For the 2^nd quarter of 2022

DREM releases information on the median price of dwellings in the Autonomous Region of Madeira

Statistics Portugal (INE) released today the information for the 2^nd quarter of 2022 for the median price of housing sales in the Autonomous Region of Madeira.

This press release is divided into two sections, one with the analysis of the results for the quarter in reference, considering only the three months of the quarter, and the other with the information for the last twelve months.

It should also be recalled that this information is obtained from the administrative tax data on the Municipal Tax on Transmission of Property (IMT) and the Municipal Property Tax (IMI), which are provided monthly to INE by the Tax and Customs Authority (AT), on the basis of a cooperation protocol signed between these two entities.

House prices in the Autonomous Region of Madeira decreased in the last three months

In the 2^nd quarter of 2022 (last 3 months), the median price of dwelling sales in the Autonomous Region of Madeira was 1,534 euros/square meter, standing below the Algarve (2,358 euros/square meter) and Área Metropolitana de Lisboa (2,076 euros/square meter), but above the national value (1,494 euros/square meter).

While in the 1^st quarter of 2022 the year-on-year rate of change in the median value of dwelling sales per square meter had been +14.2%, in the 2^nd quarter of 2022, this growth decelerated to 5.8%. At the national level, there was an acceleration in the growth of dwelling prices, with the year-on-year rate of change rising from 17.2% in the 1^st quarter of 2022 to 17.8% in the 2^nd quarter of 2022. Compared with the previous quarter, the Autonomous Region of Madeira registered a decrease of 3.3%, and the Country, an increase of 2.8%.

Considering the municipalities with more than 100,000 inhabitants, Funchal recorded a median price (1,919 €/m²) higher than that of the country (1,494 €/m²), with a year-on-year growth (+19.0%) higher than the national price (+17.8%). Compared to the previous quarter, the change was negative, at -2.6%.

In the 2^nd quarter of 2022, the median value of dwellings transacted in the Autonomous Region of Madeira involving purchasers with tax residence abroad was 2,207 euros/square meter, while transactions made by purchasers with tax residence in the National Territory was 1,496 euros/square meter. The median price of dwellings purchased by households was 1,515 euros/square meter and 1,561 euros/square meter for purchasers belonging to other institutional sectors.

Median price of dwellings sales in the Autonomous Region of Madeira was 1,506 euros/square meter in the last 12 months

In the 2^nd quarter of 2022 (last 12 months), the median price of dwelling sales in the Autonomous Region of Madeira was 1,506 euros/square meter, representing a quarterly increase of 1.7% and a year-on-year increase of 12.1%. At a national level, the median price was lower, at 1,402 euros/square meter, with positive changes, by the same order, of 4.2% and 15.1%. It should be noted that the value for the Autonomous Region of Madeira was only lower than that of the Algarve (2,199 euros/square meter) and Área Metropolitana de Lisboa (1,956 euros/square meter). In the Autonomous Region of Madeira, the value of new dwellings (1,808 euros/square meter) continued to exceed the value of existing dwellings (1,442 euros/square meter), by 366 euros/square meter.

In this period, the median value of dwellings transacted in the Autonomous Region of Madeira acquired by buyers with tax residence abroad was 1,960 euros/square meter, higher than the transactions made by buyers with tax residence in National Territory, which stood at 1,477 euros/square meter. The median price of dwellings purchased by households was 1,508 euros/square meter and by purchasers belonging to other institutional sectors was 1,466 euros/square meter.

In the municipality of Funchal, the median price of dwelling sales, in the 2^nd quarter of 2022, stood at 1,919 euros/square meter (the same value as in the last 3 months), which means that this municipality was the only one in the Autonomous Region of Madeira to record a value above the regional average (more 413 euros/square meter). In the national ranking, Funchal occupied the 21^st place of municipalities with the highest median value. The list continues to be headed by Lisboa (3,704 euros/square meter), with the following positions being occupied by municipalities in the Área Metropolitana de Lisboa, Algarve and Porto. Of all the Portuguese cities with more than 100 thousand inhabitants (Lisboa, Porto, Funchal, Amadora, Coimbra, Vila Nova de Gaia and Braga), Funchal is the tenth highest, after Lisboa, Cascais, Oeiras, Porto, Odivelas, Almada, Loures, Matosinhos and Amadora.

In addition to Funchal, the municipalities of  Santa Cruz, Câmara de Lobos, Ponta do Sol, Porto Santo, Calheta, Machico e de São Vicente, although registering prices below the average for the Autonomous Region of Madeira, stood out, as they presented significant values above one thousand euros (1,412 euros/m², 1,270 euros/m², 1,229 euros/m², 1,211 euros/m², 1,171 euros/m², 1,167 euros/m², 1,171 euros/m² e 1,052 euros/m², respectively). The lowest value was observed in Santana (696 euros/square meter).

In the parishes of Funchal, São Martinho stands out, in the 2^nd quarter of 2022, with a value (2,325 euros/m²) well above the city average for all dwellings (1,920 euros/m²). This is followed by the aggregation of the central parishes (São Pedro, Santa Luzia and Sé), with 1,902 euros/m², and the parish of Santo António, with 1,687 euros/m².  The aggregation of São Roque, Monte and Imaculado Coração de Maria and the aggregation of Santa Maria Maior and São Gonçalo registered the lowest values (1,560 euros/m² and 1,540 euros/m², respectively). When compared with the 2^nd quarter of 2021, all the parishes or aggregations of parishes registered increased in terms of the median value of sales per square meter. Compared to the previous quarter, there were also increases in this indicator in all the parishes or aggregations.

In the parish of Caniço, the median price of dwellings, in the 2^nd quarter of 2022, rose to 1,451 euros/m², a value which exceeds that verified for the municipality of Santa Cruz as a whole (1,412 euros/m²), by 39 euros/square meter. It should be noted that in this parish this indicator grew in year-on-year terms (+13.7%) and in quarterly terms (+1.1%).

In the 2^nd quarter of 2022, in the Autonomous Region of Madeira, the median sales price of studios or one-bedroom dwellings was 1,606 euros/square meter, the highest when compared to the other types (two-bedroom dwellings, 1,540 euros/square meter; three-bedroom dwellings, 1,493 euros/square meter; four-bedroom dwellings or higher, 1,224 euros/square meter). In the city of Funchal, all the typologies under analysis presented considerably higher values than in the Region, with the studio and one-bedroom apartments registering the highest value (2,126 euros/square meter).

Back

• Prev
• Next