Funchal Among Portugal’s Most Expensive Cities
According to Idealista.pt, housing prices in Madeira increased by 12.6% in 2024, with the median price per square meter reaching €3,251/m² in December 2024. In Funchal, prices climbed to €3,542/m² (11.1%), making it the third most expensive city in Portugal, behind Lisbon and Porto.
This rise mirrors a national trend, with housing prices growing basically almost across all regions and district capitals in Portugal. In Madeira, this reflects a combination of strong demand and limited housing availability.
House Prices for Purchase by District Capitals
Madeira’s Housing Market Sees One of the Highest Growth Rates
Among Portugal’s autonomous regions, Madeira recorded one of the largest increases in housing prices. While São Miguel in the Azores saw the highest regional growth at 17.6%, Madeira’s 12.6% rise was well above the national average of 10.4%. Compared to other parts of the country, Madeira ranks as the third most expensive region to live, only behind Lisbon and Faro.
House Prices for Purchase by Districts and Islands
Demand Drives Housing Prices in Funchal
Funchal continues to attract both local buyers and international investors, drawn by its combination of urban amenities and natural beauty. This interest has contributed to the increasing cost of housing in the city.
Source: Idealista.pt
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