Buying a house in Madeira is more expensive

House prices in the Autonomous Region of Madeira increased by 2.2% in February compared to the previous month. According to the idealista price index, buying a house had a cost of 1,956 euros per square meter (euros/m2) at the end of February this year, taking into account the median value.

In February, house purchase prices in the Region increased in Ponta do Sol (4.4%), Câmara de Lobos (3.2%), Funchal (2.2%), Calheta (1.8% ), Santa Cruz (1.2%) and Santana (0.4%). On the other hand, prices fell in Machico (-4.1%) and Ribeira Brava (-0.5%). In São Vicente, prices remained unchanged in the second month of the year.

The most expensive municipality to buy a house is Funchal (2,181 euros/m2), followed by Calheta (2,001 euros/m2) and Ribeira Brava (1,694 euros/m2). On the other hand, the most economical are Santana (976 euros/m2), São Vicente (1,030 euros/m2) and Machico (1,195 euros/m2)

Contrary to the trend on the island of Madeira, houses in Porto Santo fell by 2% during the same period, setting the price per square meter at 1,402 euros/m2.

From Diário Notícias