For those overseas property investors wanting to escape the hustle and bustle, the maturity of Madeira might be just what they are looking for.
Madeira doesn’t attract the 18-30s crowd and offers little in the way of rowdy bars and nightclubs, but for those looking to fit into the relaxed Madeiran way of life, with an abundance of cafes, quiet bars and beautiful scenery it could be the perfect place to invest.
The subtropical Madeira Islands are located in the Atlantic 500 miles south west of the Algarve and 280 miles from the African coast, with Madeira being the largest of the four islands.
With a year-round temperate climate offering average temperatures ranging from 18 degrees in February to 27 degrees in August, Madeira works perfectly for both summer and winter visits, therefore offering year-round income for overseas property investors.
35 direct UK flights per week serve the island all year round, making it a practical destination even in the winter months.
Whilst there are very few sandy beaches in Madeira, naturally formed rocky lidos are popular with tourists, who tend to have an average age of around 40 years and over, attracted by the relaxed lifestyle the island has to offer.
Property can be expensive in madeira, particularly in the popular capital of Funchal, so many investors look to the countryside outside the capital for more affordable options.
The village of Ponta do Sol is a perfect example, located 20 minutes from Funchal to the south west, enjoying the island’s longest sunshine hours, fabulous sunsets, and dramatic coastal views.
There are many property options to buy in Madeira. Older properties are available to renovate, or a two-bedroom apartment around Funchal could be purchased for around €300,000.
Another option becoming more popular is to purchase a new build villa with pool on a premium plot in the countryside outside Funchal, where prices are more affordable.
A luxury bespoke villa of around 250 square metres built to a high standard in the previously mentioned Ponta do Sol area can be purchased for around €400,000 including the land, enabling the purchaser to get exactly the finish they want.
With a year-round temperate climate and reputation as a safe destination, it is no surprise that Madeira is the world’s second most visited island resort destination. Tourism was up by 10 per cent in 2017, with the largest area of growth income seen for short-term holiday lets in the countryside.
Overseas property investors can look forward to reliable year-round income from their investment in this Portuguese island.