Real Estate Transactions in Madeira Reach Highest Level Since 2009

21 September 2018

The total volume of real estate transactions reached 503.9 million euros in 2017. The average value of each stood at approximately 103,500 euros.

The total volume of real estate transactions in Madeira reached 503.9 million euros in 2017, the highest figure since 2009, the Regional Directorate of Statistics (DREM) reported. The increase over the previous year reached 33.2%.

In 2017, 4,868 sales contracts were finalised in Madeira, up 23% year-on-year.

Most of these contracts (72.4%) were for urban buildings, 24.5% for rural buildings and 3.1% for mixed buildings, the regional statistical agency stated.

The average value of the buildings sold reached €103,500, an increase of 8.3% over the same period last year.

For rural buildings, the figure increased to €132,400, up 1.1% over the previous year. Funchal had the highest average price at €163,200.

Original Story: Jornal Econômico – Ruben Pires

Photo: Cristina Bernardo

Translation: Richard Turner