Madeira Property Market To Be Unaffected By Floods

Madeira property will bounce back from the recent flash floods and will still be a top tourism destination in 2010 international property investment consultancy Property Frontiers has announced.

Director of the firm David Cox said:

“Madeira has an established tourism base, people who wouldn’t dream of going anywhere else for their holidays, because it has everything they ever want for, a lot of families, middle aged couples and retirees make up this base. Because of that, and the fact that most of the tourism infrastructure was unaffected by the floods, as well as the fact that they were the first floods in 27 years, mean that tourists who have booked are still coming, and no one has been stopped from making plans to travel to and stay on the island.

“Thus Madeira will be the top tourism destination in 2010 as it was last year, and the year before and the year before that. Because the Madeira property market is very much fuelled by tourism, this means that the property market will also be relatively unaffected by the event.”

The reports Cox referred to include the statements from the Secretary General of the UN World Tourism Organization Taleb Rifai, he said:

“The quick response action undertaken by the competent authorities at local and national levels, together with the support of the EU, have been instrumental in this catastrophe.

“As for the tourism sector, according to the information provided by the regional government, the hotel industry of Madeira was not affected and maintains all operating conditions safely. Hotel establishments, in general, are operational and there were not reported any difficulties or problems. The Madeira International Airport is also operational.

“I am confident that Madeira will continue to count on its solid tourism infrastructure and services, which have made it the destination of excellence it is today.”

Property Frontiers are currently marketing top-quality properties for sale in Madeira in the Azulara resort on Funchal Island.

Azulara is a mid-sized five star resort on the Funchal coast, with all the facilities and amenities to be expected in a world class resort in a destination like Madeira. 85% finance is available and just a 5% deposit is required to reserve with nothing else to pay until completion. Net rental yields are expected to be 9.7%. 1, 2 and 3 bedroom apartments are available priced from £211,000, £238,000 and £362,000 respectively. Most apartments have fantastic views over Funchal Bay, and the larger apartments have balconies.

For more information contact Property Frontiers on +44 1865 202700.