Now is a good time to consider purchasing a property on the Portuguese island of Madeira, with rising tourist numbers helping to boost the rental market.
Speaking to the Financial Times, Linda Beaney, from Beaney Pearce, a firm that markets one of the villa developments on the island, explained there is a robust real estate sector in Madeira at present.
“The sales market in Madeira has continued at a steady pace over the past three years,” she stated. Ms Beaney added although the number of British buyers has fallen slightly, investors from Brazil, Germany, South Africa and Scandinavia have expressed a growing interest inPortuguese property on the island.
According to the most recent figures released by the Instituto Nacional de Estatistica, Madeira was one of the only regions in the country where the number of overnight stays by tourists increased in 2011, compared to 2010.
The island also recorded the highest occupancy rate in the nation for its holiday accommodation in the same period, which may be a good sign for those hoping to rent out property in Madeira.
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