In 2014

Building permits and completed buildings continued to decrease in Madeira

In 2014, the Autonomous Region of Madeira (RAM) housing stock was estimated at 92,935 classic residential buildings and 131,024 dwellings, representing annual increase rates of 0.1% and 0.2% over the previous year, respectively.

The number of works completed in Madeira stood at 252 buildings, dropping by 47.4% from the previous year. The number of dwellings completed also decreased from 521 to 195 (-62.5%) between 2013 and 2014.

Compared to 2013 the number of building permits dropped by 21.4% (209 building permits in 2014) and the dwelling permits followed the same trend decreasing by 5.6%.

Purchase and sale contracts of real estate and mortgage credit declined

The number of contracts of real estate purchase and sale decreased by 13.6% vis-à-vis the previous year, and the average value of the traded real estates also decreased from 84.0 thousand euros in 2013 to 76.2 thousand euros in 2014.

There was also a decline in the number of contracts of loan agreements with conventional mortgage (-15.2%), although the mean value of mortgaged real estates increased from 170.9 thousand euros in 2013 to 194.4 thousand euros in 2014.

In 2014, the mortgage credit granted to singular persons per inhabitant stood at 141 euros, dropping by 8.4% over the previous year.

Value of performed works by construction enterprises increased

In 2013, the value of performed works by construction enterprises with 20 and more employees headquartered in the Autonomous Region of Madeira rose by 2.4% compared to 2012, mainly due to the increase in the civil engineering works (+12.1%). The performed works in buildings registered a significant decrease (-26.9% compared to 2012). This decline affected both residential buildings (-50.9%, corresponding to -17 million euros) and non-residential buildings (-11.4%, corresponding to -6 million euros).

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