Madeira, Funchal, Portugal

Luxury waterfront apartments with private access to the sea

Located in the prestigious promenade area of Estrada Monumental and with 6000m2 of gardens and green areas is this magnificent frontline residence with direct access to the beach
The building was designed in a Y shape, and overlooks the Praia Formosa Beach, allowing most of the apartments to benefit from a panoramic 180º sea view facing the ocean and Cabo Girão.
The garden and lawn areas on both sides are fully protected by the Y-shaped building. A huge infinity pool on the edge of the cliff.
This development has three blocks with of one, two, three and four bedrooms.
Each apartment has at least one private parking space, with the larger apartments having up to three parking spaces. All apartments have a private storage room outside the apartments.
Private pools have been added in the units with larger terraces.
There are aproximately 25 pools between different blocks and floors.

Completion Date End of 2023

We have a selection of different properties available to fit all your requirements so call us to enquire further and obtain more information.

BY APPOINTMENT ONLY

For those considering an investment in a luxury residence as a second (holiday) home or as a retirement destination, consider the advantages that Madeira Island has to offer:
• Security. Madeira is virtually crime free and one of the safest holiday destinations in the world!
• Sub-tropical climate - warm & pleasant year round.
• Natural beauty - lush & colourful, known as the **Garden or Pearl 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.

Legal and fiscal situation
• Property transfer taxes - IMT tax, Stamp duty, registration 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 affected 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 Residents Regime - offering fiscal advantages particularly to non-Portuguese retirees taking up residence in Portugal

ABOUT PRIME PROPERTIES MADEIRA REAL ESTATE
Discover the perfect home for you in Madeira, Portugal today!
Prime Properties Madeira Real Estate is a local, well-established, licensed, real estate agency providing a complete service to international buyers looking to invest in Madeira, Portugal whether for holiday homes or permanent living residence. Our properties include villas, houses, quintas, apartments, land and commercial properties. We also offer a PROPERTY FINDING SERVICE, working with a few select real estate agencies in Madeira to deliver a personalised service through the entire purchase process from viewings, negotiation, legal expertise, mortgages, relocation etc. We pride ourselves on working together to European standards of honesty, integrity and transparency.
We provide excellent after sales service.

Our services at Prime Properties Madeira are free of charge to you and do not incur any mark-ups on the property price or agent commission.
REF: 1270 T3