Houses for sale in Madeira cost an average of 490 thousand euros. The average rental price is 1,500 euros

The Imovirtual portal has just published a study that analyses the evolution of the real estate market in Madeira, with data referring to the comparison of July this year with the same period, July 2023, and with June 2024.

In July, according to Imovirtual, the sale price of properties grew again, to an average of 490 thousand euros, reflecting an increase of 19.51% compared to July 2023 (410 thousand euros). Compared to the previous month, there was an increase of 3.16% (475 thousand euros).

The municipality that recorded the largest increase in the average sale price of houses compared to last year was São Vicente, from €325,000 to €520,000 (60%). On the other hand, the municipalities that recorded a decrease in the average sale price were Santana, -32% (€250,000 to €170,000) and Porto Moniz, -20% (€280,000 to €225,000).

Regarding rent, the average rental value was 1,500 euros in July 2024, which represents an increase of 15.38% compared to the same period last year (1,300 euros). Compared to the previous month, there was a slight decrease of -1.32% (1,520 euros).

From Jornal Madeira