The property market in Madeira is well positioned to become a popular destination for investment this year.

The Portuguese market may not be as busy as it could be, however the short supply of holiday homes in the main country means that investors will be looking to the island of Madeira for some inspiration. This could mean an influx of business to the small island.

Jorge Botelho Moniz from Banco Espirito Santo, just one of the Portuguese banks which offer mortgages, believes that Madeira is one of Portugal’s “best kept secrets”. He also added that that is about to change, as existing property developments are “achieving maturity in sales and new ones coming into the market”.

“Madeira is still relatively unknown as a holiday home destination,” Mr Moniz said. “There are just a few developments targeting the foreign market, but the existing ones offer high quality units in exclusive breathtaking locations and a variety of services included.”

To understand the full step-by-step process to buying a property in Portugal, collect The Overseas Guides Company’s ‘Portugal Property Buying Guide’