The Regional Directorate of Statistics of Madeira (DREM) releases today, on its official statistics website, the Construction and Housing Statistics of the Autonomous Region of Madeira for the year 2017 while at the same time updates the Time Series (1995-2017) for this statistical area (System of Indicators of Urban Operations (SIUO).
In this publication it was included information previously released on DREM’s website, such as the dwelling sales and its median price, the median house rental value, the average value of bank appraisals on housing and the cement sales.
System of Indicators of Urban Operations (SIOU)
In 2017, the Autonomous Region of Madeira (ARM) housing stock was estimated at 93,086 classic residential buildings and 131,011 dwellings, representing annual growth rates of 0.13% and 0.15%, respectively, over the previous year.
The number of works completed in the ARM stood at 251 buildings, up by 19.0% from the previous year. The number of dwellings completed also increased from 153 to 201 (+31.4%) between 2016 and 2017.
Compared to 2016, the number of building permits decreased by 4.0% (242 building permits in 2017) and the dwelling permits rose by 49.5% (447 in 2017).
Real Estate Operations
The number of contracts of real estate purchase and sale increased by 23.0% vis-à-vis the previous year and the amount involved in these transactions stood at 503.9 million euros (+33.2% compared to 2016). The average value of the traded real estates increased from 95.6 thousand euros in 2016 to 103.5 thousand euros in 2017.
There was also a 61.4% rise in the number of contracts of loan agreements with conventional mortgage, and the mean value of mortgaged real estates decreased from 133.9 thousand euros in 2016 to 121.2 thousand euros in 2017.
In 2017, the mortgage credit granted to singular persons per inhabitant stood at 440 euros, up by 67.3% over the previous year.
Indicators of Construction Enterprises
In 2016, the value of performed works by construction enterprises with 20 and more employees headquartered in the Autonomous Region of Madeira declined by 10.7% compared to 2015, mainly due to the 22.8% decrease in civil engineering works.
The performed works in buildings registered a 39.9% increase, compared to 2015. This rise affected both residential buildings (20.2%, corresponding to +2.7 million euros) and non-residential buildings (47.2%, corresponding to +16.7 million euros).
Other data on the Housing Market
The figures show an increase in the number and value of transacted dwellings in the Autonomous Region of Madeira between 2016 and 2017. In this year, there was a total of 2,796 transacted dwellings (up by 24.4%), which generated a sales value of 341.8 million euros (+23.9%).
In 2017, the median price of dwelling sales in the Autonomous Region of Madeira was 1 126 euros per square meter, increasing by 10.0% from 2016.
In 2017, the average value of bank evaluation of living quarters increased by 5.1% (1 253 euros/m2) over 2016, following the upward trend of the previous year.
In the year 2017, the median house rental value of the 1,091 new lease agreements of dwellings registered in the Autonomous Region of Madeira was 5.15€/m2.
Cement Sales
In 2017, the estimates of cement sales in the Autonomous Region of Madeira stood at 109,402 tonnes, up by 11.6% over the previous year (98,071).