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 a house 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 house totals about € 100-130 per month.

Can Portuguese residency be obtained through buying a house?

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 house 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 houses 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 houses 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 a house 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.

Houses for sale in Funchal, Madeira, Portugal

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price low to highlow to highprice high to lowhigh to lownewest firstnew

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 €

£1,562,000

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

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

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

2,000,000 €

£1,785,000

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

Residence by investment in 2022

Golden Visa for buying a share in a hotel in Lisbon, Portugal

350,000 € · Equity buy back in 6 years

Portugal’s state programme;
Eligible for citizenship in 5 years;
High return investment.

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 €

£1,339,000

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 €

£1,419,000

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

Villa with a swimming pool, a garden and picturesque views, Funchal, Portugal for 1,950,000 €

Villa with a swimming pool, a garden and picturesque views, Funchal, Portugal

1,950,000 €

£1,741,000

Total area 3620 m² / 38966 ft²5 bedrooms8 bathrooms

Traditional villa with a garden and picturesque views, Funchal, Portugal for 950,000 €

Traditional villa with a garden and picturesque views, Funchal, Portugal

950,000 €

£848,000

Total area 1932 m² / 20796 ft²Land area: 1932 m² / 20796 ft²5 bedrooms3 bathrooms

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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 €

£879,000

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

Spacious villa with a view of the sea and the mountains, Funchal, Portugal for 650,000 €

Spacious villa with a view of the sea and the mountains, Funchal, Portugal

650,000 €

£580,000

Total area 630 m² / 6781 ft²Land area: 630 m² / 6781 ft²4 bedrooms4 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 €

£1,562,000

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 €

£1,696,000

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

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

New villa with a swimming pool, Funchal, Portugal

1,800,000 €

£1,607,000

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

£1,026,000

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

Two-storey house with a garden and a terrace, São Martinho, Portugal for 650,000 €

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

650,000 €

£580,000

Land area: 550 m² / 5920 ft²3 bedrooms4 bathrooms

High-quality villa with a guest apartment and a garage, Funchal, Portugal for 890,000 €

High-quality villa with a guest apartment and a garage, Funchal, Portugal

890,000 €

£794,000

Total area 290 m² / 3122 ft²Land area: 290 m² / 3122 ft²5 bedrooms5 bathrooms

3 bedrooms; 4 bathrooms; Garage; Garden; Sea view for 745,000 €

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

745,000 €

£665,000

Total area 533 m² / 5737 ft²Land area: 533 m² / 5737 ft²4 bathrooms

4 bedrooms; 4 bathrooms; Pool; Garden; Garage; Sea view for 7,950,000 €

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

7,950,000 €

£7,096,000

Total area 20000 m² / 215280 ft²Land area: 20000 m² / 215280 ft²4 bathrooms

New furnished villa with a swimming pool and a garage, Funchal, Portugal for 2,500,000 €

New furnished villa with a swimming pool and a garage, Funchal, Portugal

2,500,000 €

£2,231,000

Total area 1600 m² / 17222 ft²Land area: 1600 m² / 17222 ft²4 bedrooms6 bathrooms

Three-storey villa with ocean views in Funchal, Madeira, Portugal for 595,000 €

Three-storey villa with ocean views in Funchal, Madeira, Portugal

595,000 €

£531,000

Total area 300 m² / 3229 ft²Land area: 1060 m² / 11410 ft²4 bedrooms3 bathrooms

Two-storey villa with panoramic ocean views in Funchal, Madeira, Portugal for 730,000 €

Two-storey villa with panoramic ocean views in Funchal, Madeira, Portugal

730,000 €

£652,000

Total area 280 m² / 3014 ft²Land area: 750 m² / 8073 ft²5 bedrooms4 bathrooms

Two new villas in Funchal, Madeira, Portugal for 460,000 €

Two new villas in Funchal, Madeira, Portugal

460,000 €

£411,000

Total area 450 m² / 4844 ft²Land area: 510 m² / 5490 ft²3 bedrooms5 bathrooms

Two-storey villa with a pool and a garden, Funchal, Madeira, Portugal for 399,000 €

Two-storey villa with a pool and a garden, Funchal, Madeira, Portugal

399,000 €

£356,000

Total area 253 m² / 2723 ft²Land area: 400 m² / 4306 ft²3 bedrooms4 bathrooms

Three-storey villa with ocean views in the center of Funchal, Madeira, Portugal for 550,000 €

Three-storey villa with ocean views in the center of Funchal, Madeira, Portugal

550,000 €

£491,000

Total area 80 m² / 861 ft²Land area: 400 m² / 4306 ft²5 bedrooms4 bathrooms

Modern furnished villa with a swimming pool, a garden and a garage in a quiet area, Sao Martinho, Portugal for 1,400,000 €

Modern furnished villa with a swimming pool, a garden and a garage in a quiet area, Sao Martinho, Portugal

1,400,000 €

£1,250,000

Total area 450 m² / 4844 ft²Land area: 1200 m² / 12917 ft²3 bedrooms3 bathrooms

Modern villa with a swimming pool, a garden and a garage in a quiet area, Funchal, Portugal for 1,400,000 €

Modern villa with a swimming pool, a garden and a garage in a quiet area, Funchal, Portugal

1,400,000 €

£1,250,000

Total area 1200 m² / 12917 ft²Land area: 1200 m² / 12917 ft²3 bedrooms3 bathrooms

Two-storey stone house 500 meters from the beach, Funchal, Madeira, Portugal for 325,000 €

Next to the sea

Two-storey stone house 500 meters from the beach, Funchal, Madeira, Portugal

325,000 €

£290,000

Total area 121 m² / 1302 ft²Land area: 151 m² / 1625 ft²3 bedrooms3 bathrooms

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