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In the 2nd half 2020

Number of new lease agreements in the Autonomous Region of Madeira had a significant increase, while the house rental value by square meter remained stable

In the 2nd half 2020 (last 12 months), the median house rental value of the 1,287 new lease agreements of dwellings in the Autonomous Region of Madeira was 5.99€/m2. Compared to the previous semester, the agreements rose by 13.5% and the median house rental value by 0.2%. By the same order, this represents a 23.9% growth and a null change when compared to the 2nd half of 2019.

Regarding house rental value by square meter, the Autonomous Region of Madeira was the fourth Region with the highest value among the seven Portuguese NUTS3 regions, behind Área Metropolitana de Lisboa (8.57 €/m2), Algarve (6.63€/m2) and Área Metropolitana do Porto (6,12 €/m2). The national average stood at 5.61€/m2.

Given the minimum number of 30 transactions, information is only available for the municipalities of Funchal (Câmara de Lobos e Santa Cruz), Machico, Calheta and the Ribeira Brava. In the year of reference, Funchal concentrated 864 of the 1,287 lease agreements, followed by Santa Cruz with 200, Câmara de Lobos with 57, Calheta with 44, Machico with 41 and Ribeira Brava with 30.

Looking at the median house rental value by municipality, Funchal (6.72€/m2) was the only municipality which stood above the value of the Region (5.99€/m2), followed by Santa Cruz (5.70€/m2), Câmara de Lobos (4.32€/m2), Ribeira Brava (4.28€/m2), Machico (3.95€/m2) and Calheta (2.49€/m2).

In a ranking by municipality, Funchal has the 17th highest rental value, behind Lisbon, Oporto and several municipalities of Área Metropolitana de Lisboa, Área Metropolitana do Porto and of the Region of Algarve. In the previous semester Funchal ranked 15th.

In the 4th quarter 2020, the median house rental value in the Autonomous Region of Madeira was 6.15€/m2, dropping by 1.1% year-on-year. In Funchal, that same variable stood at 6.82 €/ m2, decreasing by 3.5% over the year-ago quarter.

 

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