Why is Madeira so cheap?

The average standard of living tends to be a bit lower than in mainland Portugal, and the local autonomous government gives generous subsidies coming from the tourist industry revenues and from the Portuguese national budget. Go where the locals go and everything will be cheap.



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Madeira is renowned for its landscapes, lore—and its legendary wine, which graced the tables of America's Founding Fathers.

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Funchal, the capital of Madeira Island, is known for its beautiful landscapes, mild climate, and relaxed lifestyle. According to Numbeo, a family of four can expect to spend around 1,943.8€ per month without rent in Funchal, while a single person's estimated monthly costs amount to 542.5€ without rent.

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The cost of living in Madeira is generally lower than in mainland Portugal. Housing costs, utilities, and healthcare expenses are more affordable, allowing retirees to stretch their retirement savings further.

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As an American citizen, you can stay on Madeira Island for up to 90 days without a visa, but if you plan to stay longer, you'll need to apply for a residence permit.

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Legal and Financial Considerations: As a foreigner purchasing real estate in Madeira Island, you'll need to follow the legal and financial requirements of Portugal. This may include obtaining a fiscal number (NIF), opening a bank account, and hiring a lawyer to handle the legal aspects of the transaction.

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This is also the place where most expats and digital nomads live so people are more likely to speak English. With over 100,000 people living in Funchal, it is the main center of Madeira. The capital is known for its lively nightlife, incredible restaurants, and for having loads of cultural activities to enjoy.

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Madeira – A Tax Haven Approved by the European Commission.

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In fact, Madeira was just voted Europe's “Leading Island Destination” in the World Travel Awards again (the sixth time in the last seven years). Less than four hours from London and with almost guaranteed sunshine, Madeira is an ideal winter break, or for that matter, anytime destination.

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Visiting Madeira However, there are other means of transport available such as buses, taxis, tuk-tuks, bicycles and scooters. It is also worth mentioning the importance of the cable cars, which connect to some of the archipelago's most iconic points of interest.

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Data published this Thursday, 10 November, by the Regional Directorate of Statistics of Madeira (DREM), show that in 2021, the crime rate - which corresponds to the ratio of the number of crimes by the resident population (in thousands) - stood at 22.1‰, lower than that recorded in 2020 (23.8‰).

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For them the island has everything: safe towns and cities, good food, happy people. The locals themselves confirm this. “It's hard to be sad when the sun is shining... very few people in Madeira are depressed,” says Peter, our high-energy canyoning guide from Epic Madeira.

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Delicious dishes in Madeira include espetada, a beef brochette; battered black scabbard fish, which is similar to sword fish; bolo do caco, bread with butter and garlic; grilled limpets; and bolo de mel, a dense sponge cake with nuts and spices.

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Portuguese is the official language in Madeira. It is worth picking up a few key phrases if you want to be polite, such as 'please', 'thank you,' etcetera, although English is widely spoken in tourist areas. People who have visited the Portuguese mainland may notice a thicker accent in Madeira.

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It is a Portuguese island and thus a part of the European Union. As an EU citizen, you can move freely to the island. However, after three months, you have to formalize your existing right for residency at your local city council.

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Madeira Islands, Portuguese Arquipélago da Madeira, archipelago of volcanic origin in the North Atlantic Ocean, belonging to Portugal. It comprises two inhabited islands, Madeira and Porto Santo, and two uninhabited groups, the Desertas and the Selvagens.

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Climate: Madeira enjoys a subtropical climate, characterized by mild temperatures throughout the year. The island experiences warm summers and mild winters, making it an appealing destination for those seeking a pleasant and comfortable climate.

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Buying property in Portugal allows you to acquire a Portugal residence permit, as long as you stay in the country for a minimum of 14 days each two years. That means you can buy a property in Portugal and get residency. Moreover, you may apply for citizenship and an EU passport five years after obtaining residency.

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When you have the Golden Visa in Madeira, if you maintain your residence permit and investment for five years, you qualify for permanent residency. You then have the option of applying for Portuguese citizenship.

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