This impressive five-bedroom family home with indoor pool, tennis court, tiered gardens with fruit trees and spacious accomodation lies adjacent to the Palheiro Golf course and enjoys great views over the Bay of Funchal.
The property is within a stone’s throw of the Palheiro Golf Clubhouse and within walking distance of the Palheiro Spa and the Casa Velha do Palheiro hotel.
Plot area: 2.490 sq. m.
Gross construction area (approx.):972sq. m. + extensive terraces
Gated access off estate road
Easy access to Funchal & airport
Garage for three cars
Open-plan attic living space with fifth bedroom
Formal living and dining area with open fireplace
Fully fitted kitchen with island and dining area
2 large bedroom suites
2 guest bedrooms with guest bathroom
Indoor swimming pool
All living areas and main bedrooms have terraces with south westerly views over Funchal Bay
Additional storage rooms
Colourful landscaped garden with fruit tree plantation
Energy rating: 96B
For those considering an investment in a luxury residence as a second (holiday) home or as a retirement destination, consider the advantages of Madeira Island :
Sub-tropical climate – warm & pleasant year round
Natural beauty – dramatic scenery, lush & colourful, known as the “Garden 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 (Note: one of the lowest incidences of crime in Europe)
Legal and fiscal situation
Property transfer taxes – IMT tax, Stamp duty, reigistration 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 effected 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 Resident’s Regime – offering fiscal advantages particularly to non-Portuguese retirees taking up residence in Portugal
– REF: L05