5 bedroom house for sale
Portugal - Funchal, Madeira
like this property?Call: 03339 396426
- Established residential area, close to the city centre, home to many of the iconic Quintas or manor houses
- Panoramic views over the city, mountains and ocean
- Privacy and tranquillity in central Funchal
- Traditional, comfortable and full of charm, character and history
- Spacious and bright interior areas, modernly decorated but with traditional details
- Extensive and private gardens
- Levada water available for garden irrigation
- Excellent potential for development of attached plot of land
- Solar panels for domestic hot water
The main entrance opens up to the reception room next to the dining and living area, which can be separated by closing the sliding wooden and glass doors popular in this period. Very fresh and bright, the elegant living areas have hand-worked ceilings, solid wooden "Casquinha" floors throughout and traditional wooden windows with interior shutters. All the interior doors and carpentry is painted white.
The kitchen, with views to the gardens, is fully fitted and has a direct access to the dining room, to the gardens and to the service stairs that lead to the basement and to the upper floors. A guest WC completes the accommodation on this floor.
A skylight provides natural light to the stairs, as we access the upper floors. The first floor comprises a spacious office/Tv room with magnificent views to the garden, whilst the master suite offers panoramic views over Funchal harbour. There are also two further bedrooms and a generous family bathroom on this level.
The attic floor has three further rooms with a shared bathroom, two of which were transformed into bedrooms for guest accommodation. The roof terrace also offers the best spot to enjoy the New Year's fireworks.
In the basement, the property houses a laundry, a cellar, a technical area as well as three other multipurpose rooms, that can be used as storage or housekeeping accommodation. The house still has a functional traditional bread stove in the basement.
The 2.350 sq. m. property includes a plot of land, currently used as a kitchen garden, which could accommodate a generous sized pool, or could easily be separated from the main house to build a guest cottage. The availability of the 'Levada' water, stored in a irrigation tank, guarantees the irrigation of the gardens all year around. Domestic hot water is guaranteed by 300 l solar panels. There is also a detached garage for two cars.
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), 8.5 miles
*Distances are straight line measurements. This feature is currently in beta.