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In the 3rd quarter 2021

Number of new lease agreements in the Autonomous Region of Madeira decreased year-on-year, while the house rental value by square meter increased

According to information released today by Statistics Portugal (INE), in the 3rd quarter of 2021, the median house rental value of the 306 new lease agreements of dwellings in the Autonomous Region of Madeira was 6.28€/m2. Compared to the previous quarter, the agreements went down by 3.5% and the median house rental value dropped by 0.6%. By the same order, this represents a -16.2% and +2.1% growth when compared to the 3rd quarter 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 NUTS III regions, behind Área Metropolitana de Lisboa (9.04 €/m2), the Algarve (6.78€/m2) and Área Metropolitana do Porto (6.65 €/m2). It should be noted that the national average stood at 6.08€/m2.

In the period in reference, Funchal, one of the cities with 100,000 or more inhabitants in the country, concentrated 206 of the 306 new lease contracts, reflecting a quarterly drop of 5.9% and a year-on-year decline of 16.9%. The median house rental value of these 206 agreements was 7.14€/m2, increasing by 3.5% from the previous quarter and by 6.7% year-on-year.

In a ranking by the country´s municipality, Funchal remained in the 12th position according to the highest rental value, after Lisbon, Porto and several municipalities of Área Metropolitana de Lisboa, Área Metropolitana do Porto and of the Region of Algarve.

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