Buying a home in Madeira is again more expensive. The average price per square meter is 2,560 euros

Home prices in Madeira increased by 4.2% in the second quarter of the year compared to the previous quarter. This is revealed by the Ideal Price Index, which has made the most progress that buying a house in the area had a cost of €2,560 per square meter (€/m2) at the end of June, taking into account the average value. In terms of the monthly change, the increase was 1.2% and the year-over-year increase was 19.8%.

Looking at the different municipalities, prices increased in São Vicente (24.6%), Santana (17.3%), Ribera Brava (9%), Calheta (8.4%), Ponta do Sol (4.7%), Camara de Lobos (3.7%) and Funchal (3.6%). In Santa Cruz (0.4%) and Mashiko (0.4%) prices remained stable over the period.

The most expensive municipality to buy a house is in Funchal (2,943€/m2), followed by Calheta (2,724€/m2), Ribera Brava (2,330€/m2), Ponta do Sol (2,103€/m2), Camara de Lobos (2,073 €/m2) and Santa Cruz (1,761 €/m2). On the other hand, the cheapest ones are Machico (1436€/m2), Santana (1447€/m2) and São Vicente (1593€/m2).

Following the trend in the region, homes in Porto Santo rose by 3.8% over the same period analyzed, with the price per square meter set at 1927 €/m2.

On a national level, the housing price increased by 2.2% in the second quarter to stand at 2,536 EUR/m2.

In the second quarter, house prices rose in 12 provincial capitals, with Viana do Castelo (17.2%), Vila Real (12.1%) and Faro (11%) topping the list. Followed by Evora (9.7%), Coimbra (6%), Funchal (3.6%), Lisbon (3.1%), Portalegre (2.9%), Setubal (2.7%), Porto (2.4%), Viseu (1.2%), Aveiro (0.9%).

On the other hand, prices decreased in Guarda (-7.4%), Ponta Delgada (-2.4%), Castelo Branco (-2.2%), Santarem (-1.7%), Braganca (-1.3%), Beja (-1.2%). and Leiria (-0.9%) and Braga (-0.8%).

Lisbon remains the most expensive city to buy a home: €5,351 per square meter (€/sqm). Porto (3413€/m2) and Funchal (2943€/m2) rank second and third, respectively. Here are Faro (2,921 €/m2), Aveiro (2,501 €/m2), Setubal (2,307 €/m2), Évora (2,211 €/m2), Viana do Castelo (1, 850€/m2), Coimbra (1,843€/m2), Ponta Delgada (1,718€/m2), Braga (1,702€/m2), Vila Real (1336€/m2), Viseu (1334 € / m2) and Liria (1309 € / m2). The cheapest cities are Portalegre (717 €/m2), Guarda (731 €/m2), Castelo Branco (826 €/m2), Braganca (867 €/m2), Beja (934 €/m2), Santarem (1098 € / m2). m 2).

Regions

The largest price increases occurred in Castelo Branco (12.9%), Beja (10%), Viana do Castelo (9.9%), Coimbra (8.3%) and Viseu (6.3%).

Followed by Vila Real (5.1%), Madeira Island (4.2%), Porto (4.2%), Porto Santo Island (3.8%), Faial Island (3.6%), Terceira Island (3.5%), Setubal (3%), Portalegre (3%), Leiria (2.8%), Faro (2.3%), Braganca (1.5%), Lisbon (1.2%), Pico Island (1.2%), Santarem (1.1%) and Aveiro (0.9%). In Braga (0.1%) and on São Miguel Island (-0.2%) prices were stable in this period.

On the other hand, prices decreased in Évora (-23.7%), São Jorge Island (-6.4%) and Guarda (-2.4%).

It should be noted that the ranking of the most expensive regions for buying a home is led by Lisbon (3881 € / m2), followed by Faro (3174 € / m2), Madeira Island (2570 € / m2), Porto (2503 €). / m2), Setubal (2399 € / m2), Porto Santo Island (1927 € / m2), Aveiro (1673 € / m2), Braga (1529 € / m2), Leiria (1515 € / m2 ), São Miguel Island (1,509 €/m2), Viana do Castelo (1,465 €/m2), Évora (1,442 €/m2), Coimbra (1,433 €/m2), Pico Island (1,296 €/m2), Faial Island (1,262 €/m2), São Jorge Island (1119 €/m2) and Terceira Island (1,109 €/m2).

The cheapest ones are in Guarda (654€/m2), Portalegre (663€/m2), Castelo Branco (858€/m2), Braganca (876€/m2), Vila Real (975€/m2) , Viseu (998 € / m2), Beja (1044 € / m2), Santarem (1068 € / m2).

Regions

During the second quarter of 2023, housing prices increased in all regions of the country except in the Autonomous Region of the Azores (-1.2%) and the Alentejo (-0.5%), where prices fell. These heights are led by the autonomous community of Madeira (4.2%), followed by the Center (3.6%), the North (3.1%) and the Algarve (2.3%). It was the Lisbon metropolitan area (1.2%) where prices rose the least during this period.

The Lisbon metropolitan area, with an area of ​​€3,507/m², remains the most expensive area for home buying, followed by the Algarve (€3,174/m²), the autonomous community of Madeira (€2,560/m²) and the North (€2,119/m²). ). ). On the other side of the scale are the Autonomous Region of the Azores (1,358 €/m2), the Center (1,403 €/m2) and the Alentejo (1,523 €/m2) which are the cheapest regions to buy a house.