House Prices in Madeira Rise by 11.4% in April
According to recent data from jm-madeira.pt, house prices in Madeira have increased by 11.4% in April compared to the same period last year. The median price for buying a house in Madeira has reached €3,346 per square metre, making it the third region in Portugal with the highest increase in the past year, behind the Azores (14.8%) and Alentejo (12.1%).
The data, which is based on the idealista price index, shows that the region has seen significant growth in house prices. jm-madeira.pt reports that the idealista price index takes into account the median prices of properties for sale, excluding atypical advertisements and homes without recent interaction.
Regional Variations in House Price Growth
The data also highlights regional variations in house price growth across Madeira. Santa Cruz has seen the largest increase in house prices, with a 25.8% rise, followed by São Vicente with 24.9%, Ponta do Sol (10.5%), Funchal (8.8%), Calheta (7.2%), and Câmara de Lobos (5.7%). The only municipality to see a decrease in house prices was Santana, with a slight drop of 0.8%.
In terms of the most expensive municipalities to buy a house in Madeira, jm-madeira.pt reports that Funchal remains the priciest, with a median price of €3,594 per square metre, followed by Calheta (€3,442 per square metre), Ponta do Sol (€3,159 per square metre), Santa Cruz (€2,659 per square metre), and Câmara de Lobos (€2,571 per square metre). Santana remains the most affordable municipality, with a median price of €1,521 per square metre.
House Price Growth on Porto Santo
On the neighbouring island of Porto Santo, house prices have increased by 22.1% in the past year, with a median price of €2,776 per square metre. This growth is significantly higher than the national average, highlighting the increasing popularity of the island as a destination for property buyers.
National House Price Trends
At a national level, jm-madeira.pt reports that house prices have increased by 27.2% in the past year. Lisbon remains the most expensive city, with a median price of €5,615 per square metre, followed by Porto (€3,741 per square metre), and Funchal, which occupies third place with €3,594 per square metre.
Methodology
The idealista price index, as reported by jm-madeira.pt, is based on the median prices of properties for sale, excluding atypical advertisements and homes without recent interaction. The data reflects the median of valid advertisements in each market, providing a comprehensive overview of the current state of the property market in Madeira and Portugal. As jm-madeira.pt notes, the index provides valuable insights into the trends and patterns in the property market.
