In the first quarter of 2022

Transacted dwellings in the Autonomous Region of Madeira hit a record high

In the first quarter of 2022, 1,024 dwellings were traded in the Autonomous Region of Madeira, which represents a quarterly increase of 4.5% over the previous quarter and a 35.8% rise compared to the first quarter of 2021.

Of the total number of dwellings sold in the reference quarter, 829 were existing dwellings (81.0% of the total) and the remaining 195 (19.0%) were new dwellings. Compared to the previous quarter, these two types of dwellings showed opposite trends, i.e., the number of existing dwellings went up by 5.7% (+34.8% y-o-y) while in the case of new dwellings there was a 0.5% decrease (+40.3% y-o-y).

The value of transacted dwellings in the reference quarter totalled 204.6 million euros, representing a 12.3% increase over the previous quarter (182.2 million euros) and a 67.2% rise compared to the same quarter of the prior year (122.3 million euros). The sales value for the new dwellings reached 55.0 million euros (+72.2% than in the same quarter of the previous year), while the value of existing dwellings stood at 149.6 million euros (+34.8%).

Once again, in both number and value of dwellings transacted, the previous highs were surpassed.

In the quarter under review, Madeiran households acquired 863 dwellings, up by +1.5% and by +29.0% over the previous quarter and over the same quarter, respectively. In terms of value, transactions of this nature amounted to 174.6 million euros, increasing by 10.1% over the previous quarter and by 62.3% compared to the first quarter of 2021.

In Portugal, the number of transacted dwellings in the first quarter of 2022 reached 43.5 thousand (a quarterly decrease of 5.1% and a year-on-year increase of +25.8%). These transactions generated a sales value of 8.1 billion euros, -1.7% compared to the fourth quarter of 2021 and +44.4% over the same period of the previous year.

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