Two new luxury golf developments to be built on Madeira

Plans for two new golf courses and luxury property developments on Madeira are reportedly close to being finalised, offering a "good property investment opportunity". A similar scheme is also being planned on the neighbouring island of Porto Santo.

Property investors will be able to choose from two new luxury golf developments on Madeira, according to Homesoverseas.co.uk. Work is due to commence on the schemes, the Calheta Golf Course in the Ponta do Pargo region and another in the Sao Vicente area further north, next year. The developments should be completed by 2011

"Golf is a great catalyst for attracting high net worth individuals and boosting local infrastructure facilities. Expect properties located in and around these prospective courses to appreciate over the next few years - a potentially good property investment opportunity," writes Homesoverseas.co.uk.

Details of the luxury property developments have not yet been made public, but it is claimed that local authorities are buying up the land adjacent to the Calheta Golf Course with the aim of building a major residential development.

Nick Faldo will be behind the Calheta Golf Course and it is thought that Severiano Ballesteros will put his name to the course in the Sao Vicente area as well as another on neighbouring Porto Santo, which is due to be completed in the same time frame.

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