Half the houses cost more than half a million

“Albuquerque risks everything”

The price of houses makes headlines everywhere

Following up on a post here only yesterday reporting that 4% of houses for sale in Madeira cost less than €150,000, the Diario reports from the other end of the market identifying that there are currently a total of 4,715 houses for sale in Madeira on ‘Idealista’. The most expensive house is being sold for 9 million. Interest rates absorb 60% of the payment to the bank. This is the news that makes the headlines this Tuesday, February 20th.

“Albuquerque risks everything”

Half the houses cost more than half a million 1

The graphical highlight on the first page goes to the same subject already featured here this morning; “Albuquerque risks everything”. The newspaper reports, with a lot of cliches this morning, that it’s ‘make or break’ time in a bold move from the PSD-M leader who has scheduled direct elections for March 21st and will again be a candidate, still without knowing Marcelo’s decision on the future of Government in Madeira.

The Social democratic leader accuses the opposing Socialists of making “anonymous complaints” in court that he says are “false”. Regional Congress will be on the 20th and 21st of April. Miguel de Sousa, Vice-President of the Regional Assembly, says that the calendar prevents other applications.

11 thoughts on “Half the houses cost more than half a million”

  1. The 4715 Idealista houses, what sort of price are these?

    “The most expensive house is being sold for 9 million. Interest rates absorb 60% of the payment to the bank. ”

    It’s early in the morning and I can’t see what has the interest rate to the bank to do with the sale price of the house.’

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    • George, I always follow you comments with interest, but regularly find myself wondering why you adopt such an antagonistic and critical approach to the content.

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      • Carlos, I’m sorry if you find my comments antagonistic, but as for critical I’m really questioning, I’m interested as to why people think as they do. I don’t have a problem with people being critical or disagreeing with my comments. Much rather that than the silence when I ask a question. There has been many comments on the subject of the Digital Nomads pushing up rental prices. My thoughts are what are the number of these nomads against the total number of housing stock? Surely that’s not the reason. On the same subject, it’s greedy owners. Would any of the writers turn down a maximum rent? Is it a crime to own and let out a property? Then others who criticise and denigrate Madeira and the people they have chosen to live amongst. That would prefer to have Madeira back in the 70s without a thought as to what it was like for locals living here then. There is a regular number of writers who never write a good comment about the island and it’s people yet when I ask the question, is there anything you like about Madeira, silence.

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      • Personally I would scrap the golden visa and introduce a visa that states you have to open a business and employ Madeiran people. It would help tip the scales the other way a little bit.

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  2. Thanks for the explanation. I agree with your maths, I just never put the two together. When I’ve bought a house, I have a figure I can afford which I’ve which automatically built in the mortgage. And that’s as clear as mud.

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  3. Well this is quite interesting in recent newspaper was a article advising the best places to the local people buy outside of Lisbon and they said Sintra surrounding small hamlets and villages but what they did forget to say was that the market in that areas there isn’t anything available and it is complete out of price range for the local people that cant afford buy them and neither to rent . And the same seems to be happening in Madeira where one time the houses were very affordably and people could buy them and rent but not anymore complete out of the market .

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  4. Boom and bust, no lessons learned from 2007 crash, here we go again, it is inevitable that a crash will happen leaving most with negative equity, when property price rises outstrip wage increases alongside the general cost of living skyrocketing madness and jobs becoming automated with no need for humans what can possibly go wrong, I feel sorry for the young who cannot afford to either buy or rent, but hey ho the banks and developers are getting richer and richer until there is a crash when they will receive a juicy to big to fail bailout from taxpayers and then begin the cycle once again, our politicians can only think of their term in office and nothing is planned long term, burying heads in the quicksand, it is plain to see by the rank and file public what needs to be done ( for example a housing crises in Lisbon and the country, yet hundreds of thousands of properties sit empty, everywhere you look you see empty or ruin properties, not a housing crises but a management crises, if these properties were to become occupied then properties would become cheaper due to increases in the supply chain and the bankers would not want that) politicians only think of their party and power and personal wealth not of the country, as a once famous UK socialist politician once said , keep the people poor and scared to be able to control them

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