Funchal is the Portuguese city with the highest percentage of foreigners looking for a home

Tobi Hughes·
Madeira News

Of the total demand for a house to buy in the city of Funchal, 45.3% came from foreign citizens last year, according to idealista. The capital of Madeira is the one that, across the country, has the highest percentage of foreigners in the total demand in each city.

According to that portal, compared to the previous quarter, foreigners’ demand for homes for sale fell 1.2 percentage points nationally at the end of 2023, when the end of golden visas for real estate investment came into force. The biggest falls were recorded in Viseu, Coimbra and Viana do Castelo.

Still, at the end of 2023, there were four cities where at least three in 10 people looking for houses to buy were foreigners. This was the case of Funchal (45.3%), Ponta Delgada (40.1%), Faro (32.7%) and Viana do Castelo (31.1%). Évora, Coimbra and Beja were the cities least researched by families residing outside the country.

With regard to leasing, idealista indicates that there is a drop in international demand for this market. However, Funchal, together with Bragança and Viana do Castelo, is one of the cities that most attracted foreign families to rent housing at the end of last year, with 37.7% of the demand for houses to rent coming from outside the country.

From Jornal Madeira

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Tobi Hughes

5 Responses

  3. It was in the days of the escudo, and turning left from the right-hand lane at traffic lights, that my wife and I purchased our 25 year time share.

    We would visit Madeira for 3 weeks in the early autumn, and over the years also came a couple of times in the summer. Each visit we hired a car for several days and explored all over the island, still discovering new things, even during the last years of our lease.

    A favourite area was Pico Arieiro, which we drove to every year via Monte and the spectacular scenery along the way. In the early years we “did” the Peak to Peak, but latterly, being in our late 80s, we could just manage the short walk around the satellite dome. However, during our last year on our trip to Arieiro, we found what had become difficult parking was now impossible, every single parking space full with cars and many others looking. The extra, recently provided rough space, had some slots, but is positioned far too far away for us. We simply had to turn around and leave.

    What we have very noticeably seen over the last few years is what your other correspondents have mentioned – overcrowding and commercialism. A little example: we miss the little stall holders who for some years have been prohibited from trading at the more popular visitor sights.

    We abhor the constant building at places that hardly seem appropriate. Whilst work and income is always needed for a population, we wonder just how much of this new income noticeably improves the life of the local poorer elements of Madeiran society.

    Of course, as just visitors, little did we realise it at the time, but my wife and I were having the best years of Madeira.

    Alan Davis

    1. You certainly did, and now the over crowded places are all get spoilt, and will continue to do so for some time yet. But what goes round, comes round and this I believe very much… ????????????

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