In 2017

Purchase and sale contracts of real estate increased in the Autonomous Region of Madeira

In 2017, the number of contracts of real estate purchase and sale stood at 4,868, increasing by 23.0% compared to the previous year. The value of traded real estates amounted to 503.9 million euros – the highest value since 2009 – rising by 33.2% from 2016.

72.4% of the contracts relate to urban estates, 24.5% to rural estates and 3.1% to mixed estates. Urban estates concentrated 92.7% of the total amount of the traded real estates.

On its turn, the average value of the traded real estates increased from 95.6 thousand euros in 2016 to 103.5 thousand euros in 2017 (+8.3%). For urban estates, the average value was 132.4 thousand euros (+1.1% than in 2016), while for rural estates it stood at 10.8 thousand euros.

Compared to 2016, the number of contracts of loan agreements with conventional mortgage rose by 61.4% in 2017, with the value of these contracts amounting to 157.4 million euros. However, the mean value of mortgaged real estates dropped from 133.9 thousand euros in 2016 to 121.2 thousand euros in 2017.

In 2017, the mortgage credit granted to singular persons per inhabitant stood at 440 Euros, a 67.4% increase over the previous year. This was the highest value of the last six years, it is close to the 2011 ratio (444 euros), but it is still distant from the 1999-2010 (1 517 euros) average.

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