Regional Directorate of Statistics of Madeira (DREM) releases today, on its website, the Construction and Housing Statistics of 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 2021 and at the same time updates the Time Series of the System of Indicators of Urban Operations (SIUO), Real Estate Operations and Construction Enterprises Indicators.
Regarding the Real Estate Operations, it should be noted that during the process of validation, the comparison of the information collected by the DGPJ from the IRN, I.P. for the year 2021, with other sources showed gaps, resulting from the failure to report part of the information arising from acts of purchase and sale of real estate and loan with voluntary mortgage carried out through a certified private document. DGPJ is carrying out a detailed analysis of the missing data with the IRN, I.P., to correct the situation as soon as possible.
For this reason, Statistics Portugal suspended the release of information for the year 2021, on contracts for the purchase and sale of real estate, loan agreements with voluntary mortgage and mortgage credit granted by loan agreements with voluntary mortgage, until further notice. Data from previous years (namely 2018, 2019 and 2020) are also being revised, to assess the possible impacts of this situation on previously released information.
System of Indicators of Urban Operations (SIUO)
In 2021, the Autonomous Region of Madeira (ARM) housing stock was estimated at 93,616 classic residential buildings and 132,108 dwellings, representing growth rates of 0.20% (+184 buildings) and 0.26% (+344 dwellings), respectively, over the previous year.
The number of buildings completed in the Autonomous Region of Madeira stood at 301, the highest number in the last eight years, up by 15.2% from the previous year. There were 430 completed dwellings for the Region, registering a decrease of 20.2% compared to the previous year (539 in 2020).
Compared to 2020, the number of building permits increased by 1.5% (468 building permits in 2021, the highest number in the last ten years) and the dwelling permits went up by 44.6% (998 in 2021 against 690 in 2020).
Annual Survey on Construction Enterprises
In 2020, the value of performed works by construction enterprises with 20 and more employees headquartered in the Autonomous Region of Madeira (358.5 million euros) decreased by 2.1% compared to 2019, driven by the decline observed in the work performed on “Buildings” (-12.4%), whereas in “Civil Engineering Works” there was an increase of 9.8%.
Other data on the Housing Market
In 2021, 3,571 dwellings were traded, which represents a new maximum in the available series and a growth of 32.0% compared to 2020. The value of the dwellings sold in the year of reference amounted to 611.4 million euros, +49.0% than in the previous year.
In 2021, the median price of dwelling sales in the Autonomous Region of Madeira was 1,436 euros per square meter, an increase of 10.2% over the previous year.
In the same year, the median value of bank appraisals on housing increased by 6.8% (1,233 euros per square meter, a time series high since 2011) over 2020.
In the year 2021, the median house rental value of the 1,221 new lease agreements of dwellings registered in the Autonomous Region of Madeira was 6.33 euros per square meter, higher than the previous year (5.99 euros per square meter.).
Cement Sales
In 2021, the estimates of cement sales in the Autonomous Region of Madeira stood at 154,809 tonnes, the highest value of the last ten years, up by 29.1% over the previous year (119,910 tonnes).
In the reference year, the value of cement sold stood at 17.5 million euros, registering an increase of 33.5% compared to the previous year (13.1 million euros in 2020).