House Prices in Madeira Rise by 11.4% in April
According to recent data from Funchal Noticias, the price of houses in Madeira has increased by 11.4% in April compared to the same period last year. The median value for buying a house in Madeira reached €3,346 per square meter, making the region the third in the country with the largest increase in the past year, behind the Azores (14.8%) and the Alentejo (12.1%).
The data, which is based on the idealista price index, shows that the price of houses in Madeira has been steadily rising. The idealista price index is based on offer values per square meter constructed, excluding atypical advertisements and dwellings without recent interaction. As Funchal Noticias reports, “the value mediano for comprar casa na Madeira atingiu os 3.346 euros por metro quadrado (€/m²), tornando a região na terceira do país com maior aumento no último ano”.
The most expensive council to buy a house in Madeira is Funchal, with a price of €3,594 per square meter, followed by Calheta (€3,442 per square meter), Ponta do Sol (€3,159 per square meter), Santa Cruz (€2,659 per square meter), and Câmara de Lobos (€2,571 per square meter). However, it was Santa Cruz that recorded the largest increase in prices, with a rise of 25.8%, followed by São Vicente (24.9%), Ponta do Sol (10.5%), Funchal (8.8%), Calheta (7.2%), and Câmara de Lobos (5.7%).
Santana was the only exception, with a decrease of 0.8%, making it the most affordable municipality with a price of €1,521 per square meter. On the island of Porto Santo, the price of houses increased by 22.1% in the past year, with a median value of €2,776 per square meter.
In comparison, the continental Portugal saw a significant increase in house prices, with a rise of 27.2%. Lisbon was the most expensive city, with a median price of €5,615 per square meter, followed by Porto (€3,741 per square meter). As Funchal Noticias notes, “no continente, o preço médio das habitações subiu 27,2%, com Lisboa em primeiro lugar (5.615 €/m²), seguida do Porto (3.741 €/m²)”.
The data suggests that the housing market in Madeira is experiencing significant growth, with many areas seeing substantial increases in house prices. As reported by Funchal Noticias, the region is becoming increasingly popular with buyers, driving up demand and prices. With its stunning natural beauty and desirable climate, Madeira is likely to continue to attract buyers and investors in the coming years.
The rise in house prices in Madeira is also reflected in the number of transactions taking place. According to Funchal Noticias, the number of housing transactions in the region has been increasing, with many buyers looking to take advantage of the current market conditions. As the publication notes, “o preço das casas na Madeira registou uma subida de 11,4% em abril” – a trend that is likely to continue in the coming months.
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