Before even reading this, I know properties that have almost doubled in value over the last 18 months.
The rise in house prices has been a hot topic in recent times given the influence it has on the daily lives of the Portuguese. Across the country there are significant increases in house prices, as revealed by several studies.
In the specific case of the island of Madeira, this increase does not happen uniformly, although there is no municipality where the price of houses has doubled in the space of just one year. In a work recently published by Jornal de Negócios it is possible to see that only in the municipalities of Ribeira Brava and São Vicente was there a decrease in house prices, decreases of up to 10%.
The data presented are based on those released by the National Institute of Statistics (INE). In Funchal, the increase was 20.73%, from a median value of sales in the 1st Quarter of 2022 of 1,799 euros per square meter to 2,172 euros per square meter in 2023.
The biggest increase took place in the municipality of Câmara de Lobos, the only one in the Region with an increase of more than 30%. By the way, in this parameter, the municipality even presents an increase of 31.24%. It went from 1,130 euros per square meter to 1,483 euros per square meter.