House prices up 2.4% in November

Annual increase now 21.8%

Funchal, where house prices keep rising

House prices in the Region rose 2.4% in November compared to the previous month. According to the Idealista price index, and taking into account the median value, buying a house in Madeira would cost 2,836 euros per square metre (euros/m2).

In relation to the quarterly variation, the increase was 8.4% and the annual increase was 21.8%.

House prices rose in Santana (4.1%), Machico (3.9%), Funchal (1.7%), Câmara de Lobos (1.2%) and Calheta (1%). On the other hand, prices fell by 0.5% in Santa Cruz. The most expensive municipality to buy a house is Funchal (3,158 euros/m2), followed by Calheta (2,966 euros/m2), Ribeira Brava (2,479 euros/m2), Câmara de Lobos (2,263 euros/m2) and Santa Cruz (1,936 euros/m2). On the other hand, the most economical ones are in Santana (1,476 euros/m2) and Machico (1,621 euros/m2).

House prices in Porto Santo rose 5.9% during the same period analyzed, setting the price per square meter at 2,165 euros/m2.

The ranking of the most expensive districts for house prices is led by Lisbon (3,861 euros/m2), followed by Faro (3,215 euros/m2), Madeira Island (2,848 euros/m2), Porto (2,487 euros/m2).

Lisbon continues to be the city where it is most expensive to buy a house: 5,426 euros/m2. Porto (3,424 euros/m2) and Funchal (3,158 euros/m2) occupy second and third place, respectively.

House prices up 2.4% in November 1

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