5 Bed Country Property for sale

Ponta Do Pargo, Calheta, Madeira, Portugal

£399,032

 [€445,000]

Property Details

  • Bedrooms: 5
  • Bathrooms: 4

Features

  • Perfect to escape the hustle & bustle of city life
  • Suitable for a rural hotel or Local Lodging
  • Two semidetached studios can de rented seperately
  • Peace and quiet with ocean views
  • A piece of authentic Madeira, full of charm
  • Access to irrigation water
  • Hardwood floors
  • Colourful tiles from Morroco in the kitchens

Full Description

This 6.000 m2 property, lying near the clifftop in the parish of Ponta do Pargo, dates from 1769. It was originally built to be the family residence of the headmaster of the old local school. The main house was restored in 1995, remaining faithful to the authentical design, and the school building was converted into two self sufficient studios. The tranquil location offers superb ocean views as well as being the perfect escape from the city.

The main house features a cosy kitchen with a traditional bread stove. The living area, with a spacious bathroom to the west, opens up to a long corridor that gives access to the three bedrooms. All feature beautiful coved ceilings and wooden windows and shutters, that were also restored in the original design. The two bathrooms were modernized in 2008.

On the lower level, the basement offers three further rooms that are currently used as storage facilities.

The two studios have enough space to accommodate 4 people each. The first studio, next to the main house, has a large terrace, from which you can enjoy the sunset over the hills, 400 meters away from the sea at 440 meters altitude.

With separate kitchens and bathrooms on the lower floor, and a large open plan living area on the upper level, they are an excellent opportunity to ensure some return on investment, as rental units for rural tourism. The Quinta would also lend itself to be a small guest house or a peaceful retirement home.

To guarantee the irrigation of the extensive gardens and agricultural land, the property has a water tank and levada water nearby.

Despite the renovation already done, the property is in need of some modernization for full time living.

DESTINATION MADEIRA

For those considering an investment in a luxury residence as a second (holiday) home or as a retirement destination, consider the advantages of Madeira Island :

• Sub-tropical climate - warm & pleasant year round
• Natural beauty - dramatic scenery, lush & colourful, known as the "Garden 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 (Note: one of the lowest incidences of crime in Europe)

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
This property listing (ref: quintapargo) is an advertisement supplied by ImoPalheiro and does not constitute property particulars. While aplaceinthesun.com (APITS Ltd.) requests all advertisers supply correct details, it does not carry out checks on the information supplied and cannot be held responsible for any inaccuracies. Aplaceinthesun.com recommends seeking independent legal advice prior to any overseas property purchase.

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