20 Farm and Land buying Tips that will save you Thousands!
Finding farms, land/plots for sale in Madeira island Portugal, to build your own home or to buy off plan property in Madeira is an option opted by many property purchasers. You must take the same care when searching for land/plots for sale in Madeira as you would when searching for a resale home to buy in Madeira,but add the following 20 land buying tips which will save you thousands and avoid you countless problems.There are many honest builders in Madeira island who will build an individually designed home on your land/lot or will sell you the land/plot and build a home chosen from a selection of custom designs,but sometimes are unable to deliver.
1. Purchase Cost of Land in Madeira island in Portugal
Finding land/lots for sale in Madeira with planning permission varies considerably depending on area.In a good location,in Funchal,expect to pay up to 750€ per m2 if you can find it. In the rural areas, outside of Funchal, prices can range between 50€ to 200€ m2.
2. Building Costs
Range between 500€m2 to 1500€m2 depending on quality and location.
Due to Madeira island’s topography, some lots/plots are unsuitable for building as they are too steep and would require exorbitantly expensive foundations.
4. Purchase Tax
6,5% IMT Tax is payable on building land in Madeira.
5. Agricultural Land
Should you build on agricultural land, be aware that there are strict limits on lot/plot and building sizes. You can obtain this information from the local town hall via the usage licence (licenca de utilizacao).
For the remaining 15 land buying tips available on land for sale in Madeira island Portugal, please fill in the form below -the complete document will be forwarded to your email shortly!