PROPERTY TAX INCREASE IN MADEIRA 2017 

Effective 2017 Tax Year in Madeira Island, a single tax payer owning property/ies in Madeira totalling a patrimonial value over and above 600 000.00Euros will have to pay an aditional 0.7% (or 1 % if in excess of 1 Million Euros) in adition to the normal IMI annual tax in their area. If you are […]

DON’T GET BURNED – GET A HOME INSPECTION TO SAVE MONEY ON YOUR NEXT PURCHASE IN MADEIRA 

Okay, you made one of the most important decisions in your life: you’re buying a home in Madeira. You found your ideal home. It’s in your desired neighbourhood, close to everything you love, you dig its design and feel, and you’re ready to finalize the deal. But……. Wait a minute! Buying a home isn’t like […]

IMI PROPERTY TAX RATE REDUCTION IN FUNCHAL, MADEIRA 2017 

The average IMI property tax rate in the 11 Municipalities in Madeira and Porto Santo has been 0.307%. None of the municipalities have opted to apply the maximum rate for 2016 year, 8 have opted for the minimum, Funchal being the most populated, presently charges 0.32%. Camara de Lobos charges the highest rate. Funchal’s municipality […]

NATIONAL, INTERNATIONAL AND LOCAL PROPERTY PRICE UPDATE 

National, International and Local Property Price update NATIONAL AND LOCAL   26% Property prices drop in Portugal since 2000. The latest OCDE Report going for growth reveals a drop of 26% in property prices on a national level in Portugal since the beginning of the 21st century. Portugal is the country where Residential property prices […]

PROPERTY MARKET IN PORTUGAL – NATIONAL REPORT 2016 

MARKET/BANK EVALUATION DECEMBER 2015 Residential Bank evaluation values allow us to observe market tendencies specifically credit bank evaluation.  On a monthly basis the National Institute of Statistics analyses and distributes the latest statistics to all its members, via APEMIP.  According to INE the banks’ residential average evaluation was 1.043m2 which shows an increase of 2€uros […]

PRICING YOUR HOME FOR SALE IN MADEIRA 

Pricing a home for sale in Madeira in a way that will encourage a timely sale is quite challenging for home sellers in Madeira and often for Estate Agents too.  There are numerous studies that indicate the longer a home remains on the market, the less money it will fetch when it finally does sell.  […]

Are you renting your property in Madeira to tourists without a licence? 

FOLLOW THESE 13 STEPS … AND SAVE MONEY ! If you or your agent rent out your property to tourists for temporary or short term accommodation in exchange for money, then you need a licence called “alojamento local”. The property can be a villa, house, quinta, private family home, an apartment or room to let […]

BUYING AND SELLING IN MADEIRA. HERE ARE 3 TRAITS YOU WILL WANT IN YOUR PROPERTY AGENT 

For both buyers and sellers, chosing the right property agent is an important and difficult decision. FOR THE BUYER With thousands of property in Madeira for sale being advertised on the net, it is not difficult for a buyer to find property.  The most difficult task is finding the right property agent to work with. […]

PROPERTY MANAGMENT TIPS IN MADEIRA THAT COULD SAVE YOU THOUSANDS 

If you are one of the over 800 property owners in Madeira who manage your own property or work with a property management company in Madeira and advertise your property for rent on the net to tourists without a licence, then this is for you! House prices in Madeira on average are the same or […]

WHAT ARE THE CLOSING COSTS OF PROPERTY IN MADEIRA? 

You have found the perfect property in Madeira;  what is next in the home buying experience?.. Signing the contracts and paying the closing costs. So what exactly are the closing costs? Here is a list of the most common closing costs: 1.   LAWYER AND ESTATE AGENT Lawyers in Madeira, Portugal must be registered with the […]