Property buyers toast to Madeira
by Charlotte Ashton
Madeira, 1000 km over sea south-west from Portugal’s capital Lisbon, is famous for its sweet wine which was a staple purchase for exploring ships on route to the New World hundreds of years ago. Today this autonomous region of Portugal still pulls in the crowds seeking that taste of the rich liquor coupled with the relaxed and warm Mediterranean climate. Some still come by boat in the form of bustling cruise ships but more so via air and with new flights announced by Jet2.com for 2010, tourism is set to grow meaning an increase in footfall on to the island and good news for property buyers ready to open their doors to holiday rentals.
In 1963 the airport was opened in Madeira, full of eager passengers from Germany, Scandinavia and the UK seeking winter sun and a Mediterranean alternative to the Costa del Sol package holidays. This reigns true today with Madeira attracting a discerning profile of tourists throughout the year. Cruise arrivals to the archipelago are still popular with Funchal, the capital, still a favoured port on the Atlantic cruise routes. As well as for sunshine (and the wine!) visitors now come for holidays with a difference; Madeira has much to offer in the way of leisure activities including walking, surfing, deep-sea fishing and mountaineering. But of course the 20 beautiful blue flag beaches are still a huge draw!
Jet2.com the low cost airline will begin flights from Manchester airport from 3rd May 2010 for as little as £49.99 one way (including taxes) to Funchal. Ian Doubtfire, Managing Director at Jet2.com comments, “Madeira is a stunning island and an absolutely fantastic summer holiday destination which I am sure will be extremely popular with our customers in the North West and beyond.”
Duarte Ferreira, Director at Madeira Airport, goes on to say, “The launch of this new scheduled route is extremely positive news for Madeira and will open up this beautiful region to many more visitors. The creation of this brand new link, especially at a time when other operators are looking to cut costs and services, plays such an important role for tourism in the region, benefiting the local economy and people working and living on the island. We hope that this partnership with Jet2.com will result in the opening of several new routes from the UK in the near future.”For Experience International, the overseas property agency, Jet2.com’s news simply reinforces their reasons for offering property on the island especially at this time when people are more cautious of investing overseas or are unsure of where is a safe option for their hard-earned cash. Their new off plan development, Azulara, situated on the hillside overlooking Funchal bay and the capital city, comprises of 1, 2 and 3 bedroom apartments for investors with as little as £11,307 cash to spend. With entry levels of only €251,530, Azulara is sure to be a big hit providing the opportunity for holiday lets whilst allowing owners the option of enjoying the property themselves.
Funchal is without doubt the busiest town on this relatively quiet island, it has the appeal of the port plus amenities such as restaurants and shops to satisfy every visitor plus the added bonus of the most sunshine on the island!
Steve Worboys, MD of Experience International comments, “The Azulara Resort matches up with the high expectations that visitors have coming to Madeira with its 5* amenities – spa, gymnasium, swimming pools and exclusive Members Club plus build finishes to exacting standards. Every effort has been made to provide investors with value for money and a secure investment platform including deposit protection for the buyer. The location on the hillside above Funchal speaks for itself in terms of its appeal, it is without doubt a prime spot on the island; there are 180 degree panoramic views of the Atlantic Ocean – the perfect place for our clients to enjoy a glass or two of Madeira wine!”
For more information on flights visit jet2.com or contact Experience International for further property information on 020 7321 5858 / www.madeira-property.net.
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Azulara, Funchal, Madeira
Azulara Resort comprises of 112 imaginatively designed apartments finished to the highest standards with enviable panoramic sea views. It holds a prime location on the south of the island, situated on the hillside overlooking Funchal Bay, only a few kilometres from the city centre and 20 minutes drive from the international airport. The 1, 2 and 3 bedroom apartments from €251,530 – €429,038 enjoy 180 degree sea views of the Atlantic Ocean stretching from Funchal to Camara do Lobos.
1 bedroom apartments of 60sqm include private parking, a 3sqm storage room and 20sqm balcony.
3 bedroom apartments of 103.5sqm include double private parking, a 3sqm storage room and 4sqm balcony.
Investment highlights:
– Only £11,307* to invest
– €24,800 instant equity
– Deposit protected by Portuguese law up to twice its value
– Own a 5* property on a prime location with sea views
– 85% mortgages available
– 9.7% gross yields
– Up to €20,519 income after all costs and mortgage payments
– At least 5% pa growth can be expected
– Direct flights from several UK airports
* *All purchases are in Euros and calculated using an exchange rate of 1.1 € to 1 GBP £ in this report