Traded real estate went up in number and value while the acquisitions made by non-residents dropped in number but increased in value

The Regional Directorate of Statistics of Madeira (DREM) releases today a more thorough analysis (“Press release” and “in Focus”) of the time series “Operations on Real Estate 1971-2019” and “Acquisitions of Real Estate by Non-Residents 2012-2019” recently updated and made available on its website.

In 2019, the number of contracts of real estate purchase and sale increased by 4.4% vis-à-vis the previous year and the amount involved in these transactions stood at 476.1 million euros (+1.7% compared to 2018). The average value of the traded real estates declined from 93.7 thousand euros in 2018 to 91.3 thousand euros in 2019.

It should be highlighted that the number contracts of real estate purchase and sale is the highest of the last eleven years, and in value is the second highest in that period of time, after 2017.

There was a 6.1% decrease in the number of contracts of loan agreements with conventional mortgage, and the mean value of mortgaged real estate went down from 133.2 thousand euros in 2018 to 125.2 thousand euros in 2019.

The mortgage credit granted to singular persons per inhabitant stood at 465 euros, down by 7.6% over the previous year.

Sales of real estate to non-residents in the country decreased by 1.4% in number and increased by 6.1% in value, vis-à-vis 2018. In 2019, 9.1% of the real estate sales in the Autonomous Region of Madeira were made to non-residents, corresponding to 13.9% of the total sales value.

In 2019 residents in United Kingdom (20.0% of the total value), followed by residents in the Germany (19.2%) and in France (11.3%), were the main buyers of real estate in Madeira.

The average value of real estate sold to non-residents in 2019 (EUR 139,021) was almost 52.3% higher than the average value of global transactions (EUR 91,304 in the same year).

For more information, please click on:

• In Focus (Portuguese only)
• Time series

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