Presenting an exquisite 3-bedroom apartment, boasting 158 square meters of living space, within the prestigious ‘The Place’ development nestled in the coveted Virtudes area of Funchal.

These contemporary apartments exemplify modern architectural elegance, offering meticulously planned interiors bathed in abundant natural light. Notably, each residence features spacious and impressive balconies, perfect for enjoying the surrounding ambiance.

The apartments are equipped with high-end appliances, ensuring a luxurious and comfortable lifestyle. Situated a mere two minutes from the city center, they offer unrivaled convenience.

Each apartment is thoughtfully designed with two designated parking spaces and a convenient storage room.

The development comprises two distinct blocks, complemented by an inviting outdoor pool, expansive 5000 square meters of meticulously landscaped gardens, and captivating sea vistas.

The building itself is a testament to quality, incorporating premium materials and finishes that prioritize daily comfort and security. Highlights include sleek glass facades, advanced home automation systems, and elegantly designed decked balconies.

The well-appointed kitchen comes equipped with a cooktop, oven, extractor hood, microwave, and a heat pump for culinary enthusiasts.

Furthermore, the apartment is air conditioning duct system, ensuring optimal climate control.

The property takes full advantage of its hillside location, offering southward orientation that grants unobstructed panoramic views of the picturesque bay.

Despite its tranquil, exclusively residential setting, the apartment complex enjoys proximity to essential amenities. Nearby are primary and secondary schools, a hospital, and the Barreiros Stadium. Additionally, an array of convenience stores, including pharmacies, mini-markets, fruit stalls, and more, are easily accessible. Multiple access points to the city center and the expressway further enhance the property’s appeal.

This sophisticated apartment in ‘The Place’ effortlessly combines modern luxury, convenience, and breathtaking surroundings, making it an exceptional opportunity for discerning buyers.

We have a selection of different properties available to fit all your requirements so call us to enquire further and obtain more information.

BY APPOINTMENT ONLY

For those considering an investment in a luxury residence as a second (holiday) home or as a retirement destination, consider the advantages that Madeira Island has to offer:
Security. Madeira is virtually crime free and one of the safest holiday destinations in the world!
Sub-tropical climate – warm & pleasant year round.
Natural beauty – lush & colourful, known as the “”Garden or Pearl 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.

Legal and fiscal situation
Property transfer taxes – IMT tax, Stamp duty, registration 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 affected 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 Residents Regime – offering fiscal advantages particularly to non-Portuguese retirees taking up residence in Portugal

ABOUT PRIME PROPERTIES MADEIRA REAL ESTATE
Discover the perfect home for you in Madeira, Portugal today!
Prime Properties Madeira Real Estate is a local, well-established, licensed, real estate agency providing a complete service to international buyers looking to invest in Madeira, Portugal whether for holiday homes or permanent living residence. Our properties include villas, houses, quintas, apartments, land and commercial properties. We also offer a PROPERTY FINDING SERVICE, working with a few select real estate agencies in Madeira to deliver a personalised service through the entire purchase process from viewings, negotiation, legal expertise, mortgages, relocation etc. We pride ourselves on working together to European standards of honesty, integrity and transparency. We provide excellent after sales service.