MADEIRA ISLAND IN PORTUGAL – “CRIME-FREE, COSMOPOLITAN AND WITH A HOST OF TOP SPORTING ATTRACTIONS, THE ISLAND OF MADEIRA IS FINALLY SHAKING OFF ITS ONCE DOWDY IMAGE”
This was the headline in the Mail on Sunday Property Page - 1st March 09 edition written by Fred Redwood reporting that Madeira island is not just a haven for oldies any more. Despite its splendid botanical gardens and sub-tropical climate, some still consider its air of starched gentility as a “Pathe” newsreel. Yet this is not the case. Cecilia Le Roux and husband Jean Paul, from Edinburgh and who now work in France were interviewed by the Mail on Sunday; the couple bought a 4 bed roomed holiday home in Caniço last year just outside the capital of Funchal via Tony de Nobrega of Nobrega Realty and are now regular visitors to the island. “There are daily flights which take three hours from Paris and the UK, so we work for 3 weeks every month and come to Madeira for ten days. It’s so refreshing to be here because the people are so tolerant and respectful – you never see graffiti on the walls or litter in the streets – life in Madeira is laid back but there is also a lot to do – fantastic sailing, climbing, walking and all manner of sports. I have lived in the South of France, Portugal and the UK and this is easily my favourite spot.”
The credit crunch has had a marked effect on the property market on the island. Traditionally many retired people visit Madeira but just prior to the recession Tony de Nobrega of Nobrega Realty has had an increasing number of home buyers in their 30’s and 40’s, however, the gridlocked property market has put a stop to that and sales are down. Three quarters of the island is designated as national park, so there is little danger of over-development. If condominium-style living is not for you, there are many cheaper properties on the market with two bed roomed cottages ranging from about €140 000. When buying property in Madeira Island, make sure you use a reputable local licensed estate agent – as many of the properties are partly owned by long forgotten relatives of inhabitants who went overseas in search of work about 40 years ago, when the island was poor; this causes all sorts of legal problems hence the importance of dealing with experienced realtors and solicitors.