For the first quarter of 2026

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

Statistics Portugal (INE) today released information on the median price of family dwellings, relating to the first quarter of 2026. This note is divided into two parts, one with the analysis of the results for the quarter in question, considering only the three months of the quarter, and another with information for the last twelve months.

It should also be noted that results are released regarding the number of transactions of family dwellings, with data available since the fourth quarter of 2019.

It should also be recalled that this information is produced from administrative tax data of 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, on the basis of a collaboration protocol established between these two bodies.

Median price of family dwellings over the last three months, in the ARM, grew year-on-year, but stood below that observed nationally

In the first quarter of 2026 (last 3 months), the median price of family dwellings in the ARM was 2 863 euros/m², positioning itself substantially above the national value (2 337 euros/m²). Among the current nine NUTS 2 regions, only Grande Lisboa (3 836 euros/m²), Algarve (3 352 euros/m²) and Peninsula de Setúbal (2 996 euros/m²) exceeded the ARM's value. Alentejo (1 170 euros/m²) was the region with the lowest value.

While in the fourth quarter of 2025 the year-on-year rate of change of the median value of family dwelling sales per m² was -8.3%, in the first quarter of 2026, in the opposite direction, an increase of 13.7% was observed, a value below that recorded nationally (+19.8%). Compared with the previous quarter, the ARM recorded an increase of 7.8%, a value higher than that observed for the country as a whole, which stood at 6.3%.

Considering municipalities with more than 100 thousand inhabitants, Funchal recorded a median price of 3 601 euros/m², higher than that of the ARM (2 863 euros/m²), showing a year-on-year increase of 23.0%. Compared with the previous quarter, however, there was a decrease of 0.3%.

In the first quarter of 2026, the median value of family dwellings transacted in the ARM involving buyers with fiscal domicile abroad was 3 295 euros/m², while, in the case of transactions carried out by buyers with fiscal domicile in national territory, this value was 2 810 euros/m². The median price of family dwellings acquired by Households was 2 961 euros/m² and by buyers belonging to the remaining institutional sectors,     2 497 euros/m².

Funchal ranks 9^th among the country's municipalities with the highest median value

In the first quarter of 2026 (last 12 months), the median price of family dwellings in the ARM was 2 578 euros/m², a value above that recorded for the country (2 168 euros/m²). It should be noted that the ARM's value was only below Grande Lisboa (3 598 euros/m²), Algarve (3 240 euros/m²) and the Peninsula de Setúbal (2 747 euros/m²). It should also be noted that, in the ARM, the value of the new dwellings segment (2 982 euros/m²) continued to exceed the value of existing dwellings (2 447 euros/m²), by 535 euros/m². It should be noted that, in the first quarter of 2026, the ARM recorded the lowest year-on-year growth among the nine NUTS 2 regions, at +3.5%, a value lower than the national average (+17.5%).

In this period, the median value of family dwellings transacted in the ARM acquired by buyers with fiscal domicile abroad was 3 264 euros/m², higher than that of transactions carried out by buyers with fiscal domicile in national territory, which stood at 2 510 euros/m². The median price of family dwellings acquired by Households was 2 632 euros/m² and by buyers belonging to the remaining institutional sectors, 2 321 euros/m². 

In the municipality of Funchal, the median housing price, in the first quarter of 2026, stood at 3 322 euros/m². This municipality and that of Santa Cruz (2 617 euros/m²) were the only ones in the ARM to record values above the regional average.

In the national ranking, Funchal ranked 9^th among the municipalities with the highest median value (14^th in the previous quarter and 7^th in the same quarter of the previous year). The list continues to be led by Lisboa (5 082 euros/m²), with the following positions occupied by Cascais, Oeiras, Loulé and Lagos.

In addition to Funchal and Santa Cruz, the municipalities of Câmara de Lobos, Machico and Porto Santo, although recording prices below the ARM average, stood out, as they presented values of considerable significance, above 2 000 euros/m² (2 500 euros/m², 2 027 euros/m² and 2 484 euros/m², respectively). The lowest value was observed in São Vicente (1 331 euros/m²).

In the parishes of the municipality of Funchal, São Martinho (4 195 euros/m²) and Sé (3 851 euros/m²) stand out, as they present, in the first quarter of 2026, significant values, above 3 800 euros/m². These two parishes are also the only ones positioned above the municipality's average (3 322 euros/m²). These are followed by São Pedro (2 963 euros/m²), Santa Luzia (2 895 euros/m²) and Imaculado Coração de Maria, with 2 883 euros/m².

In the parish of Caniço, the median price of family dwellings, in the first quarter of 2026, reached 2 803 euros/m², a value that exceeds that recorded for the municipality of Santa Cruz as a whole (2 617 euros/m²) by 186 euros/m².

In the first quarter of 2026, in the ARM, the median price of sales of two-bedroom (T2) dwellings was 2 724 euros/m², the highest when compared with the other typologies (studio or one-bedroom (T0 or T1): 2 669 euros/m²; three-bedroom (T3): 2 615 euros/m²; four-bedroom or larger (T4 or higher): 1 829 euros/m²). In the municipality of Funchal, all typologies under analysis presented values substantially higher than those of the Region, with studio or one-bedroom (T0 or T1) dwellings recording the highest value (3 872 euros/m²).

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