5 bedroom manor house for sale
Portugal - Funchal, Madeira
like this property?Call: 03339 396426
- Quiet & private location near to Funchal centre
- Madeiran manor house set in lush gardens
- Suitable with modernisation as family residence or small hotel
- Traditionanl architecture - full of charm
- Attractively priced
Despite renovation in 1971, the property is in need of modernisation.
An additional annex is currently used as staff accomodation.
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.