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 purchasing process take place when buying an apartment 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.

How can an apartment 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 apartments 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 an apartment 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.

2 Bedroom Apartments for Sale in Madeira from 190,000€

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New two-bedroom apartment with sea views in Sao Martinho, Madeira, Portugal for 762,000 €

Sea view

New two-bedroom apartment with sea views in Sao Martinho, Madeira, Portugal

762,000 €

£642,000

Total area 137 m²2 bedrooms2 bathrooms

New two-bedroom apartment in a complex with private access to the promenade, Sao Martinho, Funchal, Madeira, Portugal for 825,000 €

New two-bedroom apartment in a complex with private access to the promenade, Sao Martinho, Funchal, Madeira, Portugal

825,000 €

£695,000

Total area 165 m²2 bedrooms3 bathrooms

3% discount on apartments

Investment apartments in The Community at 9% per annum in the heart of the Motor City area, Dubai

From 125,000 €

Completion in: 2025 Yield: 9.0% Apartments in total: 450

Residential complex

T2 Turístico com rentabilidade garantida for 725,000 €

With swimming pool

T2 Turístico com rentabilidade garantida

725,000 €

£611,000

Total area 142 m²2 bedrooms

3 months ago

Two-bedroom apartment with an ocean view within walking distance from the beach, Caniço, Madeira, Portugal for 325,000 €

Sea view

Two-bedroom apartment with an ocean view within walking distance from the beach, Caniço, Madeira, Portugal

325,000 €

£274,000

Total area 77 m²2 bedrooms2 bathrooms

New apartment in a residence with a swimming pool and a garage, Funchal, Portugal for 340,000 €

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

340,000 €

£287,000

Total area 80 m²2 bedrooms2 bathrooms

2-bedr. flat, furnished, in the centre of Funchal for 630,000 €

2-bedr. flat, furnished, in the centre of Funchal

630,000 €

£531,000

Total area 163 m²2 bedrooms2 bathrooms

3 months ago

Discounted apartments and new-builds upon request

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Residential complex with swimming pools, a garden, and a gym, Funchal, Portugal for From 580,000 €

Residential complex with swimming pools, a garden, and a gym, Funchal, Portugal

From 580,000 €

From £489,000

Built in 2022Total of 112 apartments

Residential complex

2 bedroom apartment in the center of Funchal for 470,000 €

2 bedroom apartment in the center of Funchal

470,000 €

£396,000

Total area 112 m²2 bedrooms3 bathrooms

3 months ago

2 bedroom apartment in the center of Funchal

470,000 €

£396,000

Total area 108 m²2 bedrooms3 bathrooms

3 months ago

2 bedroom apartment in the center of Funchal for 480,000 €

2 bedroom apartment in the center of Funchal

480,000 €

£405,000

Total area 112 m²2 bedrooms3 bathrooms

3 months ago

2-bedrooms apartment 160 m² in Funchal, Portugal for 550,000 €

2-bedrooms apartment 160 m² in Funchal, Portugal

550,000 €

£464,000

Total area 160 m²2 bedrooms3 bathrooms

3 months ago

Two-bedroom apartment with a view of the sea, Funchal, Portugal for 465,000 €

Sea view

Two-bedroom apartment with a view of the sea, Funchal, Portugal

465,000 €

£392,000

Total area 117 m²2 bedrooms2 bathrooms

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What they say about Tranio

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First and foremost Tranio is a very motivated team of professionals who surely know their job! We are very pleased with their well-coordinated work, timeliness of responses to the questions posed, and willingness to act in case of unusual situations.
Original letter

Coldwell Banker
It is with much enthusiasm that I personally recommend Tranio for a professional business collaboration in the ﬁeld of real estate, marketing, acquisition, and ﬁnance. The fundamentals of our business relationship with Tranio were set in 2016. Mundial AG has received the company’s great reputation throughout a number of international business pai’tners and stockholders. Tranio has helped our company to expand its horizons to the global market and has established benchmarks that would extend Mundial AG’s networks. The company has exceptional connections to potential investors and has a proﬁcient team that is capable of forming compound ﬁnancial models that attract ﬁnanciers. The cooperation with Tranio is based on professionalism, effectiveness, and Hypovﬂemsbank scrupulousness. Our experiences with Tranio are encouraging and progressive, which makes them one of our preeminent business paitners.
Original letter

Z. Farkas, Mundial AG
We are glad to have a partnership with Tranio! It offers a vast online property base and the best services.

Quality Villas

2 bedroom apartments for sale in Madeira