The archipelagos of Madeira and the Azores are prime destinations for visiting, living and investing, particularly in real estate. Who says so is Michael Vincent, CEO of Berkshire Hathaway HomeServices (BHHS) | Portugal Property - multimillionaire Warren Buffett's real estate network -, for whom the two regions have been attracting attention for their natural beauty and also for their strategic location. This means that, he assures, the respective real estate markets are booming and have great growth potential. Let's find out more about buying property in Madeira and the Azores.
"The Portuguese islands are a privileged market for property investment," he said in a statement, noting that BHHS | Portugal Property, which is already present in Madeira and the Azores as of this year. While Golden visas are said to be coming to an end in Portugal, the islands could still see the chance to keep them, making the destination even more attractive for foreigners. "The opportunity to obtain a Golden Visa, coupled with the possibility of being able to acquire property at competitive prices provide the ideal environment for investment, either personally or commercially," he adds.
Michael Vincent reveals that a large part of the real estate network's clients, more than 35%, come from the USA. Next on the list are investors/buyers from Great Britain (25%).
"There are more and more eyes on the archipelagos of Madeira and the Azores, which offer many advantages for those looking to live a peaceful retirement or to spend at least six months of the year surrounded by sun, fresh air and nature. The NHR (Non Habitual Resident) programme in force is also very attractive for those who wish to spend more time in these regions", comments the CEO of BHHS | Portugal Property.
As far as the age groups and socio-professional profiles of the clients are concerned, Michael Vincent underlines that the majority of buyers are between 40 and 60 years old and are people who wish to spend their retirement in Madeira and in the Azores or else "families who wish to bring their children to have a better life".
"The security, the pleasant climate with mild temperatures throughout the year and the great natural beauty, combined with an affordable cost of living, when compared with other European cities, are some of the advantages that continue to attract not only thousands of tourists every year to the archipelagos of Madeira and the Azores, but also more and more investors - especially foreigners," states Michael Vincent.
- Buying property in Madeira and the Azores: check out our selection of Portuguese island property for sale on idealista