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In the  3rd quarter 2017

Median price of dwelling sales in the Autonomous Region of Madeira stood at 1 094 euros per square meter

The Regional Directorate of Statistics of Madeira (DREM) releases an update of the quarterly time series of the median price of dwelling sales per square meter for the Autonomous Region of Madeira (which starts at the 1st quarter 2016) now including the information for the 3rd quarter 2017.

It should be stressed that in this release, besides the update with the more recent information, new data are also added, as the breakdown by civil parishes of Funchal and by typology of dwellings.

DREM suggest the use of Statistics Portugal web application for the interactive search of median price on dwellings sales (€/m2) which can be accesses through http://geohab.ine.pt and allows to select a statistical section or a 500m x 500m grid for the city of Funchal.

In the Statistics on house prices at the local level, the median (value that separates the sorted set of prices per square meter in two equal parts) is used as the reference value for dwellings sales (€/m2), which allows to remove the effect of extreme values of the house transactions market analysis at the local level. In addition, the choice of an annual period allows the elimination of possible seasonal effects on price behaviour, as well as increasing the geographical detail of the results.

In the 3rd quarter 2017 (last 12 months), the median price of dwelling sales in the Autonomous Region of Madeira was 1 094 euros per square meter, the highest value since the 1st quarter 2016 (1st period of the series), standing above the national average (912 euros). Compared to the previous quarter, the growth was 2.9%, while in year-on-year terms the change rate was 6.6%. The value for new dwellings (1 186 euros) was higher than the value for existing dwellings (1 046 euros).

In the reference quarter, the median value of dwelling sales in Portugal stood at 912 euros, the highest vale of the series, reaching 1 051 euros for the new dwellings and 887 euros for the existing dwellings.

 

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