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
The Regional Directorate of Statistics of Madeira (DREM) releases today, on its official statistics website, the publication of the Construction and Housing Statistics of the Autonomous Region of Madeira for the year 2020 and at the same time updates the Time Series (1995-2020) of the System of Indicators of Urban Operations (SIUO), Real Estate Operations and Construction Companies Indicators.
This edition includes a chapter dedicated to the behaviour of construction activity during the year when the Region was affected by the COVID-19 pandemic, based on the information available between March 2020 and February 2021. Despite the context, the construction sector in the Autonomous Region of Madeira (ARM) showed resilience, registering average building permits slightly above the average of the 12 months prior to the pandemic and showing numbers very close to the pre-pandemic period in the case of completed buildings. It can also be observed that the global value of transacted dwellings had a pronounced growth after the deceleration observed in the pre-pandemic period. The median bank appraisal value also increased during the pandemic. System of Indicators of Urban Operations (SIOU)
In 2020, the Autonomous Region of Madeira (ARM) housing stock was estimated at 93,445 classic residential buildings and 131,763 dwellings, representing growth rates of 0.18% (+166 buildings) and 0.26% (+339 dwellings), respectively, over the previous year.
The number of buildings completed in the Autonomous Region of Madeira stood at 280, up by 8.9% from the previous year. There were 506 completed dwellings for the Region, registering an increase of 32.1% compared to the previous year (383 in 2019).
Compared to 2019, the number of building permits increased by 17.1% (452 building permits in 2020) and the dwelling permits went up by 18.7% (679 in 2020).
Real Estate Operations
In 2020, the number of contracts of real estate purchase (4,558 properties) decreased by 12.6% vis-à-vis the previous year.
There was a 21.7% decrease in the number of contracts of loan agreements with a conventional mortgage. However, the mean value of mortgaged real estates increased from 125.2 thousand euros in 2019 to 190.9 thousand euros in 2020.
The mortgage credit granted to singular persons per inhabitant stood at 416 euros, down by 10.5% over the previous year.
In 2020, 10.8% of the real estate sales in the ARM were made to foreign residents, corresponding to 16.0% of the total sales value.
Sales of real estate to foreign residents increased by 3.8% in number and 7.2% in value, vis-à-vis 2019.
As in 2017 and 2018, residents in Germany (22.1% of the total value) were the top buyers of real estate in Madeira, followed by residents in the United Kingdom (20.8%) and in France (7.8%).
Sales of properties to foreign residents increased by 3.8% in number (494 properties in 2020) and by 7.2% in value (€70.9 million) compared to 2019.
The average value of real estate sold to foreign esidents in 2020 (EUR 143,557) was 47.2% higher than the average value of global transactions (EUR 97,506 in the same year).
Indicators of Construction Companies
In 2019, the value of performed works by construction companies with 20 and more employees headquartered in the Autonomous Region of Madeira (366.0 million euros) grew 17.5% compared to 2018, driven by the increase observed in the work performed on Buildings (+42.0%), since in Civil Engineering Works there was a slight decrease of 1.7%.
The increase in works in buildings took place in both residential buildings (+78.1%, corresponding to +31.3 million euros) and non-residential buildings (+27.1%, corresponding to +26.4 million euros).
Other data on the Housing Market
In 2020, the number of family housing units sold was slightly lower than in the previous year (-3 than in 2019, corresponding to -0.1%), making a total of 3,168 transactions. The value of the dwellings sold in the year of reference amounted to EUR 470.3 million, +11.6% than in the previous year. In 2020, the median price of dwelling sales in the Autonomous Region of Madeira was 1,322 euros per square meter, an increase of 10.5% over the previous year.
In the same year, the median value of bank evaluation of living quarters increased by 5.3% (1,154 euros per square meter) over 2019.
In the year 2020, the median house rental value of the 1,287 new lease agreements of dwellings registered in the Autonomous Region of Madeira was 5.99 euros per square meter.
Cement Sales
In 2020, the estimates of cement sales in the Autonomous Region of Madeira stood at 119, 910 tonnes, down by 7.7% over the previous year (129,899 tonnes).
In the reference year, the value of cement sold stood at 13.1 million euros, registering a decrease of 13.3% compared to the previous year (15.1 million euros in 2019).