Selling Algarve Property, Better
Our expert knowledge of the Algarve region, directory of local contacts and unmatched personalised service make us the best choice to sell your home.
SELL your home SUCCESSFULLY WITH
M I PROPErTIES
Every successful sale starts with a good story.
Let us tell yours by unlocking your property’s true potential through our complimentary, non-binding valuation.
FILL OUT THE FORM BELOW TO GET STARTED
We aim to respond to all queries within 24 hours.
WHY SELL WITH M I PROPERTIES
At M I PROPERTIES, we understand that every unique property requires its own, equally unique strategy.
That’s why we take pride in personally matching you with the best agent for you and your Algarve real estate journey. From pinpointing exactly what sets your property apart and crafting a strategy tailored to its strengths, to assigning a trusted legal advisor; your MIP Expert is ready to answer all of your requirements.
Selling with M I PROPERTIES also means accessing a global network of buyers across industry-leading platforms, giving you peace of mind that your property is being promoted in all the right places.
PERSONALISED SERVICE
Our in-house experts will personally guide you through every stage of the sales process. Plus, gain access to our exclusive directory of trusted local professionals who can assist you with everything – from lawyers to aftersales.
METICULOUS VALUATION
Our precise valuations are based on years of expertise, extensive market data, and local insights.
INDIVIDUAL MARKETING
We value the uniqueness of your property, and craft a marketing strategy to attract the attention it deserves.
EXCLUSIVE CLIENTS
By harnessing the reach of our international network, and implementing our qualified buyer vetting process, we share your property with a curated selection of interested buyers.
MIP Exclusives
For those who choose to list exclusively with M I PROPERTIES, we go a step further. MIP Exclusive listings receive enhanced marketing exposure and premium presentation designed to achieve the best possible results.
Our MIP Exclusive clients enjoy, at no extra cost:
Professional photographs
Drone Video
3D Virtual Tour
Detailed Floor Plan
Featured Promotion
PERFORMANCE REPORTS
Why List Exclusively
With flexible exclusivity terms and a results-driven approach, listing with one agency, like M I PROPERTIES, is the most effective way to give your property an edge and ensure it stands out where it matters most.
Keen to find out more ?
Frequently Asked questions
HOW LONG WILL IT TAKE TO SELL MY PROPERTY ?
In the Algarve, selling a property privately typically takes between one to six months, depending on seasonality. The more accurately your property’s market value is determined from the very beginning (using market data and local insights), the faster and smoother the selling process will be.
MIP TIP: If you’re keen to sell your property quickly, avoid setting the selling price too high. The higher the price in comparaison to the property evaluation, the longer it will take to sell the property.
SHOULD I SELL MY PROPERTY WITH A REAL ESTATE AGENCY ?
Selling your property with an agency saves valuable time, effort, and uncertainty. While a professional service fee applies, you’ll benefit from a seamless, expertly managed experience that maximises your property’s visibility and value.
Our M I PROPERTIES Experts:
- Know the Algarve market inside and out, providing an accurate, evidence-based valuation of your property.
- Recognise and highlight your property’s full potential, taking every unique feature and detail into account.
- Appreciate the individuality and story behind each home, uncovering hidden qualities that add value.
- Create professional, high-impact marketing materials, including compelling descriptions, high-quality photography, 3D virtual tours, and clear floor plans.
- Develop a bespoke, results-driven marketing strategy, using carefully selected local and international channels.
- Access an extensive network of qualified buyers, both nationally and globally, through our trusted database and partnerships.
- Handle all enquiries and communication with prospective buyers, always representing your best interests.
- Manage negotiations confidently and transparently, ensuring you achieve the strongest possible outcome.
- Conduct professional viewings, focusing on genuine, qualified leads to find the right buyer efficiently.
- Oversee the entire closing process, reviewing documentation and coordinating with the notary to ensure a smooth, secure transaction.
MIP TIP: When choosing an agency, consider their local knowledge, in-house expertise, marketing strategy, and responsiveness. Remember, the people you choose to sell your property are the same people who will represent it to potential buyers – they need to make a great impression.
WHAT DOCUMENTS ARE REQUIRED TO SELL MY PROPERTY ?
The following documents are required to sell your property:
- Identification document of the owner(s)
- Permanent Land Registry Certificate (learn more)
- Urban Property Register
- Licence to Use or Exemption from Licence to Use
- Property plan
- Energy Certification (learn more)
- Technical Housing Sheet (FTH)
Do I have to pay taxes on the sale proceeds ?
Yes. If you sell your property in Portugal for more than the price you originally paid, you are required to pay income tax on the capital gain (Imposto sobre o Rendimento das Pessoas Singulares – IRPF).
FOR PORTUGUESE RESIDENTS:
Capital gains are taxed progressively, based on the amount of profit after deducting eligible purchase and selling costs. Current tax rates (as of 2023) are as follows:
- 19% on gains up to €6,000
- 21% on gains between €6,000 and €50,000
- 23% on gains between €50,000 and €200,000
- 26% on gains above €200,000
FOR NON PORTUGUESE RESIDENTS
When a non-resident sells property in Portugal, the buyer must withhold 3% of the total sale price and pay it to the Portuguese tax authorities within one month using Form 211. A copy of this form is then given to the seller, who can deduct the withheld amount when declaring their capital gain.
Non-residents are generally taxed on their capital gains at rates between 19% and 24%, depending on their country of residence.
ADDITIONAL NOTES
Both residents and non-residents are also required to pay municipal capital gains tax to the local municipality where the property is located.
MIP TIP: Keep detailed records of your property expenses — including purchase costs, renovations, and agent fees. These can often be deducted from your capital gain, helping to reduce the total amount of tax you owe.
Can I sell my property with a tenant in residence ?
Yes, you can sell your property even if there is an existing rental agreement in place. However, it’s important to note that selling the property does not automatically terminate the tenant’s lease. The new owner will assume the role of landlord and must honour the terms of the existing tenancy agreement.
If the property is being purchased as an investment, an active tenancy is typically not a concern and may even be attractive to some buyers. However, for those who intend to live in the property themselves, an ongoing lease can be a disadvantage and may result in a lower sale price.
It’s also advisable to check whether the current tenant holds a right of first refusal (direito de preferência), which gives them the legal option to purchase the property before it is sold to another buyer.
MIP TIP: Before listing your property, review your rental contract and gather key details such as lease duration and notice periods. Clear information helps potential buyers make informed decisions and prevents delays later in the sales process.
How do I sell an inherited property ?
Yes, if you are the legal heir of a property, you are free to decide whether or not to sell it. However, before proceeding, you must first complete the adjudication and acceptance of inheritance and ensure that the property is properly registered in your name at the Land Registry (Registo Predial).
If there are multiple heirs, each must also complete the inheritance acceptance process. In this case, all heirs are considered co-owners, and the agreement of all parties is required before the property can be sold.
MIP TIP: To avoid delays, make sure all inheritance paperwork and registrations are finalised before listing the property. A clear legal title not only streamlines the sale but also builds buyer confidence and speeds up the transaction process.
Can I sell my property if it has not been paid off ?
Yes, you can sell your property even if there is an existing mortgage. In most cases, the outstanding mortgage balance is paid off using the proceeds from the sale. However, be aware that most banks charge a prepayment penalty when a mortgage is settled before the end of its term.
There are ways to reduce or avoid these penalties. For example, if you plan to purchase another property around the same time, you may be able to transfer the mortgage to the new property, a process often referred to as a “property exchange.” Alternatively, if the buyer agrees to take over your existing mortgage, known as a “debtor exchange,” the loan can be transferred without early repayment fees, subject to the bank’s approval.
MIP TIP: Speak with your bank early in the selling process to understand your repayment options and potential penalties. A little advance planning can save you both time and money, and help you negotiate more effectively with potential buyers.
WE LIST OUR PROPERTIES ON IDEALISTA, JAMESEDITION AND KYERO.
Have we missed something ?
Reach out to us with your questions.
book a valuation
We cover all of the Algarve
Or, if you’d prefer, get in touch!