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In 2015, the number of building permits in Autonomous Region of Madeira increased while the number of completed buildings decreased

In 2015, the Autonomous Region of Madeira (ARM) housing stock was estimated at 92,829 classic residential buildings and 130,789 dwellings, representing annual growth rates of 0.1% and 0.2% over the previous year, respectively.

The number of works completed in the ARM stood at 178 buildings, dropping by 20.2% from the previous year. The number of dwellings completed also decreased from 181 to 96 (-47.0%) between 2014 and 2015.

Compared to 2014 the number of building permits increased by 7.6% (226 building permits in 2015) and the dwelling permits dropped by 7.3%.

In 2014, the 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 73.6 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.

In 2014, the value of performed works by construction enterprises decreased

In 2014, the value of performed works by construction enterprises with 20 and more employees headquartered in the Autonomous Region of Madeira declined by 3.9% compared to 2013, despite the 1.6% growth in the civil engineering works. The performed works in buildings registered a significant decrease (-29.5% compared to 2013). This decline affected both residential buildings (-39.7%, corresponding to -6.6 million euros) and non-residential buildings (-25.8%, corresponding to -12.0 million euros).

In 2015 there were more transacted dwellings and the average value of bank evaluation of living quarters also increased

The figures show an increase in the number and value of transacted dwellings in the Autonomous Region of Madeira between 2014 and 2015. In this year, there was a total of 2,123 transacted dwellings (up by 36.0%), which generated a sales value of 273.1 million euros (+36.9%).

In 2015, the average value of bank evaluation of living quarters increased by 2.2% (1,182 euros/m2) over 2014, interrupting a period of 4 years of consecutive decreases.


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