Traditional Portuguese Quinta For Sale
Beautiful house located within 50 meters from the centre of Funchal in a residential neighbourhood surrounded only by detached family homes.
Magnificent driveway and well kept mature gardens leads to the main house, origionaly built in 1947. Total plot size is 800m2. The lounge is quite large and includes a fireplace with access to the porch and gardens. The kitchen is on the lower floor and is also a nice size.
Maid/Servants quarters which include a bedroom and private bathroom.
An office/study with access to the garden. Four bedrooms. Two of which have their own private bathrooms all facing south and with plenty of natural sun.
Remodeled in 1994 the house has a marvelous combination of spaces is perfect for a family that entertains both formally and informally.
Closed garage for one car plus open space parking for a number of cars.
A cottage. Water tank. (With two hours of levada water).
Imaculado Coração de Maria was one of the emerging communities around central Funchal. with Rua do Til as its backbone, from where countless roads arrive and depart.Funchal underwent a profound renewal in the 40s, which turned it into a more modern city with the capacity to meet the expectations of international tourism.It is also the road that takes us to Monte, Terreiro da Luta, Poiso and Pico do Areeiro.
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, reigistration 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 effected 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 Resident's Regime - offering fiscal advantages particularly to non-Portuguese retirees taking up residence in Portugal.