President Highlights Economic Opportunities
During a visit to a newly opened rental property in Paul do Mar, according to Diário de NotÃcias da Madeira an investment valued at 800,000 euros. Madeira’s president Miguel Albuquerque, spoke about the importance of international investment in the island’s economy. The property, owned by emigrants now living in Ecuador, represents a growing trend of overseas funding in Madeira’s real estate market. Albuquerque stressed that maintaining an open economy is key to long-term financial stability and development.
We are working to ensure a cohesive and harmonious society, where locals can have access to affordable housing.
President Albuquerque, Diário de NotÃcias da Madeira
Rising Property Prices Bring Challenges
As more investors choose Madeira, the demand for real estate has driven prices higher. Albuquerque acknowledged that, saying this increase shows confidence in the region. But it also makes it harder for local residents to afford housing. To address this, the government has introduced several housing initiatives, including affordable rental programs and social housing projects. These efforts aim to ensure that residents are not priced out of their communities.
Madeira must continue to be open to foreign investment and international tourism, but without forgetting the reality of our population.
President Albuquerque, Diário de NotÃcias da Madeira
Encouraging Local Entrepreneurs to Invest
Beyond foreign interest, the president emphasized the need to attract young Madeirans back to the island. He encouraged local entrepreneurs to start businesses and invest in their home region, helping to strengthen the economy from within. One example he mentioned is the planned construction of a new golf course in Ponta do Pargo, which is expected to bring more visitors and create new job opportunities.
Needless to say, job opportunities for locals on a golf course catering mainly to wealthy foreigners won’t attract them for obvious reasons. Moreover, the industry favors filling these positions with cheap foreign labor.
Balancing Tourism and Community Needs
While supporting international investment and tourism, Albuquerque stressed that the government remains focused on the well-being of Madeira’s population. He again mentioned that development must go hand in hand with policies that protect residents’ access to housing and economic stability.
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