In the 2nd quarter of 2023

Value of transacted dwellings in the Autonomous Region of Madeira (ARM) decreased compared to both the previous quarter and the same period last year

During the 2nd quarter of 2023, a total of 795 dwellings were transacted in the Autonomous Region of Madeira (ARM), representing a quarterly decrease of 11.5% and a year-on-year drop of 27.7%. Out of the total dwellings sold during the quarter, 666 were existing dwellings (83.8% of the total), while the remaining 129 (16.2%) were new dwellings. When comparing with the previous quarter, both types of dwellings showed similar trends, with sales of existing dwellings decreasing by 11.7% and sales of new dwellings declining by 10.4%. When compared to the same quarter in the previous year, the respective changes were -28.2% and -25.4%. 

The total value of dwellings transacted during this quarter amounted to 186.0 million euros, down by 4.8% over the preceding quarter (195.3 million euros) and down by 18.2% over the same quarter last year (227.3 million euros). In the case of new dwellings, the sales value reached 37.7 million euros (a decrease of 11.5% compared to the same quarter of the previous year), while for existing dwellings, it stood at 148.2 million euros (a drop of 19.7%). 

During the reference quarter, Madeiran households acquired 664 dwellings, which is a decrease of 13.7% and 23.3% compared to the previous and the same quarter last year, respectively. In terms of value, these transactions amounted to 152.9 million euros, representing a 6.9% decline compared to the previous quarter and a 11.6% reduction compared to the 2nd quarter of 2022. 

Nationwide, a total of 33,600 dwellings were transacted during the 2nd quarter of 2023, indicating a quarterly decrease of 2.5% and a year-on-year drop of 22.9%. These transactions generated 6.9 billion euros, which is 0.7% higher than the 1st quarter of 2023 but 16.7% lower than the same period of the previous year.

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