Brazil?
No Madeira Island!
We all know the Christ Redeemer in Rio but this statue on Madeira Island, Portugal, also faces the great landmark. What other similarities can we find between the great country of Brazil and this Portuguese outpost?
Brazil has been clearly identified as an emerging market amongst worldwide property investors. Returns on investment are excellent and investors have become aware of the high growth potential of Brazil as a stable new investment market.
However this is exactly the case with one of its cultural cousins Madeira Island, Portugal. Madeira after the last ten years of investment into its infrastructure is also an emerging market. It has Year-round sunshine, with average summer temperatures in the mid 20’s, great natural beauty, fantastic scenery, easy access via direct flights from many international airports and a friendly population.
Madeira’s emerging market is made from Tourism, farming and financial services. It has a wealth of activities supporting the island which are not known to the average property buyer. Influenced by the Gulf Stream, the sea water temperature is 22 °C during the summer and 16 °C in the winter. This makes it very popular for sailing and diving all year round.
This has led to a number of developments across the Island entertaining golf resorts, deep sea fishing, whale watching and hiking. With the islands new infrastructure being developed to increase access to even the most remote spots, property prices and land are increasing at a staggering rate.
Morgan Forbes, who are one of the major developers based in Funchal and London are confident that the island will show strong growth over the next 3-5 years, due to European investment and a love affair by the British Public.
Michael Nascimento who is the Director and Owner of Morgan Forbes quotes;
‘ We are able to offer higher yields to our customers because of being based in Madeira. Our development in Ponta do Pargo is being built next to a Sir Nick Faldo designed golf course and will host luxury spa facilities. We are delivering a product that not only offers you an affordable 5* lifestyle but will give you an expected yield of 12.4% on your money.’
Other influencing factors to Madeira’s growth are the ever growing budget air lines that are driving up the tourism industry. More cruise ships will be delivering tens of thousands of new tourists to the island weekly, creating a Mecca of wealth from foreign visitors.
The next emerging market is what every investor is hunting for but why do we look so far afield? When there are countries and locations like Madeira Island on our doorstep within the European Union.