Property: Median Value 2,040 Euros Per M2

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According to data released today by the National Statistics Institute (INE), in November 2024, the median value of bank appraisals on housing in Madeira stood at 2,040 euros per square metre, registering an increase of 1.5% compared to the previous month (i.e., 30 euros more) and an increase of 19.2% compared to the same month of the previous year (+328 euros).

In apartments, the median value of bank appraisals in the Region was 2,221 euros per square metre, reflecting a variation of +3.8% compared to October 2024 and +23.1% compared to the same month of the previous year. In houses, this indicator stood at 1,816 euros/m2, 1.9% lower than the previous month and +13.5% above that recorded in the same month last year.

At the municipal level, it should be noted that the median value of bank appraisals in Funchal, in November 2024, stood at 2,415 euros/m2, +0.8% compared to the previous month and +21.7% compared to November 2023.

In addition to Funchal, the municipalities of Câmara de Lobos and Santa Cruz exceeded the minimum number of observations recorded (33), whose bank appraisal values reached 1,946 euros/m2 and 1,875 euros/m2, respectively. Câmara de Lobos recorded an increase of 0.5% compared to the previous month and 24.4% compared to the same month of the previous year, while Santa Cruz recorded a monthly change of +1.1% and a year-on-year change of +17.9%.

Samantha Gannon

info at madeira-weekly.com