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Real Estate in Funchal, Portugal | Digital Nomad Exchange
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Real Estate in Funchal, Portugal

By Betsy Burlingame

Last updated on Oct 25, 2024

Summary: People living in Funchal, Portugal offer advice about real estate. How do you find a home in Funchal? Should you buy or rent? What is the cost of housing?

Portugal Residency Advisors
Portugal Residency Advisors
Portugal Residency Advisors
Portugal Residency Advisors

How do I find a place to live in Funchal?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"To find a place to live in Funchal, you can start by researching online on popular real estate websites such as Idealista, OLX, and Imovirtual, where you can filter your search based on your preferences like location, budget, and property type. You can also join local Facebook groups dedicated to housing and rentals in Funchal, where people often post available properties and recommendations. Another option is to visit local real estate agencies in Funchal, where you can speak with a professional agent who can help you find a suitable place based on your requirements. They can also provide valuable information about the local housing market and assist with the rental or purchase process. Additionally, you can explore local newspapers and classified ads for property listings. This can be a good way to find private landlords who may not advertise on the larger websites. Lastly, consider asking friends, family, or colleagues who live in Funchal for recommendations or referrals. They may know of available properties or have connections with local landlords and real estate agents," said one expat in Funchal.

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AnchorLessAnchorLess

AnchorLess provides services to help you settle into your new life in Portugal. you are guaranteed to have access to a convenient, quick and reliable service, with a team always ready to answer all of your questions about your new adventure.
Connect

Click connect to have our partner contact you via e-mail and/or phone.

What is a typical expat home or apartment like in Funchal?

"A typical expat home or apartment in Funchal, is likely to be a modern and well-maintained property, often located in a residential area or near the city center. These homes usually offer stunning views of the ocean or the surrounding mountains. They are often spacious, with multiple bedrooms, a fully-equipped kitchen, and a comfortable living area. Many expat homes also come with outdoor spaces such as balconies or terraces, perfect for enjoying the pleasant climate of Funchal. Some apartments may be part of a larger complex, offering amenities like a shared swimming pool, gym, or garden area. Additionally, these homes are usually located close to local amenities such as shops, restaurants, and public transportation, making it convenient for expats to settle into their new life in Funchal," explained one expat living in Funchal, Portugal.

AnchorLess

AnchorLess provides services to help you settle into your new life in Portugal. you are guaranteed to have access to a convenient, quick and reliable service, with a team always ready to answer all of your questions about your new adventure.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

AnchorLess

AnchorLess provides services to help you settle into your new life in Portugal. you are guaranteed to have access to a convenient, quick and reliable service, with a team always ready to answer all of your questions about your new adventure.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

What is the average cost of housing in Funchal?

If you are thinking about moving to Funchal, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Funchal, can vary depending on the type and location of the property. Generally, the prices for apartments range from affordable to moderately expensive, while houses and villas can be more costly. In the city center, you can expect to pay a higher price for accommodation, while properties located further away from the center may be more affordable. It is essential to research and compare different neighborhoods and property types to find the best housing option that suits your budget and preferences," said one expat who made the move to Funchal.

Should I buy or rent a home in Funchal?

If you have not spent a lot of time in Funchal, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in Funchal, depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Funchal for an extended period and have the financial means to purchase a property, buying a home can be a good investment. Owning a property allows you to build equity, benefit from potential appreciation in property value, and have more control over your living space. On the other hand, if you are unsure about your long-term plans or prefer more flexibility, renting a home may be a better option. Renting allows you to move more easily if your circumstances change, and it can be more affordable in the short term, as you do not need to pay for property taxes, maintenance, and other costs associated with homeownership. Additionally, renting can provide an opportunity to familiarize yourself with the local real estate market and neighborhood before committing to a purchase. Ultimately, the choice between buying and renting a home in Funchal depends on your individual needs and preferences. It is essential to carefully consider your financial situation, lifestyle, and future plans before making a decision," said one expat who made the move to Funchal.

About the Author

Betsy Burlingame Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.

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Get a quote for international health insurance from our partner, William Russell.
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