Can foreign nationals take out mortgage loans in Funchal?

Yes, non-residents can be issued a mortgage loan to buy property in Funchal. 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 Funchal?

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 Funchal?

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.

Apartments for sale in Funchal, 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 €

£510,000

Total area 196 m²4 bedrooms4 bathrooms

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 €

£253,000

Total area 130 m²3 bedrooms2 bathrooms

90 m long swimming pool!

The Community — investment apartments by Aqua Properties with 9,5% yield per annum in the center of the developing area of Motor City, Dubai

From 128,000 €

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

Residential complex

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 €

£708,000

Total area 165 m²2 bedrooms3 bathrooms

3 months ago

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 €

£714,000

Total area 186 m²4 bedrooms3 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 €

£292,000

Total area 80 m²2 bedrooms2 bathrooms

Penthouse with a terrace in a luxury residence with a swimming pool and a gym, Funchal, Portugal for 1,000,000 €

Penthouse with a terrace in a luxury residence with a swimming pool and a gym, Funchal, Portugal

1,000,000 €

£858,000

Total area 460 m²4 bedrooms4 bathrooms

Discounted apartments and new-builds upon request

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Client manager

We find off-market properties
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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 €

£562,000

Total area 191 m²3 bedrooms3 bathrooms

Three-bedroom penthouse with ocean views in Funchal, Madeira, Portugal for 900,000 €

Three-bedroom penthouse with ocean views in Funchal, Madeira, Portugal

900,000 €

£772,000

3 bedrooms3 bathrooms

Three-bedroom penthouse with a picturesque view in a luxury residence with a swimming pool and a gym, Funchal, Portugal for 1,150,000 €

Three-bedroom penthouse with a picturesque view in a luxury residence with a swimming pool and a gym, Funchal, Portugal

1,150,000 €

£986,000

Total area 315 m²3 bedrooms3 bathrooms

3 bedrooms; 2 bathrooms; Garage; Sea view for 675,000 €

Sea view

3 bedrooms; 2 bathrooms; Garage; Sea view

675,000 €

£579,000

2 bathrooms

2 months ago

Residential complex with two swimming pools and city view, Funchal, Portugal for From 250,000 €

Residential complex with two swimming pools and city view, Funchal, Portugal

From 250,000 €

From £214,000

Built in 2022Total of 108 apartments

Residential complex

2 bedrooms; 2 bathrooms; Garage for 440,000 €

2 bedrooms; 2 bathrooms; Garage

440,000 €

£377,000

Total area 92 m²Land area: 92 m²2 bathrooms

2 bedrooms; 2 bathrooms; Garage for 500,000 €

2 bedrooms; 2 bathrooms; Garage

500,000 €

£429,000

Total area 107 m²Land area: 107 m²2 bathrooms

Exclusive penthouse with sea and city views, Funchal, Portugal. Price on request

Exclusive penthouse with sea and city views, Funchal, Portugal

Price on request

Total area 460 m²4 bedrooms4 bathrooms

Typologies ranging from T0 to T3 and areas ranging from 71 m² to 423 m² for 525,000 €

With swimming pool

Typologies ranging from T0 to T3 and areas ranging from 71 m² to 423 m²

525,000 €

£450,000

With swimming pool

Typologies ranging from T0 to T3 and areas ranging from 71 m² to 423 m²

525,000 €

£450,000

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 £497,000

Built in 2022Total of 112 apartments

Residential complex

One-bedroom apartment in a new complex, Funchal, Madeira, Portugal for 250,000 €

One-bedroom apartment in a new complex, Funchal, Madeira, Portugal

250,000 €

£214,000

Total area 65 m²Land area: 91 m²1 bedroom1 bathroom

Furnished apartment with sea and mountain views, Funchal, Portugal for 520,000 €

Furnished apartment with sea and mountain views, Funchal, Portugal

520,000 €

£446,000

Total area 172 m²4 bedrooms4 bathrooms

Four-room apartment in a new luxury complex, Funchal, Madeira, Portugal for 325,000 €

With swimming pool

Four-room apartment in a new luxury complex, Funchal, Madeira, Portugal

325,000 €

£279,000

Total area 156 m²3 bedrooms3 bathrooms

3 bedrooms; 3 bathrooms; Pool; Garden; Garage; Sea-front for 920,000 €

With swimming pool

3 bedrooms; 3 bathrooms; Pool; Garden; Garage; Sea-front

920,000 €

£789,000

Total area 155 m²Land area: 155 m²3 bathrooms

Apartment – São Martinho, Funchal, Madeira, Portugal for 275,000 €

Apartment – São Martinho, Funchal, Madeira, Portugal

275,000 €

£236,000

Total area 80 m²Land area: 239 m²2 bedrooms2 bathrooms

Two-bedroom apartment in a luxury complex, Funchal, Madeira, Portugal for 295,000 €

With swimming pool

Two-bedroom apartment in a luxury complex, Funchal, Madeira, Portugal

295,000 €

£253,000

Total area 90 m²Land area: 132 m²2 bedrooms2 bathrooms

Three-bedroom apartment in a new complex, Funchal, Madeira, Portugal for 390,000 €

Three-bedroom apartment in a new complex, Funchal, Madeira, Portugal

390,000 €

£335,000

Total area 117 m²Land area: 166 m²3 bedrooms2 bathrooms

Spacious penthouse in a modern residential complex near the sea, Funchal, Portugal for 750,000 €

Spacious penthouse in a modern residential complex near the sea, Funchal, Portugal

750,000 €

£643,000

Total area 229 m²4 bedrooms

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