Introducing an exquisite 3-bedroom apartment, featuring an impressive 156 square meters (1,679 square feet) of living space, ideally located on the second floor within the prestigious ‘The Place’ development, nestled in the sought-after Virtudes area of Funchal.

These contemporary apartments epitomize the pinnacle of modern architectural elegance, offering meticulously designed interiors that are bathed in an abundance of natural light. Notably, each residence boasts spacious and impressive balconies, providing the perfect setting to relish the captivating ambiance of the surroundings.

These apartments are thoughtfully appointed with high-end appliances, ensuring a lifestyle of luxury and comfort. Positioned just a mere two-minute drive from the city center, they offer unparalleled convenience for discerning residents.

Each apartment has been meticulously designed to include two designated parking spaces and a conveniently located storage room.

The development comprises two distinct blocks, complemented by an inviting outdoor pool, expansive 5,000 square meters (53,819 square feet) 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. Standout features include sleek glass facades, state-of-the-art home automation systems, and elegantly designed decked balconies.

The well-appointed kitchen is equipped with a cooktop, oven, extractor hood, microwave, and a heat pump, catering to the needs of culinary enthusiasts.

Furthermore, the apartment benefits from a superior air conditioning duct system, ensuring optimal climate control.

This property fully maximizes its hillside location, offering a southward orientation that provides unobstructed panoramic views of the picturesque bay, enhancing the overall appeal.

Despite its tranquil, exclusively residential setting, the apartment complex enjoys close proximity to essential amenities. Nearby are primary and secondary schools, a hospital, and the Barreiros Stadium. Additionally, a variety 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 underscore the property’s convenience.

This sophisticated apartment in ‘The Place’ effortlessly combines modern luxury, unparalleled convenience, and breathtaking surroundings, presenting 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.