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T2 house for sale located in Ribeira Seca, in the municipality of Machico
Machico, Ilha da Madeira, Portugal
REF: 917066
€59,500
Description
T2 house for sale located in Ribeira Seca, in the municipality of Machico. This property consists of two floors and a total of 6 rooms, offering excellent potential for complete renovation. The house is currently in a state of ruin, making it ideal for those looking to undertake a reconstruction project and customize it to their preferences. According to paragraph 2 of Article 18 of Decree-Law No. 101-D/2020, of December 7, in its current wording, this property is exempt from the obligation of energy certification, as it is a single-family home with a usable floor area equal to or less than 50 m². This exemption has been confirmed through a declaration issued on the SCE Portal by a Qualified Expert, based on evidence collected and submitted on the said portal. The validity of this declaration remains as long as the property remains in its current condition, which supported this classification. With a quiet location in Ribeira Seca and close to services and amenities, this is a unique opportunity for investment or the construction of your dream home. #ref: 132353
T2 house for sale located in Ribeira Seca, in the municipality of Machico. This property consists of two floors and a total of 6 rooms, offering excellent potential for complete renovation. The house is currently in a state of ruin, making it ideal for those looking to undertake a reconstruction project and customize it to their preferences. According to paragraph 2 of Article 18 of Decree-Law No. 101-D/2020, of December 7, in its current wording, this property is exempt from the obligation of energy certification, as it is a single-family home with a usable floor area equal to or less than 50 m². This exemption has been confirmed through a declaration issued on the SCE Portal by a Qualified Expert, based on evidence collected and submitted on the said portal. The validity of this declaration remains as long as the property remains in its current condition, which supported this classification. With a quiet location in Ribeira Seca and close to services and amenities, this is a unique opportunity for investment or the construction of your dream home. #ref: 132353
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Currency Exchange
Machico, Ilha da Madeira, Portugal
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Portugal do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Portugal takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €59,500 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €59,500 | £49,022 | £51,651 | £2,629 |
| Property Price € | €59,500 |
| Minimum cost in the last six months | £49,022 |
| Maximum cost in the last six months | £51,651 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £2,629 |
Machico, Ilha da Madeira, Portugal
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Portugal do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Portugal takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €59,500 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €59,500 | £49,022 | £51,651 | £2,629 |
| Property Price € | €59,500 |
| Minimum cost in the last six months | £49,022 |
| Maximum cost in the last six months | £51,651 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £2,629 |
The exchange rate on the day you make an offer on your property in Portugal will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £2,629 more.
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