MADEIRA PROPERTY MARKET INFLUENTIAL FACTORS ON THE LOCAL PROPERTY MARKET
Madeira Island, the hidden treasure in the middle of the Atlantic Ocean made global front line news on the 20th of February this year. The devastating series of mudslides and floods which ravaged the island although only striking 2% of the territory - mainly in the capital of Funchal, Ribeira Brava and some other smaller towns left many families homeless and some lost loved ones and possessions. This was a result of abnormally heavy rainfalls - a climate change which has not occurred in Madeira in 100 years. Cleaning up operations proceeded almost immediately after the catastrophe, thanks to quick response action taken by competent authorities at both local and national levels, in addition to EU support and within days essential services were restored and the status quo on the island almost entirely back to normal.
Current prevailing global economic conditions have also affected Madeira and a general marked decrease in demand for property on the island has been registered.
On a more positive note, however, latest press news is that Madeira now has airline flight connections to 48 cities in 20 countries worldwide with a total of 285 flights weekly. Visit the MADEIRA AIRPORTS WEBSITE for further information.
Should you be considering buying or selling property in Madeira Island, we invite you to talk to someone who knows the local market well. Contact Tony via email or phone him at +00351 291099901.
COUNTRIES WITH FLIGHT CONNECTIONS TO MADEIRA ISLAND:
GERMANY, IRELAND, ITALY, LUXEMBURG, NORWAY, POLAND, PORTUGAL, UNITED KINGDOM, BELGIUM, DENMARK, SPAIN, ESTONIA, AUSTRIA, FINLAND, FRANCE, SWITZERLAND, SWEDEN, VENEZUELA, HOLLAND.