Regional Directorate of Statistics of Madeira releases today, on its official website, the publication of Construction and Housing Statistics for the Autonomous Region of Madeira
For the year 2024, the Regional Directorate of Statistics of Madeira (DREM) releases on its official website the publication of the Construction and Housing Statistics for the Autonomous Region of Madeira (ARM) and at the same time, the time series on Construction and Housing and on the System of Indicators of Urban Operations (SIUO) are updated.
System of Indicators of Urban Operations (SIUO) – Completed buildings decreased in 2024, whereas licensed buildings increased
According to estimates of Completed Buildings in the ARM, in 2024, 380 buildings were completed, representing a decrease of 16.1% compared with the previous year. An estimated 1 105 dwellings were completed, corresponding to an increase of 29.5% compared with 2023 (853 dwellings).
With regard to buildings permits, these amounted to 598 buildings, recording a growth of 16.3% compared with 2023 (514 buildings). A total of 1 280 dwellings were licensed, -2.7% compared with 2023 (1 315 dwellings).
Annual Survey on Construction Enterprises – Value of works carried out by construction enterprises grew by 17.5% in 2023
In 2023, the value of works carried out by construction enterprises headquartered in the ARM amounted to 904.4 million euros, representing a growth of 17.5% compared with 2022. Among enterprises with 20 or more persons employed (656.5 million euros), this increase was less pronounced (+16.6%) than in enterprises with fewer than 20 persons employed (247.8 million euros; +20.0%).
Considering all enterprises, regardless of size, the overall growth was essentially determined by the 32.2% increase in the value of works carried out on buildings (628.8 million euros), as the value of works on civil engineering projects (275.5 million euros) recorded a decrease of 6.3%.
Other data on the Housing Market – In 2024, more dwellings were transacted at higher prices
In 2024, 3 820 dwellings were transacted, corresponding to an increase of 15.8% compared with 2023. The value of these transactions amounted to 1 026.2 million euros, representing an increase of 37.3% compared with 2023.
In the same year, the median value of bank appraisals of dwellings in the ARM was set at 1 904 euros/m² – the highest value in the series that began in 2011 – representing an increase of 14.8% compared with 2023.
In 2024, the median price of dwellings sold in the Region stood at 2,395 euros/m², representing an increase of 26.8% compared with the previous year.
The median rent of the 1 349 new lease contracts for dwellings signed in 2024 in the Region was 9.60 euros/m², higher than in the previous year (8.33 euros/m²).
Cement Sales – Growth of 8.9% in cement sales
In 2024, cement sales in the ARM were estimated at 175 714 tonnes, up by 8.9% over the previous year (161 312 tonnes).
The value of cement sold in the reference year amounted to 24.6 million euros, representing an increase of 22.8% compared with the previous year (20.1 million euros).