Luxury Villa Condominium, Madeira, Portugal, starting at €350,000, Golden Visa Eligible
Portugal Residency / by Peter Lilliott / 184 views
This property is a luxury villa condominium complex in Madeira, Portugal. The property satisfies the requirements for Madeira Golden Visas, and units are available to investors starting at €350,000.
The condominium complex includes a private garden and 19 spacious apartments. The apartments are mainly studios and one bedroom, each with private terraces or balconies. The units have been completely refurbished with open kitchen concepts, living rooms, suites, bathrooms, and bedrooms.
The designing architects have refurbished the units with careful consideration of the area’s aristocratic heritage. The team has used these existing traces of cultural heritage to redesign the property in ways that maintain its historic levels of natural lighting while adding modern touches. The units thus offer a perfect blending of traditional aesthetics with modern conveniences.
Investment
Investment in the property is available starting at €350,000. The property offers a guaranteed 3% yield or flexible returns.
Developer
The developer is a local hospitality group that manages hotels and residential complexes throughout Portugal. Their team has decades of international experience across Europe’s hospitality and finance sectors, and they pride themselves on their innovative and education-driven approach to identifying attractive opportunities. The developer has won numerous awards for their service and sustainability both domestically and internationally.
Location
The property is in Funchal, the capital of Portugal’s Madeira Autonomous region. The complex is just 15 minutes from Madeira International Airport, which keeps the city connected with the rest of Portugal and wider Europe.
The Madeira Islands are famous for their breathtaking landscapes, volcanic mountains, lush flowers and forests, comfortable weather, and delicious food and wines. The archipelago is located in the Atlantic Ocean just 400 kilometers north of the Canary Islands and 520 kilometers west of Morocco. Many people compare the islands’ comfortable subtropical climate to Hawaii.
Funchal is the largest city in Madeira, and it is less than a two-hour flight from Lisbon. The city is also less than four hours from most major European cities. Funchal is the hometown of football legend Cristiano Ronaldo, and the local airport was recently renamed in honor of him.
The islands are developed and have modern comfortable infrastructure like one would find in any major global city. The islands, and Funchal in particular, feature Michelin-star restaurants, a rich and vibrant tourism industry, a range of museums, and diverse watersports and activities. The wonderful climate and developed tourism industry on the islands mean that hotel occupancy rates reach 90-100% during the Christmas and New Year seasons. The islands have been becoming a popular place for millennials and digital nomads. This all gives Funchal and Madeira a unique population and ensures the islands’ facilities are accessible and tourist-friendly.
The islands are perfect for agriculture, and the local industry is known for a wide range of products, including wines, potatoes, flowers, sugars, pasta, dairy, and beers. All of these feature prominently in local cuisines.
- Listing ID: 75303
- Enables residence and/or citizenship in:: Portugal
- Enables owner's visa-free travel to:: EU/Schengen, United States (ESTA), United Kingdom, Canada, Australia, Hong Kong, Singapore
- Price range: US$250,000 - US$500,000
- Ownership type: Freehold, Shares
- Minimum holding period to maintain residence/citizenship status: 5 years
- Construction status: Completed
- Property type: House/Villa, Hotel rooms/shares
- Income-generating property: Yes
- Annual maintenance costs borne by the buyer: Yes
- No. of rooms: 1