Housing Prices Rise by 5.4% in Madeira, Making it the Third Most Expensive Region in Portugal

28 May 2018

The Algarve leads the list followed by the Lisbon Metropolitan Area.

Banking valuations of housing prices in Madeira are continuing to increase. In April, the square meter stood at 1,292 euros, an increase of 1.9% compared to March and 5.4% compared to the same period last year, the Regional Directorate of Statistics (DREM) announced. This makes the Madeira the third most expensive region in Portugal, behind the Algarve and the Lisbon Metropolitan Area.

The square meter in the Algarve currently costs 1,467 euros and 1,423 euros in the Lisbon Metropolitan Area.

The increase in banking valuations in Madeira also apply to apartments, whose cost increased by 2.7% m-o-m and 9.2% y-o-y to 1,343 euros per square meter, and to houses, which saw more moderate growth to 1,232 euros per square meter, a monthly rise of 1.2%.

Funchal continues to be the most expensive municipality in Madeira with 1,420 euros per square meter. There, the cost of apartments rose to 1,528 euros per square meter while that of houses increased to 1,281 euros per square meter.

Original Story: Jornal Econômico – Ruben Pires

Translation: Richard Turner