Reasonably Priced Houses Becoming Rarer and Rarer

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The ‘Imovirtual’ portal states that in Madeira, house buyers are looking for properties costing, on average, around 245 thousand euros, while properties are being advertised, for approximately 385 thousand euros. In Porto Santo, people are looking for properties costing around 240 thousand euros while most properties being offered at the 380 thousand euros mark.

These values appear in the new study published by the Imovirtual real estate portal, which analysed the difference between the average advertised sale price of houses and the average values people searched for. Thus, in Madeira, the value is 57% above the value sought, while in Porto Santo, it is 58% above.

At the national level, the advertised value of houses for sale is 22 percent higher than the value sought.

Samantha Gannon

info at madeira-weekly.com