What returns do Algarve rental properties actually deliver after costs?

Less than the brochure: after management, licensing, seasonality, maintenance, Portuguese tax on the income and Norwegian reporting, realistic net yields are typically mid-single-digit — solid, not spectacular. The brochure number assumes full occupancy, no management and no taxes, which describes nobody. The honest case for Algarve property is total return plus personal use, not headline yield. Demand operating accounts, not projections, before any acquisition.