Madeira Real Estate Blog

At the end of March, Palheiro Real Estate attended two events in London linked to the residential tourism market in Portugal.

The first of these was the 6th Annual Property Conference, organised by the UK Portuguese Chamber of Commerce.    Held at the new Pestana Chelsea Bridge Hotel, the conference brought together key figures in the Portuguese leisure property market.   Delegates heard from a number of distinguished speakers on topics ranging from the outlook for the Portuguese economy; Portugal as a residential tourism destination; how Portugal’s residential tourism developers are responding to changed market conditions; real estate regulation in Portugal and the placement of residential property into UK investment structures.

The Moderator for the second half of the conference was Jonathan Fletcher Blandy, President of the real estate, hotel and golf operations at the Palheiro Estate in Madeira.

The conference was followed by A Place in the Sun overseas property show held at Earls Court.   Palheiro Real Estate was one of eight companies which combined to form the Portuguese Pavilion, organised under the auspices of the UK Portuguese Chamber.   The Portuguese stand stood out in the national colours and attracted considerable attention over the 3-days of the show.    The presenters of A Place in the Sun TV programme  - Amanda Lamb, Jasmine Harmen and Jonnie Irwin - were present at the show and took part in a number of seminars giving general advice on buying property overseas.

At the end of the 3-day show, the general opinion of those taking part was that attendance and enquiry levels indicated a return to a healthier market, particularly in the more traditional and better established locations.   Under the heading `Lifestyle Buyers Get Serious´, an article published by the Overseas Property Professional organization on 31 March commented that “A Place in the Sun in London this year offered a seemingly busier crowd and a more positive atmosphere than at the 2009 show.  Many exhibitors reporting an increase in leads.”

Jasmine Harman, presenter of A Place in the Sun TV programme visits the Portuguese Pavilion at A Place in the Sun show in London on 28 March – pictured here with Roger Still of Palheiro Real Estate.

Christina Hippisley, General Manager of the UK Portuguese Chamber of Commerce with Roger Still of Palheiro Estate on the Portuguese Pavilion at A Place in the Sun show, in London on 28 March.   Note the beautiful orchids, which were specially delivered to the show from the Palheiro Estate, Madeira Island.

Christina Hippisley and Luis Delgado of the UK Portuguese Chamber of Commerce visit the Palheiro Estate display at the Portuguese Pavilion; 28 March.

With the onset of the credit crunch, fractional ownership of holiday homes has been increasing in popularity as a more affordable and practical way of owning a home abroad.

Portugal has long been a leading fractional freehold destination and Madeira provides a great option for fractional purchasers, as highlighted in an article in the Daily Mail last week.

The journalist Xanthe Whittaker states that fractional ownership allows “for holiday homes, once the exclusive domain of the ultra-rich, to become available to people with considerably smaller bank accounts.”

Palheiro Village is given as an example of one such luxury location that offers value for money. The article highlights though that fractional is often attractive to people who could afford to own a whole property outright, but “would rather part-own than make the financial commitment of full-freehold ownership.”

For the full article, click on this link: http://www.dailymail.co.uk

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