Madeira is the region with the biggest increase in the price of houses per square meter (m2) between July and September this year, as is the capital of Madeira (Funchal) , which appears in the top3 of district capitals/autonomous regions, already above the 3 thousand euros/m2. In the Region, the average price rose 6.5% in this 3rd quarter to a maximum of 2,728 euros/m2, according to the indicator from the real estate portal Idealista.pt.
By municipalities, “prices in the region rose in Machico (12.1%), Calheta (11.8%), Ponta do Sol (8.8%), Câmara de Lobos (5.7%), São Vicente (5 %), Funchal (4.8%) and Santa Cruz (3.8%)”, while “in Santana (-0.4%) prices remained stable during this period. On the other hand, prices fell by Ribeira Brava (-1.7%)”, he highlights.
Naturally, “the most expensive municipality to buy a house is Funchal (3,084 euros/m2), followed by Calheta (3,046 euros/m2), Ribeira Brava (2,290 euros/m2), Ponta do Sol (2,288 euros/m2) , Câmara de Lobos (2,191 euros/m2) and Santa Cruz (1,827 euros/m2). On the other hand, the most economical are Santana (1,441 euros/m2), Machico (1,611 euros/m2) and São Vicente (1,672 euros/m2 )”, all already well launched. In fact, “following the region’s trend, houses in Porto Santo rose 5.6% during the same period analyzed, setting the price per square meter at 2,035 euros/m2”, he points out.