Palheiro Village inaugurated by President of Madeira
News on Portugal
President Alberto João Jardim of Madeira Island has officially inaugurated the groundbreaking Palheiro Village development, located 10 kilometres east of Funchal, Madeira.
Dr Jardim praised Palheiro Village as a "magnificent development" in his opening speech, one of the best projects he has had the pleasure to inaugurate during his long term in office. The ceremony was attended by 180 guests including purchasers, clients, key members of the regional government and Funchal town hall, local opinion makers and business people.
The scheme has taken residential architecture on the island to a new level, and now stands to rival some of the best golf property developments in the more established Portuguese golfing hotspot of the Algarve.
The small, select property development comprises just 37 luxury apartments and 48 villas set in lush, landscaped gardens. Properties range from one-, two- and three-bedroom apartments to three and four-bedroom villas. Prices range from €340,000 (£270,000) to €1.7 million (£1.35 million). There are additional plots offering the opportunity to build a private villa.
Other facilities, include an 18-hole, par-72 golf course which was designed by Cabell Robinson, a five-star country house hotel called Casa Velha do Palheiro, a new Palheiro Spa and a plant nursery that supplies national and international markets.
The scheme has already inspired plans to build two further golf property projects on the island, and has increased demand for high-end property for sale in Madeira.
Roger Still of Palheiro Real Estate told Homesoverseas.co.uk: "The interest we are seeing in new investment in Madeira and [neighbouring island] Porto Santo is very encouraging and clearly indicates the underlying confidence in the future of these islands as a quality second home destination which only now is being discovered - we feel the medium and long terms prospect are excellent."
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Information provided by Homes Overseas | © PropertyIndex.com 2008 | Last Updated: 09 October 2008
