Buying Process 1. **Get a NIF** (Número de Identificação Fiscal) — Portuguese tax number, required for all transactions 2. **Open a Portuguese bank account** — needed for mortgage and utility payments 3. **Find your property** — with QP Savills as your agent 4. **Make an offer** — negotiation through your agent 5. **Sign the CPCV** (Contrato Promessa de Compra e Venda) — binding purchase agreement, 10–30% deposit 6. **Due diligence** — lawyer checks land registry, tax status, building permits 7. **Sign the Escritura** — final deed at the notary, ownership transfers 8. **Register ownership** — at the Conservatória (Land Registry) ### Costs of Buying - **IMT** (Property Transfer Tax): 6–7.5% depending on property value - **Stamp Duty** (Imposto do Selo): 0.8% of purchase price - **Notary and registration fees**: ~€1,000–€2,000 - **Legal fees**: typically 1–1.5% of purchase price - **Total buying costs**: approximately 8–10% on top of purchase price ### Annual Property Taxes - **IMI** (Municipal Property Tax): 0.3–0.45% of VPT (tax value) annually - **AIMI** (Additional IMI): applies if total urban property value exceeds €600,000 - **Condominium fees**: varies by development ### Capital Gains Tax - 50% of gains are taxable for residents and non-residents - Exemptions possible when reinvesting in primary residence - Non-EU residents: flat 28% on gains --- ## Visa Options for Portugal ### D7 Visa (Passive Income) - For retirees and those with passive income (pension, dividends, rental income) - Minimum income: ~€760/month (Portuguese minimum wage) - Path to permanent residency after 5 years ### D8 Visa (Digital Nomad) - For remote workers employed by non-Portuguese companies - Minimum income: 4x Portuguese minimum wage (~€3,040/month) - Growing in popularity since 2022 ### D2 Visa (Entrepreneur) - For business owners and investors starting a company in Portugal - Must demonstrate viable business plan and investment ### Golden Visa - Since October 2023: real estate investments NO LONGER qualify - Current qualifying routes: job creation, research investment, cultural heritage - Still valid for renewals of existing Golden Visa holders ### IFICI (formerly NHR) - Replaced NHR in 2024 - 20% flat income tax rate for qualifying professionals and researchers - 10-year benefit period for eligible new residents --- ## Frequently Asked Questions ### Can foreigners buy property in Portugal? Yes. There are no restrictions on foreign nationals buying property in Portugal. You will need a Portuguese NIF (tax number) and typically a local bank account. ### How long does the buying process take? Typically 2–4 months from offer acceptance to completion. The CPCV is usually signed within 2–4 weeks, with completion (Escritura) 1–3 months later. ### What is a CPCV? The Contrato Promessa de Compra e Venda is a legally binding purchase agreement signed before the final deed. It requires a 10–30% deposit. If the buyer withdraws, the deposit is forfeited; if the seller withdraws, double the deposit must be returned. ### What is an Escritura? The Escritura is the final deed signing at a Portuguese notary that officially transfers property ownership to the buyer. ### Do I need a lawyer to buy property in Portugal? While not legally required, it is strongly recommended. A lawyer conducts due diligence, reviews contracts, and protects your interests throughout the transaction. ### What taxes do I pay when buying property in Portugal? IMT (property transfer tax, 6–7.5%), Stamp Duty (0.8%), notary/registration fees (~€1,000–2,000), and legal fees (1–1.5%). Total: approximately 8–10% of purchase price. ### Can I get a mortgage as a non-resident? Yes. Portuguese banks typically offer 60–70% LTV (loan-to-value) for non-residents, with competitive interest rates. The process takes 4–8 weeks. ### What is the IMI tax? IMI (Imposto Municipal sobre Imóveis) is the annual municipal property tax, calculated at 0.3–0.45% of the property's tax value (VPT). VPT is typically lower than market value. ### What is AIMI? AIMI (Adicional ao IMI) is an additional property tax charged annually when the total tax value of all urban properties owned by an individual exceeds €600,000. ### Is Portugal safe for property investment? Portugal consistently ranks among the safest countries in the world (Global Peace Index). The Algarve has a stable luxury property market with strong international demand, particularly from UK, German, French, and Scandinavian buyers. --- ## Portuguese Property Glossary — Key Terms - **AIMI**: Additional Municipal Property Tax on combined property values exceeding €600,000 - **AMI License**: Mandatory license for real estate agents in Portugal, issued by IMPIC - **Caderneta Predial**: Property tax document from the Tax Authority with fiscal details and VPT - **Câmara Municipal**: Local municipal council responsible for building permits and urban planning - **Capital Gains Tax (Mais-Valias)**: Tax on property sale profits; 50% of gains are taxable - **Certidão Permanente**: Online land registry certificate with ownership and encumbrance details - **CPCV**: Binding purchase agreement requiring 10–30% deposit, signed before the Escritura - **Conservatória**: Land Registry office where property ownership is officially recorded - **Escritura**: Final deed signing at a notary that transfers property ownership - **Finanças**: Portuguese Tax and Customs Authority - **Fiscal Representative**: Required tax representative for non-EU resident property owners - **Fração Autónoma**: Individual unit within a condominium, identified by letter (A, B, C) - **Golden Visa**: Residency-by-investment programme; real estate no longer qualifies since Oct 2023 - **Habitation Licence**: Certificate confirming a property meets legal requirements for residential use - **Hipoteca**: Mortgage registered against a property; foreign buyers typically get 60–70% LTV - **IFICI**: Tax incentive replacing NHR, offering 20% flat rate for qualifying professionals - **IMI**: Annual municipal property tax at 0.3–0.45% of tax value - **IMT**: One-time property transfer tax at 6–7.5% depending on value - **Moradia**: Portuguese term for a detached house or villa - **NIF**: Portuguese Tax Identification Number, required for all property transactions - **NHR**: Former Non-Habitual Resident tax regime, closed to new applicants since 2024 - **PDM**: Municipal Master Plan defining zoning and building regulations - **PIP**: Request for Prior Information on a building project's feasibility - **Procuração**: Power of Attorney authorising a representative for property transactions - **Stamp Duty (Imposto do Selo)**: One-time 0.8% tax on property purchase price - **VPT**: Tax value of a property, used to calculate IMI, IMT, and stamp duty --- ## Contact For property enquiries: info@qp.pt | +351 289 396 073 Website: https://quintaproperty.com Available in: English, Portuguese, French, German