For the 4^th quarter of 2024

DREM releases information on the median price of family dwellings in the Autonomous Region of Madeira

Statistics Portugal (INE) released today the data on the median price of family dwellings for the 4^th quarter of 2024. This press release is divided into two parts: one with an analysis of the results for the reference quarter, considering only the three months of that quarter, and the other with information for the past twelve months.

It is worth noting that, starting with this publication, results on the number of transactions of family dwellings are now being released, with available data starting from the 4^th quarter of 2019.

It is also important to recall that this information is produced based on administrative tax data from the Municipal Tax on Onerous Property Transfers (IMT) and the Municipal Property Tax (IMI), provided monthly by the Tax and Customs Authority (AT) to INE, under a cooperation protocol established between the two institutions.

Median price of dwellings in the last three months in the Autonomous Region of Madeira increased in year-on-year terms, surpassing the national trend

In the 4^th quarter of 2024 (last 3 months), the median price of dwellings in the Autonomous Region of Madeira (ARM) was 2 895 euros/square meter, significantly above the national average of 1 870 euros/square meter. Among the nine current NUTS 2 regions, only Grande Lisboa (3 032 euros/square meter ) surpassed the Region’s value, while the Algarve (2 851 euros/square meter) was relatively close but still below. Alentejo (914 euros/square meter) was the only region with a value below 1 000 euros/square meter.

While in the 3^rd quarter of 2024, the year-on-year rate of the median value of sales of family dwellings per square meter had been +10.4%, in the 4^th quarter of 2024, this growth accelerated to +54.9%, well above that observed in the country (+15.5%). At the national level, an acceleration in the growth in housing prices was also observed, with the year-on-year rate increasing from +10.8% in the 3^rd quarter of 2024 to +15.5% in the 4^th quarter of 2024. Compared to the previous quarter, the Autonomous Region of Madeira increased by 24.4%, above the growth recorded in the country, whose value stood at 2.8%.

Considering municipalities with more than 100 000 inhabitants, Funchal recorded a median price (3 693 euros/square meter) higher than the ARM average (2 895 euros/square meter), showing a year-on-year growth of 51.1%. Compared to the previous quarter, the change was 27.0%.

In the 4^th quarter of 2024, the median value of dwellings transacted in the ARM involving buyers with tax residence abroad was 3 606 euros/square meter, whereas, for transactions made by buyers with tax residence within the national territory, this value was 2 857 euros/square meter. The median price of dwellings acquired by households was 2 750 euros/square meter, and for those buyers belonging to other institutional sectors, it stood at 3 013 euros/square meter.

Funchal ranked 6^th amongst municipalities with the highest median value in the country

In the 4^th quarter of 2024 (last 12 months), the median price of family dwellings in the Autonomous Region of Madeira was 2 395 euros/square meter, above the value recorded for the country (1 777 euros/square meter). It should be noted that the value of the Autonomous Region of Madeira was only below Grande Lisboa (2 939 euros/square meter) and Algarve (2 752 euros/square meter). In the Autonomous Region of Madeira, the value of the segment of new dwellings (3 151 euros/square meter) continued to exceed that of existing dwellings (2 019 euros/square meter), at 1 132 euros/square meter. In the 4^th quarter of 2024, the ARM recorded a year-on-year growth of 26.8% among the 9 NUTS 2 regions, higher than the national average (+10.3%). The lowest growth was observed in Algarve (+5.3%).

During this period, the median value of dwellings transacted in the ARM acquired by buyers with tax residence abroad was 2 928 euros/square meter, higher than for transactions made by buyers with tax residence within the national territory, which stood at 2 328 euros/square meter. The median price of dwellings acquired by households was 2 322 euros/square meter, while for buyers belonging to other institutional sectors, it was 2 788 euros/square meter.

In the municipality of Funchal, the median housing price, in the 4^th quarter of 2024, stood at 3 061 euros/square meter, making it the only municipality in the ARM to exceed the regional average.

In the national ranking, Funchal ranked 6^th among municipalities with the highest median value. The list continues to be led by Lisboa (4 340 euros/square meter), with the following positions occupied by municipalities in Grande Lisboa and Algarve.

In addition to Funchal, the municipalities of Santa Cruz, Câmara de Lobos, Machico and Porto Santo, although recording prices below the ARM average, stood out as they presented significant values above 1 800 euros (2 269 euros/square meter, 2 237 euros/square meter, 1 908 euros/square meter and 1 873 euros/square meter, respectively). The lowest value was observed in Santana (1 023 euros/square meter).  

In the parishes of the municipality of Funchal, São Martinho (3 700 euros/square meter) and Sé (3 684 euros/square meter),  stood out, as it presents, in the 4^th quarter of 2024, a value above 3 000 euros/square meter and being the only two, to exceed the municipal average (3 061 euros/square meter). Following the rank were São Pedro, with 2 624 euros/square meter, Santo António, with 2 616 euros/square meter, Santa Luzia, with 2 556 euros/square meter, and Imaculado Coração de Maria, with 2 344 euros/square meter.

In the parish of Caniço, the median price of dwellings, in the 4^th quarter of 2024, amounted to 2 415 euros/square meter, exceeding the average for the municipality of Santa Cruz (2 269 euros/square meter) by 146 euros/square meter.

In the 4^th quarter of 2024, in the ARM, the median price of sales of T0 or T1 type accommodations was 2 602 euros/square meter, the highest when compared to other typologies (T2, 2 572 euros/square meter; T3, 2 291 euros/square meter; T4 or higher, 1 506 euros/square meter). In the municipality of Funchal, all analysed typologies presented substantially higher values than the Region average, with T0 or T1 registering the highest value (3 272 euros/square meter).

For more information, please click on:

• Interactive Map
• Time series 

Back

• Prev
• Next