Land for sale
Portugal - Funchal, Madeira
like this property?Call: 03339 396426
- Access road and infrastructures in place
- Excellent exposure to the sun
- Stunning views over the Bay of Funchal
- Suitable for a small quality development or for a single residence
- Adjacent to the Palheiro Village & Palheiiro Estate
The land is for sale subject to a set of Building & Operating Regulations, which intend to control the development of the land in order to maintain quality standards and respect the aesthetics of the adjacent Palheiro Village.
Construction density is calculated on the basis of 0.25 sq.m. per sq.m. of land area, i.e. a maximum gross covered construction area of 730 sq.m.
The land benefits from connection to the existing road and services of Palheiro Village and from the various amenities and services available, both within Palheiro Village and the Palheiro Estate.
For those considering an investment in a luxury residence as a second (holiday) home or as a retirement destination, consider the advantages of Madeira Island :
• Sub-tropical climate - warm & pleasant year round
• Natural beauty - dramatic scenery, lush & colourful, known as the "Garden of the Atlantic"
• Ease of access - within 3 hours flight time from most European cities, direct flights from over 40 destinations in Europe, daily flights to London and Lisbon
• Protected environment - 70% of the island is protected parkland & forest
• Activities/Amenities - wide range of sports & leisure activities; two Golf courses near to Funchal
• Tourist infrastructure - long known as a quality tourist destination, with lots to see & do• Quality of life - a friendly, safe & clean place to visit and to live in (Note: one of the lowest incidences of crime in Europe)
Legal and fiscal situation
• Property transfer taxes - IMT tax, Stamp duty, reigistration and notary fees - max. 7%
• Inheritance tax - Effective 1st January 2004, inheritance tax abolished in Portugal. There is still a 10% stamp duty charge though on transfer of assets. Gifts/donations to a spouse (husband or wife), children, parents or grandparents are exempt.
• Capital gains tax - Flat 25% tax levy on all capital gains effected by non-residents.
• Portuguese (EU) Residence Permit - Since July 2012, the NON-EU PURCHASER has a right to apply for a Portuguese residence permit (with subsequent freedom of movement in Schengen countries) following purchase of real estate in Portugal with A MINIMUM INVESTMENT OF €500.000
• Non-Habitual Resident's Regime - offering fiscal advantages particularly to non-Portuguese retirees taking up residence in Portugal
- Funchal (International), 13.7 miles
*Distances are straight line measurements. This feature is currently in beta.