Hi Techless...I own property in Madeira. What would you like to know?
Funchal (the city) is the most popular area but the best weather is to be found west of Funchal between Ribeira Brava and Ponta do Sol. I would go for something on this stretch of the coast...i.e. in Ribeira Brava, Lugar de Baixo, Ponta do Sol, Magdelena de Mar or Calheta. Madeira's lovely all year round. There are two golf courses, Palheiro and Santa de Serra. You can get Portuguese mortgages from the likes of Barclays or Banco Espirito Santo. Usually 70% is the maximum you can get over a maximum of 30 years. They tend to charge Euribor plus a spread (1.25-1.50%) rather than using the ECB rate as their reference rate. There's a bit of messing with notaries and lawyers but no more than anywhere else I suppose. CGT (I think) is 25% in Portugal too. I've a decent lawyer out there who looks after things for me. If I can't make it out there myself I just have a power of attorney notarised and send it to him. Madeira's a great spot...no yahoos, great food, great weather and great value. There are direct flights too (Sata/TAP) or you can connect through Lisbon or London. I'm happy with my investment. The capital appreciation has been steady rather than spectacular but because of the prudent lending outlined above the credit crunch doesn't seem to be a huge issue. If you've any queries, just post them here and I'll do my best to help you.