Price For a House Rises 21% Since Last Year
Housing costs in Madeira have shot up, with the average house price reaching €525,000 in October 2024. That’s a jump of 21% from last year’s average of €435,000, based on recent data from real estate platform Imovirtual.
São Vicente Sees Biggest Price Hikes
São Vicente saw the steepest rise among Madeira’s municipalities, with prices up 46% since last October - from €355,000 to €520,000. Ribeira Brava and Machico also saw significant increases, with prices climbing 24% and 22%, respectively. Not all areas saw rising prices, though. Porto Moniz and Santana saw a slight drop in prices compared to last year, standing out as the exceptions in a mostly upward trend.
Calheta and Ponta do Sol Are the Most Expensive
For those looking to buy in Madeira’s priciest spots, Calheta and Ponta do Sol lead the pack, with average prices reaching €900,000 and €785,000. These areas remain some of the most desirable - and expensive - on the island.
Source: Jornal da Madeira
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