House Prices In Madeira Increased By 17%, Study Finds
According to a recent study, purchasing a house in Madeira costs around €460,000 on average. This marks a 17% rise from the same time in the previous year (April 2023).
Real Estate Prices In Porto Moniz Almost Doubled
The study found out that Porto Moniz is the municipality with the most substantial surge in average house prices since April 2023, soaring by 85.48% from €155,000 to €287,500. Conversely, Machico saw a slight decrease in average house prices for sale, dipping by 1.67% from €300,000 to €295,000. Santana, at €220,000, emerges as the municipality with the lowest average price, while Calheta tops the list as the priciest at 750,000 euros.
Rental Prices At Historic Highs
In terms of rental rates, the average in Madeira stands at €1,475, marking a 1.67% decline from the previous month. However, compared to April 2023, when the average rental cost was €950, there's been a significant 55% surge.
Source: Diário de Notícias da Madeira
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