Gulpilhares E Valadares - Valadares - Canidelo

Madalena, a locale replete with a rich history, is nestled in the lush landscapes of the Azores archipelago in Portugal. The town is renowned for its historic sights, such as the Church of Santa Maria Madalena and the traditional Pico wine culture, which is recognized by UNESCO. Geographically, Madalena occupies a privileged position overlooking the expansive Atlantic Ocean, thus offering spectacular sea vistas. Its location on Pico Island ensures a unique blend of natural beauty and cultural heritage that continues to attract discerning visitors and residents alike.

The Exclusive Property Market in Madalena

The current exclusive property market in Madalena is strong, characterized by a high demand that often outpaces the supply of luxury homes and apartments. This buoyant market is supported by the region's stable political and economic environment, making it an attractive destination for property investors and luxury living enthusiasts.

Real Estate Costs and Commissions

When buying a luxury home in Madalena, buyers typically pay an average real estate commission of around 5%. Sellers, on the other hand, generally incur similar commission fees, averaging between 5% to 6% of the property's sale price. Additionally, buyers should consider extra costs such as the transfer tax, which is approximately 6%, notary fees, and potential construction inspection or legal expenses. The wealth tax on private homeownership is applicable, and profits from selling a second home are subject to capital gains tax.

Financing Your Luxury Home

Prospective homeowners in Madalena should be prepared to meet stringent mortgage requirements, with a standard expectation that loans cover up to 80% of the property's purchase price. The remaining 20% must be provided as a down payment, along with proof of sufficient income to service the mortgage obligations.

Premier Residential Areas

The most prestigious and sought-after residential areas include the scenic coastal zones and the lush, elevated locales offering panoramic views. Popular neighborhoods for luxury homes often feature exclusivity and privacy, essential attributes for luxury lifestyle seekers.

Connectivity and Accessibility

Madalena is well-connected, with reliable road networks ensuring ease of travel within and around Pico Island. The nearest major city is Horta, only a short ferry ride away, providing additional urban amenities and conveniences. For international travel, residents can access airports like Pico Airport and Horta Airport, with transcontinental connections.

Educational Institutions

In the vicinity of Madalena, esteemed educational institutions include Escola Secundária de São Roque do Pico, serving the academic needs of younger residents and families moving to the area.

Living in Madalena

Madalena, located in the province of the Azores, has a population of around 6,000 inhabitants. Residents enjoy picturesque environments with lush greenery, rolling landscapes, and expansive ocean views. The climate is maritime temperate, characterized by mild temperatures year-round.

Recreational and Lifestyle Amenities

For outdoor enthusiasts, Madalena offers activities like hiking on Pico Mountain, diving, and sailing. Luxury lifestyle shoppers can explore boutique stores and bespoke artisan shops. Dining and entertainment are elevated with high-quality restaurants such as Ancoradouro Restaurant, renowned hotels like Hotel Caravelas, and stylish nightlife options that include upscale bars and occasional cultural events.

Cultural and Sporting Events

Annual events such as the Semana dos Baleeiros (Whaler's Week) celebrate Madalena's rich cultural heritage. The area boasts famous museums and galleries, including the Wine Museum and the Interpretation Center of the Volcanoes.

Healthcare and Public Infrastructure

Healthcare needs are catered to by nearby hospitals and clinics, including Hospital da Horta on the neighboring island of Faial. Madalena's public infrastructure is robust, ensuring that residents have access to essential amenities and services critical to a luxury lifestyle. Investing in a luxury home in Madalena not only promises an opulent living experience but also a stable and rewarding investment in a thriving market.