Living in Madeira
Thousands of ex-pats are living in Madeira. Could you become one of them? Know all about living on the Portuguese island.
In the middle of the Atlantic Ocean, Madeira Island is a Portuguese jewel. With a pleasant climate, fascinating natural landscapes, and some of the lowest prices in Europe, living in Madeira is an object of desire for many foreigners.
Portugal has long been known for its above-average hospitality but is now becoming home to retired ex-pats, families, and investors. In today’s article, we’ll tell you all about living in Madeira, the cost of living, better neighbourhoods, and much more.
Living in Madeira: day by day
Have you ever thought about living on a tropical island with the security of Europe, below-average prices, and a relaxed pace of life? No, it’s not a dream, it’s Madeira Island!
This little Portuguese paradise is 1077 km (669 mi) off the mainland coast, in the middle of the Atlantic. Home to Cristiano Ronaldo, the island has received increasing recognition from the world in recent years as a luxury destination.
Living in Madeira is like living a green dream of peace and calm, without losing the comforts of modern life. The Portuguese are friendly, the ex-pat community grows every day, especially British, and the days go by in pleasant temperatures with outdoor meals.
Who lives on Madeira Island?
As the largest island in the Madeira archipelago, the island of Madeira has around 245,000 inhabitants in 2021. Of these, 105,000 live in the capital, the city of Funchal.
In Madeira, 69.8% of the population is of working age and 3.7% is formed by foreigners with the legal status of residence. However, in reality, this number tends to be much higher than on paper.
Why are ex-pats moving to Madeira?
The attractions of the island of Madeira, as already mentioned, are quite obvious. It’s a fantastic place to live with quality of life to spare.
But beyond that, some things make Madeira an even more attractive destination for foreigners to relocate.
Like for example:
Visa and residency programs that make moving from abroad easier.
Tax Benefits for Non-Habitual Residents.
Possibility of getting a Golden Visa with real estate investment.
The cost of living is much lower than the European average.
It is halfway between the United States and the United Kingdom.
So, as in most regions of Portugal, the question should be: Why not move to Madeira?
What is the cost of living in Madeira?
When you’re living in Madeira, you find that prices are much lower than in major European cities or even islands.
We present you, in the table below, the averages of the cost of living in the main city of Madeira & Funchal. Averages are estimates provided by the Numbeo website.
EXPENSES / COSTS
A single person estimated monthly costs (without rent) 534.29€
Family of four estimated monthly costs (without rent) 1,904.70€
1-bedroom apartment rental in the City Center 621.88€
3-bedroom apartment rental in the City Center 1,066.67€
In case you are wondering, the cost of living in Funchal is, on average, 33.96% lower than in Lisbon. Likewise, rent tends to be around 7.58% cheaper.
Want to know what are the best neighbourhoods to live in on Madeira and much more?
Read the full article here VIV Europe Living in Madeira
All content by VIV Europe Official Legal Partner of KipperTree