2 bedroom apartment for sale
Portugal - Funchal, Madeira
like this property?Call: 03339 396426
- Resort property - private condominium with security
- On-site property management and rental service
- High-quality construction to northern European standards
- Wonderful views over the ocean
- Village owners have privileged discounts on Estate facilites
- Generous external terraces make most of wonderful climate
- Woodburning stove, full multi-split A/C to living & bedrooms, underfloor heating to bathrooms
- Additional basement storage room
- One parking space but plenty of overflow parking
- Tastefully furnished for the holiday rental market
Apartment 26 is a lower floor apartment in Building 5, offering stunning ocean views to the south. The 2-bedroom apartments in Palheiro Village are designed and constructed to a high standard with a spacious interior and large terrace. Apartment 26 is elegantly furnished and there is the option to purchase the full furniture and fittings which are also complete for rental purposes. The construction area of the apartment is 112m2 plus 36m2 terraces, and 21m2 basement storage.
The kitchen is fully equipped with granite worksurfaces, bathrooms feature stone wall and floor tiling and underfloor heating, and living areas and bedrooms have multi-split air-conditioning.
The living areas are floored with semi-manual terracotta with limestone borders, whereas the bedrooms are carpeted for extra comfort.CableTV, telephone and broadband internet available.
Ownership of the apartment confers privileged access to the facilities of the Palheiro Estate including the Village Forum heated outdoor pool; 18-hole Palheiro Golf course and Palheiro Spa.
Careful attention to detail and high construction standards are maintained throughout Palheiro Village.
To ensure their homes are properly looked after, Owners in Palheiro Village can take advantage of the services offered by Palheiro Property Management. Properties are regularly inspected, cleaned and maintained to a high standard. For those interested in the investment potential of their property, a rental service is available under the regime of "Local Lodging" or Alojamento Local. Apartment 26 has a history of good rental income, averaging 35-40 weeks p.a. Please enquire for details of potential ROI.
Palheiro Village, a private condominium designed by Michael Brown Associates, is built in a traditional external style and lies 10 minutes from the centre of Funchal & 15 minutes from the international airport. It offers a civilized, secure and restful environment to enjoy your holiday home or permanent residence.
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.