In the 1st quarter of 2024
Value of transacted dwellings in the Autonomous Region of Madeira (ARM) increased compared to the previous quarter but decreased year-on-year
In the 1st quarter of 2024, a total of 696 dwellings were transacted in the Autonomous Region of Madeira (ARM), reflecting a quarterly decrease of 4.5% and a year-on-year drop of 22.5%.
Of the dwellings sold in the quarter, 528 were existing dwellings (75.9% of the total), while the remaining 168 (24.1%) were new dwellings. Compared to the previous quarter, these two types of dwellings showed opposite trends: sales of existing dwellings decreased by 12.3%, while sales of new dwellings increased by +32.3%. When compared to the same quarter in the previous year, the respective changes were -30.0% and +16.7%.
The value of transacted dwellings in this quarter amounted to 160.7 million euros, representing an increase of 4.3% compared to the preceding quarter (154.1 million euros) and a decrease of 17.7% compared to the same quarter in the previous year (195.3 million euros). For new dwellings, the sales value reached 54.0 million euros (+54.7% and +14.8% compared to the previous and same quarters, respectively), while for existing dwellings, it stood at 106.7 million euros (-10.5% and -28.1% compared to the previous and same quarters, respectively).
In the referenced quarter, Madeira households acquired 586 dwellings, marking decreases of 3.5% and 23.8% compared to the previous and same quarters, respectively. In terms of value, transactions of this nature amounted to 134.2 million euros, representing a +1.7% increase compared to the previous quarter and an -18.3% decrease compared to the first quarter of 2023.
Nationwide, a total of 33.1 thousand dwellings were transacted in the first quarter of 2024, indicating a quarterly decrease of 3.1% and a year-on-year decline of 4.1%. These transactions generated 6.7 billion euros, which is -6.2% compared to the fourth quarter of 2023 and -1.8% compared to the same period of the previous year.
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