Housing Prices in Madeira Reach a New Record, Driven by Apartments
The median bank appraisal value of housing in the Autonomous Region of Madeira (RAM) rose to €2,234 per square meter in July 2025, according to data released by the National Statistics Institute (INE). This represents an increase of 2.4% compared with June (+€52) and a year-on-year rise of 15.9% (+€306). The figure reached a new record high.
Price For Apartments Increases 24.7%
Apartments reached a median value of €2,480 per square meter, up 2.1% from June and 24.7% above July 2024. For houses, the value stood at €1,856 per square meter, a slight decrease of 0.2% compared to the previous month but still 2.9% higher year-on-year.
Municipal Data Shows Funchal on Top, While Câmara de Lobos Increases 22.6%
Funchal recorded the highest municipal value in July, with €2,561 per square meter, showing a monthly increase of 2.4% and a 15.8% rise compared with the same month last year.
Câmara de Lobos reached €2,268 per square meter. Despite a 3.4% monthly decrease, this represented a 22.6% increase compared with July 2024. Santa Cruz showed €2,186 per square meter, with monthly and annual increases of 2.6% and 20.0%, respectively.
Apart from Funchal, and in the reference month, the municipalities of Câmara de Lobos and Santa Cruz also exceeded the minimum number of recorded observations (33), with bank appraisal values reaching €2,268/m² and €2,186/m², respectively. Câmara de Lobos recorded a 3.4% decrease compared with the previous month and a 22.6% increase year-on-year, while Santa Cruz registered a monthly variation of +2.6% and a year-on-year increase of +20.0%.
Madeira Among Portugal’s Most Expensive Regions, Following Lisbon and Algarve
Nationally, the median bank appraisal value of housing stood at €1,945 per square meter in July, an increase of €34 (1.8%) from the previous month. The year-on-year change was 18.7% (+€307).
Among Portugal’s nine NUTS II regions, Greater Lisbon recorded the highest value at €2,956 per square meter, followed by the Algarve (€2,616) and the Setúbal Peninsula (€2,310). Madeira placed fourth. Setúbal registered the largest annual growth (+24.2%), while the Center region recorded the lowest (+12.5%). Month-on-month, the Alentejo led with a 4.2% increase, while the Center posted the smallest rise (+0.5%).
Number of Bank Appraisals Rises From June but Remains Below Last Year’s Level
In Madeira, 668 bank appraisals were carried out in July 2025. This represents 3.7% fewer than in the same month of 2024 but 8.1% more than in June, with 50 additional appraisals. Of the total, 322 were for apartments and 346 for houses.
At the national level, the number of appraisals increased by 3.7% year-on-year and by 3.8% compared with the previous month.
An INE statement underlined that these results “confirm the continued rise of housing appraisal values, with regional variations remaining significant.”
Source: DREM
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