In the 1^st quarter of 2023

Number and value of transacted dwellings in the Autonomous Region of Madeira decreased when compared year-on-year

In the 1^st quarter of 2023, 898 dwellings were traded in the Autonomous Region of Madeira (ARM), representing a quarterly increase of 7.2% and a year-on-year decrease of 12.3%.

Of the total number of dwellings sold in the reference quarter, 754 were existing dwellings (84.0% of the total), with the remaining 144 (16.0%) being new dwellings. Compared to the previous quarter, these two types of dwellings showed opposite trends, i.e. the number of existing dwellings increased by 8.8% and sales of new dwellings decreased by 0.7%. When compared with the same quarter of the previous year, there were, in the same order, changes of -9.0% and -26.2%.

The value of transacted dwellings in this quarter was 195.3 million euros, up by 8.2% over the previous quarter (180.5 million euros) and a 4.5% decline compared to the same quarter of the previous year (204.6 million euros). In new dwellings, the value of sales reached 47.0 million euros (-14.4% over the same quarter of the previous year), while that of existing dwellings stood at 148.3 million euros (-0.9%).

In the quarter under review, Madeiran households acquired 769 dwellings, by +9.1% and -10.9% over the previous quarter and over the same quarter, respectively. In terms of value, transactions of this nature amounted to 164.1 million euros, up by 7.0% over the previous quarter and down 6.0% over the 1^st quarter of 2022.

In Portugal, the number of transacted dwellings in the 1^st quarter reached 34.5 thousand, meaning a quarterly decrease of 10.5% and a year-on-year decrease of 20.8%. These transactions generated 6.9 billion euros, -6.9% than in the 4^th quarter of 2022 and -15.2% compared to the same period of the previous year.

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