After a valiant effort captaining the Portuguese football team in the 2022 World Cup, quick-footed Cristiano Ronaldo revealed he’s to expand his property empire in Portugal.
He revealed an expansion to his property portfolio in partnership with hotel group Pestana. The project in question is a £43million apartment complex in his native Madeira.
The work will start in the second half of 2023 and will be home to 88 brand new apartments in Praia Formosa. This is the first real estate partnership between the footballer and Pestana, following hotel partnerships in the past.
Madeira property market
Compared to mainland Portugal, house prices in Madeira are affordable. There’s a huge market if you’re willing to renovate a property. While you will have to put your hand in your pocket, it could really pay off and you could have your very own dream house.
In recent years, the real estate sector has grown between 10-20% annually and with big investors like Ronaldo returning to the island, we can expect interest and tourism to rise.
To give you an idea of what’s already available in Madeira, we’ve chosen 5 homes that are available right now.
If the link doesn’t work, the property has likely sold, however the features, plot size and price should give you a good idea of what you can get for your money on the island of Madeira.
Learn more about marvellous Madeira here
Five-bedroom home in Câmara de Lobos
This lovely, detached house in Camara de Lobos would make a lovely family home. Split across three levels, this property has two bedrooms with balconies on the second floor, while the third has a spectacular view of the mountains. The middle floor hosts the social areas including two living rooms, while the ground floor is home to the remaining two bedrooms, a living room and another dining room.
There is opportunity here to rent out the floors separately if you’re looking for a little extra income. This home also has a large outdoor area with a patio and space for three cars.
- Price: €595,000
- Plot size: 180m²
- Bedrooms: 5
- Bathrooms: 4
View this property of our Portugal property portal
Three-bedroom villa in Santa Cruz
While it might not look like much, this three-bedroom villa has a lot to offer. Located in Santa Cruz, just a short walk from Praia des Palmeiras beach, this home awaits its new owners. Complete with one ensuite bedroom, two guest bedrooms and two bathrooms, this villa is extremely spacious -perfect for a growing family, or retirees with a big family who plan to visit. Outside, this home has a large garden with plenty space for your own private pool. Plus, there’s a garage with space for up to 4 cars, or even a small boat. How does that sound?
- Price: €350,000
- Floor size: 255 m²
- Bedrooms: 3
- Bathrooms: 2
Check out this property on our Portugal property portal
Three-bedroom apartment in Porto Santo
This three-bedroom apartment is on the beautiful island of Porto Santo. The newly build apartments offer excellent sun exposure and are easily accessible by car or foot to the centre of the island. Inside, the refurbished apartment has three bedrooms, a modern, spacious interior – and a gorgeous bathroom. The owners of these apartments will also have access to the shared pool.
This one, you have to see to believe: it’s close to all amenities and has picturesque views of Madeira.
Floor size: 159m² / plot: 1080m²