Can foreign nationals take out mortgage loans in Madeira?

Yes, non-residents can be issued a mortgage loan to buy property in Madeira. Special terms of mortgage lending for non-residents — the loan term up to 75 years of age for the eldest borrower and a down payment of 40–50%. The mortgage rate is a floating one, of 3% for residential properties and 5% for the commercial ones.

How does the property purchasing process take place in Madeira?

Before the purchase, it is necessary to hire a lawyer who would help you get the paperwork done. Having chosen the property, you need to open a local bank account and receive a tax identification number. First, a preliminary sales agreement is signed, a deposit equalling to 10–30% of the property value is placed, and the municipal taxes are paid. The deposit is non-refundable if the buyer decides not to purchase. All agreements ought to be notarised. Between signing the preliminary and main sales agreements, the lawyer completes the property Due Diligence and checks the availability of all the documents for the property. When signing the main agreement, the remaining transaction amount is paid, after which the property can be registered with the land registry office and a title deed can be obtained.

What property taxes are there in Portugal?

Property buyers pay a stamp duty (Imposto do Selo, IS) — 0,8% and a title deed transfer tax (Imposto Municipal sobre Transmissões, IMT) — 6,0 – 6,5%. After the purchase, an annual real estate tax (Imposto Municipal sobre os Imóveis, IMI) ranging from 0.3 to 0.8% across property types and municipalities, has to be paid. These three taxes — are everything that is paid by property owners. When selling real estate, non-resident owners pay the capital gain tax, chargeable from the difference between the purchase price and the sales price at a rate of 28%. The inheritance and gift taxes are not levied from spouses, children, parents and grandchildren, the other categories pay them at a rate of 10% (which is considered low).

How expensive are the utilities in Madeira?

The utility costs vary across locations. For example, an average bill for an 50–60 m² apartment totals about € 100-130 per month.

Can Portuguese residency be obtained through buying real estate?

Yes, there is a residency by investment or Golden Visa programme in Portugal. Those buying newly or relatively recently built properties for at least € 500,000 and properties built over 30 years ago for at least € 350,000 become eligible for residency.

How can a property buyer obtain Portuguese citizenship?

It is possible to apply for permanent residency after five years of residence in the country. After six years of residence it is possible to apply for citizenship. But these procedures are not interrelated. Holding a temporary residence or permanent residence permit does not lead to obtaining citizenship. Only following the rules of stay in the country (over 183 days per year for six years) can give hope for obtaining Portuguese citizenship.

Can foreign nationals lease real estate in Portugal?

Yes, of course. The owner's right to administer their property is not limited in any way.

What types of Portuguese property are better to invest in for rental purposes?

The most suitable for rental purposes are the flats and apartments located in the resort areas, such as the Algarve, Faro, Lagos, on the entire southern coast and the capital of the country, Lisbon.

Why do I need to own real estate in Portugal?

The Portuguese property market is one of the European real estate markets that have been growing most actively over the past few years. Therefore, real estate investments are very profitable in the country.

Property for sale in Madeira, Portugal — buy real estate in Madeira

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New penthouse with a panoramic view and a garage in a prestigious area, Sao Martinho, Portugal for 595,000 €

New penthouse with a panoramic view and a garage in a prestigious area, Sao Martinho, Portugal

595,000 €

£523,000

Total area 196 m²4 bedrooms4 bathrooms

New furnished penthouse with two parking spaces in a residence with a swimming pool and a garden, Funchal, Portugal for 595,000 €

New furnished penthouse with two parking spaces in a residence with a swimming pool and a garden, Funchal, Portugal

595,000 €

£523,000

Total area 182 m²Land area: 182 m²3 bedrooms3 bathrooms

Portugal's «Golden Visa»

Share in pending hotel development in Algarve with buy-out in six years

280,000 € · 70% shares already sold out

Legal for Russian citizens;
Residence permits for investor's spouse and children;
Application for citizenship in five years.

Fantastic villa with stunning views of the ocean and the city in Funchal, Madeira, Portugal for 790,000 €

Fantastic villa with stunning views of the ocean and the city in Funchal, Madeira, Portugal

790,000 €

£694,000

Total area 195 m² / 2099 ft²Land area: 969 m² / 10430 ft²3 bedrooms4 bathrooms

New furnished villa with a swimming pool and picturesque views, Funchal, Portugal for 1,750,000 €

New furnished villa with a swimming pool and picturesque views, Funchal, Portugal

1,750,000 €

£1,538,000

Total area 812 m² / 8740 ft²Land area: 812 m² / 8740 ft²3 bedrooms5 bathrooms

Plot for construction of houses on the island of Madeira, Portugal for 900,000 €

Plot for construction of houses on the island of Madeira, Portugal

900,000 €

£791,000

Land area: 8,660 m²

Four-room apartment with panoramic ocean views in Funchal, Madeira, Portugal for 295,000 €

Sea view

Four-room apartment with panoramic ocean views in Funchal, Madeira, Portugal

295,000 €

£259,000

Total area 130 m²3 bedrooms2 bathrooms

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Historic villa with a swimming pool, a garden and a view of the sea in a prestigious area, Funchal, Portugal for 2,500,000 €

Historic villa with a swimming pool, a garden and a view of the sea in a prestigious area, Funchal, Portugal

2,500,000 €

£2,197,000

Total area 1200 m² / 12917 ft²Land area: 1200 m² / 12917 ft²4 bedrooms5 bathrooms

Exclusive two-storey villa with panoramic ocean views, Madeira, Portugal for 1,980,000 €

Exclusive two-storey villa with panoramic ocean views, Madeira, Portugal

1,980,000 €

£1,740,000

Total area 420 m² / 4521 ft²Land area: 600 m² / 6458 ft²4 bedrooms6 bathrooms

Furnished villa with a swimming pool and a garden, Funchal, Portugal for 1,500,000 €

Furnished villa with a swimming pool and a garden, Funchal, Portugal

1,500,000 €

£1,318,000

Land area: 4000 m² / 43056 ft²4 bedrooms4 bathrooms

Furnished traditional villa with a panoramic view of the ocean in a quiet prestigious area, Funchal, Portugal for 1,590,000 €

Furnished traditional villa with a panoramic view of the ocean in a quiet prestigious area, Funchal, Portugal

1,590,000 €

£1,397,000

Total area 720 m² / 7750 ft²Land area: 720 m² / 7750 ft²5 bedrooms4 bathrooms

Furnished villa with a swimming pool and a garden in a quiet area, close to the sea, Funchal, Portugal for 985,000 €

Furnished villa with a swimming pool and a garden in a quiet area, close to the sea, Funchal, Portugal

985,000 €

£865,000

Total area 770 m² / 8288 ft²Land area: 770 m² / 8288 ft²4 bedrooms5 bathrooms

3 bedrooms; 4 bathrooms; Pool; Garden; Garage; Sea view for 995,000 €

3 bedrooms; 4 bathrooms; Pool; Garden; Garage; Sea view

995,000 €

£874,000

Total area 482 m² / 5188 ft²Land area: 482 m² / 5188 ft²4 bathrooms

Five-room penthouse with a parking and ocean views in Funchal, Madeira, Portugal for 832,000 €

Five-room penthouse with a parking and ocean views in Funchal, Madeira, Portugal

832,000 €

£731,000

Total area 186 m²4 bedrooms3 bathrooms

High-quality villa with a swimming pool, a garden and a guest house in a picturesque area, close to the center of Funchal, Portugal for 1,750,000 €

High-quality villa with a swimming pool, a garden and a guest house in a picturesque area, close to the center of Funchal, Portugal

1,750,000 €

£1,538,000

Total area 3000 m² / 32292 ft²Land area: 3000 m² / 32292 ft²5 bedrooms4 bathrooms

3 bedrooms; 5 bathrooms; Garden; Pool; Garage; Sea view for 1,900,000 €

3 bedrooms; 5 bathrooms; Garden; Pool; Garage; Sea view

1,900,000 €

£1,669,000

Total area 627 m² / 6749 ft²Land area: 627 m² / 6749 ft²5 bathrooms

Three-storey villa with a swimming pool, a gym and panoramic views near the center of Funchal, Portugal for 1,150,000 €

Three-storey villa with a swimming pool, a gym and panoramic views near the center of Funchal, Portugal

1,150,000 €

£1,010,000

Total area 578 m² / 6222 ft²Land area: 578 m² / 6222 ft²10 bedrooms6 bathrooms

New villa with a swimming pool, Funchal, Portugal for 1,800,000 €

New villa with a swimming pool, Funchal, Portugal

1,800,000 €

£1,582,000

Total area 559 m² / 6017 ft²Land area: 559 m² / 6017 ft²3 bedrooms5 bathrooms

Three-storey villa with a garden and a garage in a quiet area, Santa Cruz, Portugal for 595,000 €

Three-storey villa with a garden and a garage in a quiet area, Santa Cruz, Portugal

595,000 €

£523,000

Total area 550 m² / 5920 ft²5 bedrooms5 bathrooms

3 bedrooms; 4 bathrooms; Pool; Garden; Garage; Sea view for 1,250,000 €

3 bedrooms; 4 bathrooms; Pool; Garden; Garage; Sea view

1,250,000 €

£1,098,000

Total area 835 m² / 8988 ft²Land area: 835 m² / 8988 ft²4 bathrooms

2 months ago

New apartment in a residence with a swimming pool and a garage, Funchal, Portugal for 300,000 €

New apartment in a residence with a swimming pool and a garage, Funchal, Portugal

300,000 €

£264,000

Total area 128 m²2 bedrooms2 bathrooms

New villas on Madeira, Portugal for 450,000 €

New villas on Madeira, Portugal

450,000 €

£395,000

Total area 107 m² / 1152 ft²3 bedrooms

3 weeks ago

3+1 bedrooms; 2 bathrooms; Garage; Sea view for 370,000 €

Sea view

3+1 bedrooms; 2 bathrooms; Garage; Sea view

370,000 €

£325,000

Total area 206 m²Land area: 206 m²2 bathrooms

3 weeks ago

Spacious apartment with parking spaces in the center of Funchal, Portugal for 655,000 €

Spacious apartment with parking spaces in the center of Funchal, Portugal

655,000 €

£575,000

Total area 191 m²3 bedrooms3 bathrooms

3 weeks ago

Two-storey house with a garden and a terrace, São Martinho, Portugal for 830,000 €

Two-storey house with a garden and a terrace, São Martinho, Portugal

830,000 €

£729,000

Land area: 550 m² / 5920 ft²3 bedrooms4 bathrooms

3 bedrooms; 4 bathrooms; Pool; Garden; Garage for 1,300,000 €

3 bedrooms; 4 bathrooms; Pool; Garden; Garage

1,300,000 €

£1,142,000

Total area 840 m² / 9042 ft²Land area: 840 m² / 9042 ft²4 bathrooms

2 months ago

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