Updated: April 5, 2024
The captivating island of Madeira has become a highly sought-after location for investors, expats, and tourists, whether it is the sublime weather, outrageous landscapes, or calm pace of life. Located near the North Atlantic Ocean, Madeira is an archipelago that is also an autonomous region of Portugal.
The island is also known for its attractive real estate options and is one of the most profitable for foreign real estate investment. The services of a real estate agent in Madeira can make buying your dream property on this scenic island less challenging, particularly if you are buying from another country.
In this article, we will help you understand how to find the best real estate agent in Madeira and explore the various benefits of hiring one for your real estate search.
An Introduction to the Madeira Real Estate Market
If you are an expat looking for a peaceful and safe place to settle, then Madeira could be the perfect choice. The region is home to beautiful properties and apartments, fantastic food, and a large expat community. This European island is a great place for individuals looking for premier quality properties because it is one of the key regions offering luxury properties in Portugal. Let’s explore more about the property types Madeira offers and where you can find them for rent or sale.
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. Even though it is not a requirement, you should consider acquiring the service of an experienced team of the best real estate agents in Funchal, Madeira, who can offer indispensable knowledge and expertise in selling real estate in this sought after location. In addition to the capital city, places like Santa Cruz, Câmara de Lobos, and Machico in Madeira are great areas to invest in the land, house, or property type of your choosing.
The Price of Properties in Madeira
Madeira real estate has grown in a positive direction in the past few years. 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 for Madeira is €2,965 per square meter. To determine whether the price of your property is fair, make sure to have a Madeira realtor by your side. A property buyer’s agent, such as Goldcrest, offers real estate services that also include assisting with the negotiation stages of the purchase, ensuring that you can get the best possible deal for the property.
Why Do You Need a Real Estate Agent in Madeira?
Over the years, expats across the world have been choosing Portugal as their preferred country to settle, not least because of the booming Portuguese real estate market, fabulous climate, and high quality of life. As per the Global Peace Index, the country has been declared one of the safest places to live and work.
Hiring a real estate agent for expats in Madeira will make a world of difference in the process of buying the house of your dreams. Moreover, the service of an English-speaking realtor in Portugal will help you fast-track the entire process with their knowledge of the Madeira Island real estate market and by completely catering to their client’s needs by being focused, having passion, and doing the hard work. Whether you’re still searching for the perfect property or have already decided to purchase one, a realtor will greatly help carry out the entire process. Here are the benefits they provide you:
Expertise and access
If you work with a top real estate agent in Madeira, you will benefit from their extensive knowledge in purchasing and selling property in the Madeira Island market. Good real estate agents have access to an extensive real estate database that can help you decide on your real estate investment. In addition, a Madeira realtor can be beneficial if you are planning to buy a property or rent it out on the island, as the agents can work on behalf of clients and deal with all the formalities of property management.
Simplifying legalities and financial processes
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 the investment deal of your dreams and other legalities associated with buying your new home or selling your property if you choose. In this regard, the client service the team of real estate professionals will provide can also include:
- Finalizing legal property paperwork
- Liaising with a Portugal real estate lawyer, the seller, etc.
- Completing property checks to ensure there is no debt attached
- Checking that the property was built legally
- Background checks on the owner/s of the property is/are and whether they have the right to sell it
- Drawing up and signing purchase contracts
Personalized services for clients
An experienced team of real estate agents will streamline the purchasing process and manage viewings, negotiations, and paperwork to ensure a smooth transaction. They anticipate issues and resolve them proactively, their good service providing a hassle-free journey from property search to property management if you’re planning on renting the house out.
Additionally, real estate professionals like buyer’s agents can use their experience and negotiation skills on your behalf, ensuring that you get the best possible terms and prices without the emotional back-and-forth and providing peace of mind. When it comes to a realty professionals network, it includes not just potential buyers and sellers but also trusted professionals like home inspectors, appraisers, contractors, and attorneys. Their recommendations can save you time and money.
How to Find a Real Estate Agent in Madeira
Here are a few simple steps to kickstart your quest for a skilled real estate agent in Madeira to help you find your new home or dream investment property.
Decide on your real estate needs
Create a checklist of your unique needs, and once you’re ready, conduct online research to find a real estate agent company offering services that match your criteria. Consider things like:
- Budget constraints
- Where you want the property to be located in the Madeira Archipelago
- Whether you are looking for land to develop or a house
- Proximity to amenities like healthcare and shopping centers, international schools in Madeira, and the capital city
Searching for a Madeira real estate market consultant
The real estate market in Portugal is fragmented, and there is nowhere you will find all the featured listings in one place. You can begin your search for local real estate-specific websites, of which there are many Madeira property search services. Look for local real estate agencies or firms with good reviews and a strong presence in Madeira. You could also ask for recommendations from your personal network who have experience with real estate transactions in Madeira and check on online expat groups and forums.
How to evaluate potential property partners
The real estate agency you choose to work with will serve as your guide. They will simplify legal complexities and communicate with you so that all aspects of your property transaction are understood and properly managed. For a successful outcome you need to ensure that they have in-depth knowledge of the real estate market and have worked with clients that had similar requirements to yours. You could use this checklist to systematically evaluate critical criteria to help you make an informed decision when hiring a Madeira realtor or company and even create your own.
Criteria | Evaluation |
Language Proficiency | Do they speak English? |
Experience with International Buyers | Can they provide project data proving experience? |
Property Market Insight | Do they have an exceptional understanding of the Portuguese real estate market to provide expert investment advice and services? |
Focus on Real Estate in Portugal | Is their service focused on real estate in Portugal? |
Track Record of Excellence and Communication | Do they maintain contact and have a track record of excellence? |
Business Credentials | Do they have business credentials to share with clients? |
AMI License Number | Do they have an AMI license number? |
Alignment of Company Values | Do their company values align with your interests? |
What is the difference between a real estate agent and a buyer's agent?
Interacting with a real estate agent on the Madeira archipelago can be incredibly beneficial during the property acquisition process, yet it’s crucial to keep the following points in mind. Madeira estate agents primarily represent the seller’s interests, meaning they earn a larger commission when the sale price is higher.
Engaging a buyer’s agent, however, presents a different scenario. A buyer’s agent works exclusively on behalf of the buyer, diligently seeking options that align with your needs rather than prioritizing a higher commission. At Goldcrest, we remain fully dedicated to our clients until the property purchase is finalized and continue to offer support even after you have secured your dream home.
Take a look at the comprehensive guideline below showcasing each option’s advantages and potential drawbacks.
Factors | Real Estate Agent | Buyer's Agent |
Work Scope | Facilitates transactions for various parties | Exclusively works for the buyer throughout the process |
Search & Selection Assistance | May present options, but not solely focused on buyer's needs | Focuses on finding options that suit the buyer best |
Representation | Represents the seller's interests primarily | Solely represents the buyer's interests |
Conducting Legal Checks | May overlook some legal checks for buyer's benefit | Ensures thorough legal checks for buyer's protection |
Language Assistance | Language proficiency may vary | Proficient in the buyer's language |
Negotiation | Represents seller's interests in negotiation | Negotiates exclusively for buyer's benefit |
Documentation Handling | May not prioritize all necessary documentation | Ensures all required documentation is in order |
Time and Cost Savings | May not optimize for time and cost efficiency | Saves time and money by focusing on buyer's needs |
Commission | Earns higher commission for higher sale prices | Does not earn based on sale price, focused on buyer |
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 who can help you address 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 provide the best deals for you. We are your one-stop shop for real estate services in Portugal and guide you through the process, from sourcing to acquisition.
In addition, a buyer’s agent also has access to listings and databases that cannot be found elsewhere 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 plan to buy a property in Madeira, consider choosing Goldcrest.
Frequently Asked Questions about Finding a Real Estate Agent in Madeira
What are the services offered by Madeira estate agents?
Real estate agents in Madeira, Portugal, provide insights and knowledge about property purchases on the island. These professionals can help clients secure the best deals, bridge language barriers, and negotiate prices. You can find specialized Madeira real estate professionals like realtors or buyer’s agents who work solely on your behalf. There are also a number of luxury property real estate agents in Madeira, and even a real estate agents in Madeira that specialize in beach property sales.
How to find the best real estate agent in Madeira?
To find a top 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 options. You also have the option of working with a buyer’s agent like Goldcrest, who works solely on the buyers behalf and will ensure you find the perfect property at the best price without their focus being on earning a higher commission from the property sale.
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.
How do I find the best Madeira realtor?
After completing a basic online search, you can find some prospective real estate agents to work with. We also suggest speaking with friends and acquaintances who have worked with a real estate agent in Portugal for recommendations. When you have a couple in mind, remember to have your questions ready and be sure to ask them about their experience with working with foreign buyers. We also recommend working with a buyer’s agent such as Goldcrest who, unlike real estate agents, will work on behalf of you, the buyer, and will have your best interests at heart. These are some top tips to find the best real estate agency in Madeira. Note that an agency that may be good for one buyer may not be the right one for you.
What is the most credible real estate agent license?
The most credible real estate license is the AMI license issued by IMPIC. This license enables real estate agents to lawfully conduct business in Portugal.
How to Verify an Agent's Credentials?
Verifying a real estate agent’s credentials involves visiting the IMPIC website and checking out an AMI number link. Input the number and review the results. When you see the agency’s confirmation of registration and displayed license numbers, you will be sure that their services are verified.
What are typical real estate agent commission rates in Madeira?
Real estate agent commission rates will vary depending on the purchase price, but the agent will generally receive between 3 and 5 percent of the property price in commission.
