Madeira, an autonomous region of Portugal, is an archipelago comprising four islands off the northwest coast of Africa. Known for its namesake wine and warm, subtropical climate, it's a year-round resort, famed for its natural scenery and annual New Year celebrations featuring fireworks.
Madeira has a subtropical climate with mild temperatures throughout the year. The average temperature in July is around 22.7°C (72.9°F), with an average high of 26.3°C (79.3°F) and an average low of 19.1°C (66.4°F). The island receives an average of 13 hours of daylight in July.
The real estate market in Madeira has been experiencing a significant boom in recent years. The demand for real estate in Madeira is high, and prices have increased dramatically in recent years. Luxury residential projects in Funchal have sold for as much as 9,000 euros per square meter - same as Lisbon city center apartment prices . The Portuguese government has been trying to limit short-term rentals in the mainland, but this restriction does not apply to Madeira and the Azores, making these islands even more attractive for real estate investment.
Tourism is a major industry in Madeira. In 2023, the island welcomed over 1.5 million tourists, a significant increase from the previous year.Tourism in Madeira has been on the rise in 2023. The number of tourists visiting Madeira increased by 9.3% in the first quarter of 2023 compared to the same period in 2022. The majority of tourists were from the United Kingdom, followed by Germany, France, and Spain However, there was also a notable increase in tourists from North America, with direct flights from major cities contributing to this growth. The average length of stay was 7.3 days. The increase in tourism is attributed to the island's attractive climate, beautiful landscapes, and great health system and safety measures.
Madeira is well-connected with the rest of the world. There are direct flights from many European cities, including London, Berlin, and Lisbon, as well as from North American cities like New York and Toronto. This makes Madeira an accessible destination for tourists and potential real estate buyers from around the globe .
Madeira has a rich history and has been a popular destination for many famous figures. Winston Churchill, the former Prime Minister of the United Kingdom, spent a significant amount of time in Madeira and even painted several of its landscapes. The island is also the birthplace of Cristiano Ronaldo, one of the most famous footballers in the world, who has a museum dedicated to him in Funchal.
Madeira is not a new destination; it has always been a place of luxury and high standards. The Madeira wine, for instance, is a high-quality fortified wine that has been produced on the island for centuries and is enjoyed by wine connoisseurs worldwide.
In conclusion, Madeira offers a unique combination of natural beauty, a warm climate, rich history, and a booming real estate market. Whether you're a potential homebuyer or a tourist, Madeira has something to offer everyone.
At DRP Advisers, our team of experienced professionals will guide you through the investment process, ensuring compliance with all legal requirements. We understand the importance of the Golden Visa program and its potential impact on your future. Rest assured, we are dedicated to helping you navigate the investment landscape in Madeira and achieve your residency goals.
Don't miss out on this extraordinary opportunity.
Contact DRP Advisers today and let us help you make the most of your investment in Madeira before the new law takes effect.