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In the first quarter of 2022

Number of new lease agreements and the house rental value per square meter in the Autonomous Region of Madeira increased when compared to the previous quarter and year-on-year

According to information released today by Statistics Portugal (INE), in the first quarter of 2022, the median house rental value of the 360 new lease agreements of dwellings in the Autonomous Region of Madeira was 6.98€/square meter. Compared to the previous quarter, the agreements went up by 25.9% and the median house rental value rose by 4.2%. By the same order, this represents a +16.9% and +18.3% growth when compared to the first quarter of 2021.

Regarding house rental value by square meter, the Autonomous Region of Madeira was the third region with the highest value among the 25 NUTS III regions (6.98€/square meter), behind Área Metropolitana de Lisboa (9.10 €/square meter) and Algarve (7.12€/square meter). It should be noted that the national average stood at 6.16€/ square meter.

In the period in reference, Funchal, one of the cities with 100,000 or more inhabitants in the country, concentrated 250 of the 360 new lease contracts, reflecting a quarterly growth of 33.7% and a year-on-year of 23.2%. The median house rental value of these 250 agreements was 7.83€/square meter, decreasing by 1.1% from the previous quarter and increasing by 17.2% year-on-year.

In a ranking by the country´s municipality, Funchal occupied the 10th position according to the highest rental value, after Lisbon, Porto and several municipalities of Área Metropolitana de Lisboa, Área Metropolitana do Porto.

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