The Portuguese Island of Madeira is known for its breath-taking landscapes, volcanic mountains, magnificent, lush coloured flowers and forests as well as its subtropical weather.
This exciting new project is located in the city of Funchal, the capital of Madeira and is just fifteen minutes from Madeira’s International Airport which offers daily flights from many European cities.
Situated at the very heart of the city, the building is surrounded by antique museums, cultural centres, old churches, wine lodges, trendy restaurants, hotels, schools, and amenities such as medical clinics, pharmacies, retail shops and many others. A short distance away is also the island’s impressive Marina.
This fabulous new private condominium consists of 19 spacious apartments, mainly studio to one-bedroom apartments with private terraces or balconies. To the front of the building is a small garden area. All apartments are being totally refurbished with an open kitchen concept and living room, suites, bathroom, and bedroom. The developer is offering investors a 3% guaranteed rental return p.a.
- Studio & 1 bedroom freehold units;
- Private development;
- Prices from €175,000 – €450,000;
- 3% guaranteed rental option available;
- City centre location;
- Completion date Q4 2024;
- Golden Visa eligible under reduced €350,000 legislation.
Golden visa legislation in Portugal allows a 30% reduction in the qualifying limit through investment in buildings which are over 30 years old and in need of renovation work. This project falls into this category so investors can apply for a Portuguese residency visa by purchasing a selection of units in this project to total €350,000 as opposed to €500,000. After five years it is possible for residency holders to then apply for Portuguese Citizenship