For the year 2023

Regional Directorate of Statistics of Madeira (DREM) releases today, on its website, the publication of the Construction and Housing Statistics for the Autonomous Region of Madeira

The Regional Directorate of Statistics of Madeira (DREM) releases today, on its website, the publication of the Construction and Housing Statistics of the Autonomous Region of Madeira for the year 2023 and at the same time updates the Time Series of the System of Indicators of Urban Operations (SIUO), and Construction Enterprises Indicators.

Regarding the time series of Real Estate Operations, it is worth mentioning that during the validation process of the basic information collected by the Directorate-General of Justice Policy (DGPJ) from the services of the Institute of Registries and Notaries (IRN, I.P.), which included a comparison with other sources of information, gaps were identified due to the non-reporting of part of the information from property purchase and sale transactions and mortgage loans with voluntary mortgage deeds executed through authenticated private documents. DGPJ is conducting a detailed analysis of the missing situations in coordination with the aforementioned registration services and IRN, I.P., with the aim of regularising the situation as soon as possible. For this reason, Statistics Portugal (INE) suspended the release of information from the year 2021 onwards regarding property purchase and sale contracts, contracts for mortgage loans with voluntary mortgages, and mortgage credit granted by contracts for mortgage loans with voluntary mortgages. Data from previous years (namely, 2018, 2019, and 2020) are also being reevaluated to assess any potential impact of this situation on previously published information.

Urban Operations Information System (SIOU): Completed buildings increased in 2023, while licensed buildings remained stable

• According to the Estimates of Completed Buildings in Madeira in 2023, 472 buildings were completed - the highest number in the last 12 years - representing a 20.1% increase compared to the previous year. An estimated 925 dwellings were completed for the Region, showing a 13.6% rise compared to 2022 (814 dwellings).
• As for building permits, these amounted to 510 buildings, the same value as the previous year. A total of 1 311 dwellings were licensed, which is a 51.1% increase compared to 2022 (868 dwellings).

Annual Survey of Construction Enterprises: Value of construction enterprises' works grew by nearly 20% in 2022

• In 2022, the value of performed works carried out by construction enterprises headquartered in Madeira amounted to 769.8 million euros, showing a growth of 19.8% compared to 2021. Among enterprises with 20 or more employees (563.3 million euros), this increase was more pronounced (+21.1%) than in enterprises with fewer than 20 employees (206.5 million euros; +16.4%).
• Considering all enterprises regardless of their size, it was mainly the 24.4% increase in the value of performed works in Civil Engineering Projects (294.0 million euros) that drove overall growth, although the value of performed works on buildings (475.8 million euros) also increased by 17.2%.

Other Housing Market Data: Fewer dwellings transacted in 2023, but at higher prices

• In 2023, 3,299 dwellings were transacted, a 20.4% growth compared to 2022. The value of transacted dwellings in the reference year amounted to 747.5 million euros, an 11.2% decrease compared to the previous year.
• In the same year, the median bank appraisal value for dwellings in the Autonomous Region of Madeira was 1,658 euros/square meter - the highest in the series started in 2011, representing a 20.2% growth compared to 2022.
• In 2023, the median price of dwellings sold in the region was 1,889 euros/square meter, marking a 20.2% increase compared to the previous year.
• The median rent for the 1,261 new dwellings rental contracts concluded in 2023 in the region was 8.33 euros/square meter, higher than the previous year (7.35 euros/square meter).

Cement Sales: 2.7% increase in cement sales

• In 2023, estimates of cement sales in the Autonomous Region of Madeira reached 161,312 tonnes, a 2.7% increase compared to the previous year (157,145 tonnes).
• The value of cement sold in the reference year amounted to 20.1 million euros, registering a 13.9% increase compared to the previous year (17.6 million euros in 2022).

Survey on the Characterisation of Social Housing in the Autonomous Region of Madeira: 5,703 social housing dwellings existed in the Region in 2023

• In 2023, there were around 5.7 thousand social housing dwellings (up by 3.8% from 2015) distributed by 1.6 thousand buildings. The number of social housing units per 100 thousand inhabitants was 2,222 (2,159 units in 2015).
• Approximately 62.6% of the buildings had only one dwelling, resulting in an average of 3.6 dwellings per building.
• Social housing dwellings were almost exclusively occupied under rental or sub-rental agreements (98.5%), with the remaining 1.5% divided among other occupancy regimes (vacant, loaned, or illegally occupied).
• The social housing generated a revenue of around 4,450.3 thousand euros, which resulted from collected rents, as there were no sales of housing units. On the other hand, expenses amounted to 10,828.5 million euros (94.3% for conservation and rehabilitation works and 5.7% for fixed charges).
• The average monthly rent in social housing in 2023, regardless of the type of contract, was 77 euros, representing an increase of 15 euros (+24.2%) compared to 2015.
  
  

For more information, please click on:

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• Time series - Housing and Construction - 1971-2023
• Time series - Indicators of Construction Enterprises - 2022
• Time series  - System of Indicators of Urban Operations (SIUO) - 1995-2023

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