In 2023

Transacted dwellings in the Autonomous Region of Madeira decreased by 11.2% over the previous year

In 2023, a total of 3,299 dwellings were transacted in the Autonomous Region of Madeira, which represents a decrease of 20.4% over the previous year.

Of the total number of dwellings sold, 2,582 were existing dwellings (78.3% of the total), while the remaining 717 (21.7%) were new dwellings. It is noteworthy that both segments showed negative changes compared to 2022: -23.5% for existing dwellings; -6.8% for new dwellings.

The value of the dwellings transacted in 2023 reached 747.5 million euros, representing an 11.2% decrease over the previous year. In new dwellings, the sales value exceeded 217.6 million euros, representing an increase of 6.1% when compared to 2022, while that of existing dwellings reached 529.9 million euros, showing a negative change of 16.7% from last year.

Across the country, 136.5 thousand dwellings were transacted in 2023, indicating a decrease of 18.7% over the previous year. These transactions generated a turnover of 28.0 billion euros, which is 11.9% lower than in 2022.

In 2023, dwelling transactions, whose buyers belonged to the institutional sector of households, accounted for 83.5% in number and 83.6% in value of the total transactions recorded in the Autonomous Region of Madeira, slightly higher than that recorded in 2022 (80.7% and 81,4%, respectively). This year, 2,754 transactions with a value of 624.6 million euros were registered in this sector, which represents a decrease of 17.6% and 8.9%, respectively, compared to 2022. At a national level, the purchase of dwellings by households accounted for 85.5% (number) and 83.9% (value) of the national total this year.

In 2023, the value of dwellings sales in the Autonomous Region of Madeira, whose buyer had the national territory as tax residence, reached 632.6 million euros (84.6% of the total), followed by the other countries, with 59.7 million euros (8.0% of the total), and the European Union, with 55.2 million euros (7.4% of the total). With regard to the number of transactions reviewed, 89.9% had a tax resident buyer in the national territory (2,965 transactions), 5.2% in the European Union (170) and 5.0% in other countries (164). During this period, the value of dwelling sales across the country involving buyers who had their tax residence in the national territory, rose to 24.4 million euros (87.3% of the total value), representing 126.1 thousand transactions (92.4%).

In the 4th quarter of 2023, there were 729 dwelling transactions, in the Autonomous Region of Madeira, which is down by 13.0% over the same quarter of the previous year and down by 16.9% over and in the previous quarter. In turn, the value of transacted dwellings stood at 154.1 million euros, decreasing by 14.6% over the same quarter of 2022 and by 27.4% over the previous quarter.

In the quarter under review, the residents in the Autonomous Region of Madeira acquired 607 dwellings, down by 15.0% and by 13.9% over the previous quarter and the same quarter, respectively. In terms of value, transactions of this nature amounted to 131.9 million euros, which declined by 14.0% compared to the 4th quarter of 2022 and by 25.0% over the previous three months.

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