House prices in Madeira increased by 2.5% in August

Compared to a year ago, prices per square meter of housing are 22.4% higher.

House prices in the Autonomous Region of Madeira increased by 2.5% in August compared to the previous month, with emphasis on increases in Machico, Santa Cruz and Funchal and decreases in São Vicente and Santana.

“According to the idealista price index”, real estate portal, “buying a house in Madeira had a cost of 2,255 euros per square meter (euros/m2) at the end of August, taking into account the median value. quarterly variation, the increase was 9% and the annual increase was 22.4%”.

“Prices in the region rose in Machico (6.4%), Santa Cruz (4.2%), Funchal (3%), Calheta (2.5%), Ribeira Brava (1.7%) and Ponta do Sol (0.1%). Prices remained stable in Ponta do Sol. In the opposite direction, prices fell in São Vicente (-13.7%) and Santana (-1.6%)”, he guarantees.

Naturally, “the most expensive municipality to buy a house is Funchal (2,532 euros/m2)”, the only one above the regional average, “followed by Calheta (2,160 euros/m2), Câmara de Lobos (1,855 euros/m2) and Ribeira Brava (1,825 euros/m2). On the other hand, the cheapest are São Vicente (1,034 euros/m2), Santana (1,054 euros/m2), Machico (1,357 euros/m2), Santa Cruz (1,463 euros/m2) and Ponta do Sol (1,518 euros/m2)”, he adds. “Following the trend in the region, houses in Porto Santo rose 2.3% during the same period analyzed, setting the price per square meter at 1,533 euros/m2”.

From Diário Notícias