Located near the North Atlantic Ocean, Madeira is an archipelago that is also an autonomous region of Portugal. The region has a very mild subtropical climate and is popular for its world-class resorts, extensive wildlife, UNESCO World Heritage Site, and warm and welcoming population. The island is also known for its attractive real estate options and is one of the most profitable for foreign real estate investment. In this article, we will help you understand how to find a real estate agent in Madeira island.
Real Estate Market in Madeira
The island of Madeira was first discovered by the Portuguese in the year 1418. Currently, the island has a population of 255,000 people. Out of which, more than 75 percent of the population has settled down in the southern part of the island, where the climate is much better and more stable than other areas. Funchal, the capital of the island, is also located in the south, and the city is populated with restaurants, coffee shops, luxurious properties, and other popular facilities.
Benefits of real estate investment in Madeira
The island is steadily developing and emerging as one of the most profitable real estate investment locations in the world.
The island has a large footfall of tourists, making it more attractive to foreign investors.
Foreign investors can obtain residency through real estate investment in Madeira via the Portugal Golden Visa program.
The island of Madeira has a very negligible crime rate, making it one of the safest places to live in the world.
The Non-Habitual Residence Scheme (NHR) of Portugal is an attractive program that provides residents with significant tax benefits for up to a period of ten years.
The real estate market in Madeira has been witnessing a positive growth.
In comparison to other regions of Portugal, real estate prices in Madeira are low.
Real Estate Agents in Madeira
Over the years, expats across the globe have been choosing Portugal as their preferred country to settle. As per the Global Peace Index, the country has been declared one of the safest places to live and work. Naturally, the island of Madeira has therefore emerged as a dream destination for realtors and clients both.
When it comes to buying or selling a property in Madeira, please make sure to get in touch with a real estate agent who will help you fast-tracking the entire process. Agencies with real estate services help you in navigating the entire procedure – from choosing the right property to estimating the price and other formalities. Hiring a real estate agent in Madeira will make your life much easier.
Madeira Real Estate Cost
Madeira real estate has grown in a positive direction in spite of the COVID-19 pandemic. Depending on the location and the type of property, the price may vary on the island. For instance, the capital city of Funchal has the most expensive properties on the island. The average price of a property in the city is around €2366.67 per square meter, whereas the cost of properties was considerably much lower on other parts of the island. So to determine whether the price of your property is fair, make sure to have a real estate agent by your side.
Madeira Real Estate Locations
If you are planning to buy a property in Madeira, you should consider investing in the following areas.
Funchal, the capital city, is one of the best places to buy luxurious property on Madeira island. From attractive real estate properties, Michelin-star restaurants, and five-star hotels to popular tourist destinations and other economic institutions.
In addition to the capital city, places like Santa Cruz, Câmara de Lobos, and Machico in Madeira are great areas to invest in good properties.
You should choose your place according to your budget and property preference. If you are planning to invest in a property on Madeira island, you should get in touch with your real estate agent immediately to get the best deal for your property. But before you invest in any property, please make sure to do your research and complete all due diligence checks to understand the legitimacy of your property.
Why do you need a real estate agent in Madeira?
It is essential to get a real estate agent in Madeira as they will help in obtaining a property on the island seamlessly. Whether choosing the property, deciding on the budget, or purchasing the property, a realtor will greatly help in carrying out the entire process. Although you should keep in mind that hiring real estate agents might be expensive, the service will benefit you in the long term.
If you work with a reputed real estate agency, you will benefit from their extensive knowledge in purchasing and selling property on Madeira island. Good real estate agents have access to a large real estate database that can help you decide on your real estate investment. In addition, a real estate agent can be beneficial if you are planning to buy a property or rent it out on the island, as the agents can work on your behalf and deal with all the formalities.
A real estate agent also helps you complete all legal paperwork regarding your real estate investment. The agency can act as your single point of contact and guide you in finalizing your investment deal and other legalities that are associated with buying your new home.
Madeira Real Estate – Quick Overview
If you are an expat looking for a peaceful and safe place to settle, then Madeira island can be your perfect choice. The region is home to beautiful properties and apartments, fantastic food, and a large expat community.
Lifestyle – If you are living in Madeira, you will get to enjoy a relaxed lifestyle. Whether it is going hiking, yoga, golfing, or enjoying diving, you can choose from a wide array of options for recreational purposes. The island has a rich and diverse culture, where you get to enjoy various art and music festivals, museum experiences, and other exhibitions. All these factors make Madeira island a great place to live.
Retirement in Madeira- Backed with healthcare and transport facilities, the island is the perfect place for your post-retirement plans. Since the island is home to a large expat community, retirees choosing the island as their retirement place will feel secure. Retirees on the island also have access to the Non-Habitual Residence (NHR) scheme and can enjoy significant tax benefits for a period of up to ten years.
Healthcare in Madeira- The healthcare facilities on the island are quite good. Madeira has a number of health centers on and around the island. Dr. Nélio Mendonça Hospital on Madeira island is one of the most popular hospitals on the island. Some of these hospitals also have emergency facilities. The island has the fourth-best doctor-to-patient ratio in Europe, making it one of the best healthcare systems in the continent.
Education in Madeira- The island has a good education system. The island has two international schools – the International School of Madeira and the International Sharing School of Madeira. The fees of these schools differ based on the infrastructure provided by the educational institutions.
Transportation in Madeira- The public transport system in Madeira is excellent. But still, the best way to enjoy and experience the island is by car. You can also choose to travel on a ferry to commute betweenMadeira and Porto Santo.
Get in Touch with Goldcrest
You can contact Goldcrest for all your property-related issues. Based out of Portugal, Goldcrest is a local buyer’s agent that can help you in addressing your real estate queries. At Goldcrest, we are focused on finding the perfect property for you, based on your needs.
Since Goldcrest is a buyer’s agent, we will work exclusively for the buyer, and be thinking of their best interests. We guide you through the process, from sourcing through to acquisition. In addition to this, a buyer’s agent also has access to listings and databases that can be found nowhere in the market. While a real estate agent works on commission for a property seller and can obtain higher profits for higher sales, a buyer’s agent works solely on behalf of the buyer. So if you are planning to buy a property in Madeira, consider choosing Goldcrest.
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Frequently Asked Questions about Finding a Real Estate Agent in Madeira
How do I find a real estate agent in Madeira?
To find a real estate agent in Madeira, you can start by searching for real estate agents online. After doing your research and conversing with your potential real estate agents, you can finalize your option.
Where will I find cheap Madeira properties for sale?
In areas like Porto Santo, Ribeira Brava, Porto Moniz, and Santa Cruz, you will find affordable properties for sale in Madeira.
Is real estate expensive in Madeira?
If you are planning to invest in the capital city of Funchal, the cost of real estate will be on the higher side. But on the other hand, if you move away from the capital, then prices of real estate will be comparatively lower.
