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Bank Repos in Portugal - Get In The Know!

Bank Repos in Portugal - Get In The Know!

Learn the savvy way to buy and invest in one of Europe’s fastest rising property markets!
 
 

Considering buying property in Portugal for its year round glorious climate and fabulous lifestyle but thinking it's too expensive?

Portugal's property prices have risen in the last few years, due in part to a needed re-balancing, and also for its recent popularity on the global stage for - quality of life, peacefulness, and its long, long list of awards for wines, beaches, tourism, and more. With all of this going for it who wouldn't want to buy property or relocate to Portugal? A holiday home to escape terrible weather and also to turn as a rental investment has proved advantageous for many, as have the tax and non residency incentives for those looking to retire and/or relocate. There is also the option of investing purely for rentals and benefiting from Portugal's very active tourism where even hotels have trouble keeping up with demand.  


Timing is everything with investments, and Portugal, especially the Algarve, is still well on the radar as a prime location for property investment bright spots. Even better news is that if you're looking for really savvy investments or have a limited budget there are still a number of good options and bank repossessions are one of them. Particularly with sterling's rise, friendly banks offering competitive interest rates, add Portugal's tax and non-habitual residency programs - and you've got a very attractive investment package.  

What's involved in purchasing a bank repossession in Portugal? First the biggest advantage is of course the value for price -  Bargain Hunters Unite! If needing help financing mortgages are available and the process is simplified as no evaluations are required. Property buyers can also benefit form interest rates as low as 1% for up to 90% of the purchase price. Time to make a purchase is expedited as banks already have the property valuations and documentation required for a proper sale. Purchase costs can be significantly lower due to expedited formalities since there is more clarity and transparency of ownership, resulting in a more efficient transfer of ownership. Have cash ready to invest? Banks consider this an additional advantage and will prioritise cash purchases of property.

How do you get started in buying bank repossessions in Portugal? Simply browse through some of the selection we have available below, get in touch, and we will help you with the rest.  Also sign up to be on Ideal Home's Bank Repo List and get updated lists as repossessions become available.  

 

QUARTEIRA REPOSSESSIONS
Located within a stones throw of popular Forte Novo beach and Quarteira's bustling promenade, with its endless choice of bars and restaurants, as well as all necessary amenities just a short walk away. These properties are everything you could possibly desire: spacious, modern and letting in all day sunshine lighting the apartments, giving them a bright and airy feeling. Being a private condominium there is no need to worry about privacy or security, and the beautiful gardens and communal pools complete this Algarvian haven.

1 bedroom, 2 bathroom apartment - €212,000 (IDH30543)
2 bedroom, 2 bathroom apartment - €310,000 (IDH30541)

Financing: 
With all bank repossessions buyers can enter with 10% deposit and get up to 90% financing for up to 40 years. Mortgage rates can be as low as 1%, depending on individual circumstances. 


Mortgage Simulation: 1 Bedroom, 35 years 
Purchase price: €212,000
Deposit: €21,200
Finance: €190,800
Interest rate: 1%
Term: 35 years
Monthly: €536


Mortgage simulations are for sample purposes and reflect approximate monthly financing costs. Buying costs such as taxes, legal fees, etc., will apply and typically range from 6-8% of property value. Individual circumstances may also impact figures noted. 

Rental Income Simulation: 2 Bedroom
Winter: €400 p/week
Spring: €500 p/week
Early summer: €850 p/week
High summer: €1200 p/week
Autumn: €850 p/week

Rental figures may vary depending on number of guests, exact location, quality fixtures and fittings. Appropriate setup licenses, insurance, etc, required for legal rentals, will apply. Ideal Homes property management and rental services ensures owners retain 90% of rental income. 

 

OCEAN FRONT REPOSSESSIONS
This development has so much more than just a great view. If you love islands, fantastic, fresh food and seafood, along with being just a ferry ride to some of the most revered and unspoiled island beaches in Portugal, then you may have just found your new home! This development is situated next to a historic fishing village, minutes walk to a new marina and one of the most famous seafood markets in the country. A number of units come equipped with appliances and all come prepared for heat/AC installation, along with modern media and telecommunications connections. All units have spacious balconies with beautiful views and a fantastic, heated roof top pool which is available to all tenants. 

2 Bedroom Apartments, Reduced from €260,000 to €170,000 (IDH8434)

Mortgage Simulation (2 Bedroom) 30 Years:
Purchase price: €170,000
Deposit: €17,000
Finance: €153,000
Interest rate: 1%
Term: 30 years
Monthly: €492

Rental Income Simulation (2 Bedroom): 
Approximate bookings based on seasonality. 
9 weeks at €1200 p/w 
4 weeks at €900 p/w
2 weeks at €600 p/w

 

CONVENT REPOSSESSIONS
Situated in East Algarve, the region's most unspoiled area, The Convento das Bernadas, overlooks the salt plains of Tavira and the Ria Formosa, a UN heritage protected zone. This remarkable property offers buyers a combination of modern design with historic charm, along with priceless peace and tranquillity. The exterior facade has been renovated respecting the convent’s original design, while the interior provides an array of different and modern layouts. The beauty of this development is no unit is exactly alike, providing buyers with the opportunity of having a truly unique property within the development. Want to see more? Take another video tour.  

2 bedroom apartments, varying in sizes, from €210,000 (IDH3345)

Mortgage Simulation: 2 Bedroom, 35 years 
Purchase price: €210,000
Deposit: €21,000
Finance: €189,000
Interest rate: 1%
Term: 35 years
Monthly: €534
 
Rental Income Simulation: 2 Bedroom
Winter: €400 p/week
Spring: €500 p/week
Early summer: €850 p/week
High summer: €1200 p/week
Autumn: €850 p/week

 
 
Competitive Mortgage Rates
Need financing for your real estate investment in Portugal? A variety of competitive Portuguese Mortgages are available with interest rates as low as 1.75%. Contact us for a free consultation.
 
Bespoke Viewing Trips  
Come on a viewing trip tailored to your exact property search specifications. We will introduce you to finance, tax, legal, property management specialists, and ensure all of your questions about buying overseas property are addressed book your trip! 
 
Rental & Property Management Services 
Buying a holiday home or rental investment and need help maintaining it in your absence? From helping with renovations, mail pickup to managing your rentals marketing and bookings we have you covered
 
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Ideia Fabulastica Mediacao Imobiliaria Unipessoal Lda
Vila Sol, Alto do Semino, Lote E, Loja 1, 2 + 3
Quarteira. Portugal. 8125-307


Tel: 0800 133 7644 / +351 289 513 434
Monday - Friday 9am-7pm, Saturday & Sunday 10am - 5pm

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