STUDY INDICATES THAT HOUSE PRICES IN MADEIRA ROSE 14.2% IN THE LAST YEAR

The price of houses in the Autonomous Region of Madeira rose 14.2% in a year, considering data from June 2021 and the same month last year. According to the idealista’s price index, at the end of June 2021, buying a house had a cost of 1,777 euros per square meter (euro/m2). In relation to the quarterly variation, the increase was 0.1%.

Funchal presented an increase of 8% costing the price of 1,998 euros per square meter. In the last year, prices dropped in only one parish of Funchal: Sé (-1.6%). On the other hand, also indicates the Idealista, the biggest increases were in the parishes of Santa Luzia (27%), Santo António (20%), São Roque (11.7%) and Monte (10.9%). The cheapest parishes to buy a house in Funchal are São Roque (1,401 euros/m2), Monte (1,459 euros/m2) and Santo António (1,624 euros/m2). On the other hand, the most expensive are Sé (2,372 euros/m2), São Martinho (2,216 euros/m2) and Santa Luzia (2,062 euros/m2).

Of the 10 municipalities analyzed in Madeira, Câmara de Lobos showed the highest increase (31.9%), followed by Ribeira Brava (20.7%), Calheta (14.4%), Porto Moniz (12.5%) , Santa Cruz (10.7%) and Machico (10.4%). Prices decreased in Santana (-3.7%) and São Vicente (-0.5%).

In Porto Santo, the study reveals that prices rose by 3.3% in the last 12 months, placing the price per square meter at 1,368 euros.

Compared to the rest of the country, housing increased by 7.4% over the same period, standing at 2,224 euros/m2.

From Jornal Madeira

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