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 […]

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. […]

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 […]

MOVING TO AND LIVING IN MADEIRA 

APARTMENT vs HOUSE/VILLA IN MADEIRA.  WHICH IS BEST FOR YOUR LIFESTYLE? Moving to a different country and to an island exposes you to new experiences and realities.  Some individuals love living in an apartment, whilst others swear by a detached home in Madeira. When it comes to deciding between the two, however, one can’t always […]

TAX FREE RETIREMENT IN MADEIRA PORTUGAL 

Tax free benefits for property buyers are in place in Madeira and Portugal to all European citizens and citizens of countries where double taxation agreements have been established with Portugal.  High Net-worth individuals, specific professionals and pensioners who purchase property in Madeira and transfer their tax residence to Portugal are entitled to tax free benefits […]

ALL PROPERTY OWNERS IN MADEIRA – SAVE MONEY AND OBTAIN YOUR ENERGY CERTIFICATE 

Madeira property owners are informed that as from the 1st December 2013 an “ENERGY PERFORMANCE CERTIFICATE” (“Certificado energético de imóveis) is obligatory and required prior to any property in Madeira being placed on the market for rental or for sale.  High penalties and fines are applicable if not obtained. New legislation requires that the proprietor […]

MADEIRA ISLAND NEWS – PROPERTY OWNERS IN PORTUGAL – “SIL” REPORT 

Latest statistics emerging from the recent Property Conference SIL held in Lisbon from the 9th – 13th October reveals that 41% of owners live in their own property without a mortgage and 44% live in their own property with a mortgage.  In 2011 there were more property owners in Portugal (which includes Madeira Island) without […]

MADEIRA PROPERTY MARKET NEWS 

HOW TO AVOID HAVING YOUR PROPERTY IN MADEIRA REPOSSESSED BY YOUR LOCAL BANK: The global and local recession and low property market prices have resulted in many families handing over their properties in Madeira to the banks. New legislation is in place allowing property owners certain rights to renegotiate their existing loans with the banks. 1. […]