Morgan Forbes is currently working on an amazing hotel project in Ponta do Pargo located in western Madeira, which offers excellent money making opportunities for both investors and lifestyle property buyers.

Located adjacent to where the new Sir Nick Faldo designed 18-hole golf course is being built, the luxurious scheme aims to provide exceptional returns, through a high annual rental income, estimated at 12.4%, and exceptional capital growth.

Despite recent price rises at the Ponta do Pargo project, the improving Euro exchange rate, up 10% on January this year and 20% on January last year, means that the cost of buying in to this high yielding project has actually fallen, allowing budgets to go further.

Sales at Ponta do Pargo, which are now over 40% of the whole project, have soared in recent months, with the greatest volume of purchasers coming from Britain and Germany and with further transactions anticipated in the next few weeks.

Research shows that Portugal is currently the third most popular country for overseas property hunters, accounting for 12% of all searches on property website Rightmove.

Michael Nascimento, Director at Morgan Forbes, said: “The recent recovery in the Pound’s value against the Euro represents a fantastic saving for the Brits who are buying into our project.

“Five-star hotels in Madeira, which are extremely popular with holidaymakers, already attract a high occupancy rate. But the fact that holidaying in Madeira has become 20% cheaper for Brits means that hotel occupancy levels should increase, translating into even higher rental returns for our customers who are buying into this hotel project, which also offers enormous room for capital appreciation.

“All funds for the Sir Nick Faldo designed golf course are in place to ensure completion of the project in late 2011. This will undoubtedly attract more high-net worth individuals, including golfing enthusiasts from across Europe, which is great news for anyone buying into our scheme, as it will add value to their hotel unit.”

The declining value of the Euro currency means that now is the perfect time to buy property on the Portuguese island of Madeira, according to Morgan Forbes (www.morganforbes.com).

Consumer confidence among Brits seeking to purchase property overseas is improving thanks to a recovery in property markets across parts of Europe, including Madeira, and a recent rally in Sterling’s value against the Euro.

In the past few days, the Pound has been trading at an 18-month high of around €1.20, significantly reducing the cost of purchasing property in Madeira, as a consequence.

All-inclusive entry prices at Ponta do Pargo start from just £6,750, followed by five very affordable stage payments of just €2,590 each. Low total purchase price of just £17,914.