Living in Madeira
Right at the beginning, the question naturally arises as to where I would like to live. Should it be a rented apartment, a plot of land to be built on later, an older house to be renovated or refurbished by yourself, or a finished house that just needs to be occupied. Of course, this depends on your own philosophy of life on the one hand and on your financial possibilities on the other.
Rental apartments:
It depends on the area you prefer to live in. New-build apartments are often only available in the capital Funchal and the surrounding areas (Canico, Camacha, Gaula, Santa Cruz, Machico) and are relatively expensive. Here you have to expect an average of between 12 euros and 20 euros per square meter. In top locations and with upmarket furnishings, it can be 25 euros and more.
If you are not too demanding, you can also find bargains for less than 10 euros. A little outside the west/northwest (Porto da Cruz, Santana, Faial, Sao Jorge or east of Funchal in the south and southeast (Camara de Lobos, Ribeira Brava, Ponta do Sol, Calheta) there are more and more individual developments and only rarely larger apartment buildings. However, availability is not very high here either. Here it is advisable to consult an advisor who knows the market better and is quicker to hear when something becomes available. The price level is also slightly below the prices in Funchal.
Properties:
Property prices have risen sharply in the last 3 years. This is due to the increased demand caused by geopolitical tensions, political dissatisfaction at home and, ultimately, the Mediterranean climate, which remains the same all year round and is characterized by a slower pace of life.
Undeveloped plots in good locations are rare. To find an undeveloped plot at a reasonable price in a good location, you have to be one thing above all: “fast”. But speed is not the only decisive factor for a smooth purchase. In most cases, the ownership structure is not clearly defined or the property boundaries have not been surveyed correctly or at all. You can save yourself a lot of trouble here if you have the right partner at your side who clarifies these things in advance, looks at cadastral plans and checks contracts so that the purchase does not become a nightmare.
Let us and our contacts with lawyers, notaries and estate agents help you, ultimately saving you money and unnecessary headaches.
New house construction:
Building a house in Madeira is the same as in other European countries. You need an architect to develop plans for the development according to your wishes. The regulations of any municipality must be obtained and complied with. Heights, distances from neighboring properties, rights of way, utility connections, etc. The process from the start of project planning can take a good year, so you should definitely allow for this time. Once the plans have been approved by the customer, the building application is submitted to the “Camara Minicipal” of the responsible municipality. This takes about another 4-6 weeks.
A building contractor can then be sought and cost estimates obtained, who will then implement the architect's plans. Extreme caution is also required here. Not every supposed building contractor has the appropriate license to build a house. You should always rely on expert help. Please do not hesitate to contact us.
Remodeling:
When converting or rebuilding an old house, the process is somewhat simpler. Of course, it must be ensured in advance that the existing objects on the property have been approved. Otherwise they will have to be re-approved. Please clarify these matters before signing the notary contract. What the owner says has to be checked, usually they don't know it properly because the property was inherited, for example.
A little tip: Existing properties can usually be extended by 25% without major problems, provided that no rights of others are infringed. Leave nothing to chance and use our experience and our network for high-quality service.
Contact us if you need help finding your dream home, dream property or rental flat in Madeira zu finden.
Our partner when it comes to property.
