Luxury Madeira property development completed

Luxury Madeira property development completed

The Palheiro Estate in the Portuguese island of Madeira, which features a wide selection of luxury villas and apartment, has been completed.

The award winning development, located on a prime hilltop site overlooking the capital of Funchal, has proved popular with a range of buyers, most notably Brits, attracted to the local golf course.

The 18-hole course is the second golf course on the island, complementing the championship course in Santo da Serra. Freehold homes in the development start from €325,000 (£280,000).

Madeira's good year-round weather is ideal for keen golfing enthusiasts, such as Roger and Hilary Smith, aged 60 and 57, who purchased a three-bedroom villa in Palheiro Estate, ten-minutes drive from Funchal, in August 2009, after taking early retirement and are now enjoying their home in Madeira, where temperatures can reach 20C in winter.

'It was important to choose a place with golf courses and a relaxed way of life,' says Mr Smith.

Madeira has a number of tourism developments in the pipeline, namely in the five-star sector but the current set of international circumstances, namely in the UK market, have not made things easy in recent years, resulting in some projects being put on hold.

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