Invest in a Slice of Madeira Property
Country: Madeira
Madeira, a Portuguese island located in the mid Atlantic Ocean, is starting to shake off its blue-rinse brigade reputation and attract more contemporary tourists and property investors. Since the launch of budget airlines to the tropical island in 2007, Madeira has been identified as an emerging market with strong potential for growth. Famed for its wine and cake, sub tropical climate, levada walks and for producing the best football player in the world, Cristiano Ronaldo, Madeira has long appealed to a high number of year-round tourists from around the world. Over the last ten years the government has heavily invested in the infrastructure of the island, building an intricate system of tunnels and have drawn up further plans to upgrade the roads making it easy to access all parts of the island. This progressive Portuguese island has many hidden secrets for investors and the local government is now keen to promote them. The relaxed nature of Madeira has long attracted the older generation seeking tranquillity. But the island also offers a range of water sporting facilities for those adrenalin junkies. The ISA World Surf championships have been hosted on the islands which are better known to be held in areas such as Hawaii. Paul do Mar region of the island is respected throughout the surf community as it offers eight metre high waves and fantastic tubular tunnels. Other such activities include the ‘Rali Vinho da Madeira’ motor racing event, with cars tearing around at break neck speeds, whale watching, rock climbing and deep sea fishing, with plenty of Atlantic Blue Marlin, Big Eye Tuna, Longbill and Mediterranean Spearfish around its waters. Located just three and a half hours flying time from the UK, Madeira’s forests, in parts, are a mix of banana trees and eucalyptus which is native only to Australia and the landscape is cared for by the residents who inhabit it. Consequently, it comes as no surprise that famous leaders such as Winston Churchill and explorers like Christopher Columbus fell in love with this jewel and made it their place of residence in times gone by. Property on the island has not been overdeveloped, compared to neighbouring European countries and offers a wide selection from modern day villas, apartments and traditional homes with a rural feel. The local community are not as bullish, compared to the UK when it comes to sale and purchase of property, creating a stable and sustainable market place. This is supported by tight building restrictions which preserve the island creating demand near natural beauty spots. The impact of the global financial crash on Madeira has been minimal compared to most other European destinations. Property values on the island have remained stable during the recent global economic downturn, making it an attractive option for future investment. Michael Nascimento, the Director of Morgan Forbes, is developing a five-star Hotel in the Ponto do Pargo region of the Island. Morgan Forbes, a low risk commissionable broker ship that specialises in asset backed investments, has already been given permission to build a high-end apart-hotel scheme, with off-plan units, available on a share certificate basis, offered for a deposit of as little as £5,750, with a low total investment of just £15,620. These prices will increase on the Monday the 30th of November 09 with the official Launch of Phase 3, locking in now would be a shrewd move. Morgan Forbes five-star project could offer the perfect mix, with a forecasted return on investment of 142.7%, taking advantage of the Islands buoyant tourism trade and stable property market. Official Government statistics reported that in 2008 the average occupancy for five-star hotel developments across the island was 91.1% and in some parts as high as 99%. Following on from the success of the recently constructed Palheiro Golf resort on the island, planning consent has been award for the construction of a new Nick Faldo designed 27-hole golf resort in the Ponta do Pargo. Construction of the golf course, which will be built to PGA standards, will commence in just two weeks time. Dr. Paulo Sousa who is the minister of Madeira has indicated that there are no plans in the near future for any other hotel or apartment projects around the golf course other than the Morgan Forbes project making this a highly attractable investment. Madeira is also supported by the extension of its airport to allow more flights and larger planes to land on a daily basis. Easy Jet land a minimum of three flights a day and other airlines are extending their routes to cater for the ever growing demand for the island. There are many factors that discerning investors should look to before investing their money abroad. Madeira offers a stable economy, strong currency, low price vulnerability, a buoyant tourism market and an ever need to punch above its weight with world class events. Madeira’s prospects moving forward look positive.
Mohammed Choudhury
There's also a range of articles for you to read about buying property in Portugal:
As well as our overseas news stories affecting the property market in Madeira .
Or view our range of property for sale in Madeira.
See Also: Morgan Forbes, Overseas property investment
Some information contained within this article may have changed since it was first published. Homes Overseas strongly advises you to seek current legal and financial advise from a qualified professional.
Some properties in Madeira
|
|
|
|
Price: €145,000 EUR
|
Type: Apartment
|
Bedrooms: 2
|
|
|
Description: Excellent apartment
Ref. MA-APT-SC-0003
Region: Silver Coast/ Costa de Prata
Localization: Santa Cruz surroundings
5 minutes driving to the beach
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: €315,000 EUR
|
Type: House
|
Bedrooms: 4
|
|
|
Great Villa of Santa Cruz
Ref. FC-VIV-0008
Region: Estremadura / Silver Coast
Localization: Santa Cruz beach
Total plot area: approx. 357 m2
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: €325,000
|
Type: Apartment
|
Bedrooms: 1
|
|
|
A luxury one-bedroom apartment located in the award-winning Palheiro Village on the Palheiro Estate, with panoramic views over the Bay of Funchal and the Atlantic.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: €430,000
|
Type: Apartment
|
Bedrooms: 2
|
|
|
The new private condominium of Palheiro Village offers just 79 apartments and villas, all designed and built to high quality standards. Luxury, comfort and practicality shaped the specification for these properties, which includes: 220
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: €730,000
|
Type: Villa
|
Bedrooms: 3
|
|
|
A luxury three-bedroom villa located in the award-winning Palheiro Village on the Palheiro Estate, with panoramic views over the Bay of Funchal and the Atlantic.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: €785,000
|
Type: Villa
|
Bedrooms: 3
|
|
|
A luxury three-bedroom villa located in the award-winning Palheiro Village on the Palheiro Estate, with panoramic views over the Bay of Funchal and the Atlantic.
|
|
View details | Enquire further
|
|
|
|
|
|
|
Price: €920,000
|
Type: Villa
|
Bedrooms: 3
|
|
|
A luxury three-bedroom villa located in the award-winning Palheiro Village on the Palheiro Estate, with panoramic views over the Bay of Funchal and the Atlantic.
|
|
View details | Enquire further
|
|
|
|
