28-09-2021 - In the 1st half of 2020, the number of new lease agreements and house rental value by square meter in the Autonomous Region of Madeira increased compared to the previous semesters and year-on-year

In the 1^st half of 2020

The number of new lease agreements and house rental value by square meter in the Autonomous Region of Madeira increased compared to the previous semester and year-on-year

According to information released today by Statistics Portugal (INE), in the 1^st half of 2021 (last 12 months), the median house rental value of the 1,337 new lease agreements of dwellings in the Autonomous Region of Madeira was 6.15€/m². Compared to the previous semester, the agreements rose by 3.9% and the median house rental value by 2.7%. By the same order, this represents a 17.9% and 2.8% growth when compared to the 1^st half of 2020.

Regarding house rental value by square meter, the Autonomous Region of Madeira was the fourth Region with the highest value among the 25 NUTS3 regions, behind the Metropolitan Area of Lisbon (8.68 €/m²), the Algarve (6.74€/m²) and the Metropolitan Area of Oporto (6,25 €/m²). The national average stood at 5.82€/m².

Given the minimum number of 30 transactions established for dissemination purposes, information is only available for the municipalities of Funchal, its contiguous municipalities (Câmara de Lobos and Santa Cruz) and Calheta. In the year of reference, Funchal concentrated 918 of the 1,337 lease agreements, followed by Santa Cruz with 181, Câmara de Lobos with 60 and Calheta with 45.

Looking at the median house rental value by municipality, Funchal (6.76€/m²) was the only municipality which stood above the value of the Region (6.15€/m²), followed by Santa Cruz (5.59€/m²), Câmara de Lobos (4.18€/m²) and Calheta (3.52€/m²).

In a ranking by municipality, Funchal has the 19^th highest rental value, behind Lisbon, Oporto and several municipalities of the Metropolitan Area of Lisbon, the Metropolitan Area of Oporto and of the Algarve region. In the previous semester, Funchal was in 17^th place.

In the 2^nd quarter of 2021, the median house rental value in the Autonomous Region of Madeira was 6.32€/m², corresponding to an increase of 11.3% year-on-year. In Funchal, that same variable stood at 6.90€/ m², increasing by 9.9% over the year-ago quarter.

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