DRP Advisers in Madeira: Madeira real estate prices grew 20% in the last year
The beautiful Portuguese island of Madeira was discovered in 1418 and is made up of 4 islands, the habitable main islands of Madeira and Porto Santo and the uninhabited islands of Selvagens and Desertas. The birthplace of Portugal’s most famous, Ronaldo, who in recent years bought a 7-story mansion here, Madeira is easily accessible from all main European cities and just a 1 hour 30 minute flight from Lisbon and 2 hours from Porto. The capital of Madeira is Funchal where the airport is home to several charter and low-cost airlines which fly regularly to other European cities. The Port of Funchal offers a modern harbour where Madeira is a common stop for many cruise liners and is well-connected to other Portuguese and European ports. There is a strong demand to resume ferry services which used to connect Madeira to mainland and there is broad expectation that this will happen in the future.
The cost of living in Portugal is the lowest in Europe and the average cost of living in Madeira is slightly lower than mainland Portugal. Located just 310 miles from the African coast Madeira hosts a sub-tropical climate consisting of long hot dry summer days with the temperature averaging between 67 and 77 degrees daily.
Madeira is experiencing one of the largest house price increases ever in the country with prices surging by over 20%. It’s not just the sale prices that are booming, rents also escalated by 19% in April alone making it an ideal investment in Portugal.
Renata Abulaesova, Senior Consultant of DRP Advisers state: “It has come as no surprise as to why demand in Madeira is growing. With Covid and lockdowns showing us that we can work from anywhere, remote working is here to stay and will only increase. This leads many people to look for a better quality of life, which usually includes more sunshine and a cheaper cost of living. The cost of living in Portugal is one of if not the lowest in Europe and Madeira is slightly lower than the mainland. Madeira offers unique conditions when obtaining a Golden visa through residential property investment on the island and people are becoming more aware of the unique and desirable opportunity”
Madeira is one of the few regions where purchasing a property makes you eligible for a Portugal’s Golden visa 2022. The unique Golden visa conditions along with the delightful offerings the of the island is why the prices have rocketed. To be eligible for thePortugal Golden visa in Madeira, you need to purchase real estate for €500k or if the construction was built at least 30 years ago or located in an urban rehabilitation area then the investment falls significantly to just €350k. (DRP has properties qulified for €350k Golden Visa)
You can check out Portugal Golden visa properties here
About DRP Advisers
DRP Advisers are the leading Portuguese real estate consultancy for locals and expats around the world. Their offerings include everything from real estate investment, Golden visa programs, NHR application, lawyers’ guidelines, and in-depth advisory services. DRP Advisers rapidly grew into a one-stop shop solution for properties and investments. Their unique method does not stop at property and investments as their international team of experts will custom tailor their services to meet the clients’ needs and guide them through each step of their new home or investment process. With their wealth of experience and trained specialists they will even project manage the entire process on their clients’ behalf.
They opened their flagship office in 2015 in Portugal’s capital, Lisbon and due to the increased demand in the market they branched out their offerings by opening subsidiary office in the beautiful island of Madeira. Here they were able to welcome international clients looking for real estate investment opportunities and Golden visa properties and services.
Contact DRP Advisers for more information about relocation, Golden Visa and real estate in Portugal.
WE HAVE THE RIGHT PROJECT FOR YOU, LET’S DISCUSS
+351 912 585 085
More Articles
