In the 2^nd semester of 2024

Number of new lease contracts and the value per square metre in the Autonomous Region of Madeira grew year-on-year

According to information released today by Statistics Portugal (INE), during the 2^nd semester of 2024 (last 12 months), the median house rental value of the 1 349 new lease agreements in the Autonomous Region of Madeira was 9.60 euros/per square meter. This represents the highest value in the available data series, which began in the second semester of 2017. Compared to the previous semester, there was an increase in new agreements of 3.4% and an increase of +5.6% in the median house rental values. When compared to the 2^nd semester of 2023, there were corresponding changes of +7.0% and +15.2%, respectively.

Among the nine NUTS 2 regions, the Autonomous Region of Madeira ranked as the third region with the highest median house rental values (9.60 euros/per square meter), following Grande Lisboa (13.06 euros/per square meter) and Península de Setúbal (9.99 euros/per square meter). It should be noted that the national average was 7.97 euros/per square meter.

Considering the minimum threshold of 30 transactions established for dissemination purposes, data were only available for Funchal, its contiguous municipalities (Câmara de Lobos and Santa Cruz), Ribeira Brava, Machico and Calheta. During the reference period, Funchal accounted for 855 out of the 1 349 new lease agreements, followed by Santa Cruz with 218, Câmara de Lobos with 69, Machico with 48 and Calheta with 47.

Regarding the median house rental values among municipalities, Funchal (11.51 euros/per square meter) recorded the highest value, being the only one to surpass the value of the Region (9.60 euros/per square meter), followed by Santa Cruz (9.02 euros/per square meter), Câmara de Lobos (6.78 euros/per square meter), Machico (5.98 euros/per square meter) and Calheta (5.59 euros/per square meter).

When establishing a ranking by municipality in the country based on the highest rents, Funchal appears in 7^th place, in terms of highest rent, after Lisboa, Cascais, Oeiras, Porto, Amadora and Almada. In the previous semester, Funchal occupied the 8^th position.

Limiting the analysis to the fourth quarter of 2024, it is noted that the median house rental value in the ARM was 10.19 euros/per square meter, representing a 9.6% year-on-year increase and a 3.0% quarterly increase. In Funchal, the same value was approximately 11.42 euros/square meter, marking a 3.9% increase compared to the same quarter in 2023 while down 10.1% when compared to the previous quarter.

he previous year. 

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