Porto Moniz recorded the biggest increase in the average price of houses for sale in April, but Calheta is the most expensive municipality

Porto Moniz was the municipality in Madeira that recorded the biggest increase in the average price of houses for sale, compared to April 2023, with values ​​rising from 155,000 euros to 287,500 euros.

At the opposite pole is Machico, which was the only municipality that recorded a decrease in the average prices of houses for sale (-1.67%, €300,000 to €295,000), while Santana (220,000 euros) stands out as the cheapest municipality to buy a house in March this year. The most expensive is Calheta (750,000 euros).

These are the conclusions of the Imovirtual study, which today released its barometer regarding the evolution of average announced rental and sales prices on Madeira Island, comparing April this year with the same period last year.

At a national level, in relation to the average value of properties for rent, this report shows that there was an increase in average income of +8%, making it €100 more expensive, when compared to the same period last year.

“Although we are seeing a slight stabilization of average values, in April there was an increase (+4%), compared to last month, now standing at €1,300”, he adds.

Now, focusing on Madeira Island, in April this year, renting a house costs, on average, 1,475 euros, a drop of 1.67% compared to last month. However, when compared to the same period in April 2023, when renting a house cost, on average, €950, there is a sharp increase of 55%.

Regarding the purchase of a house, this costs, on average, 460,000 euros, a value that increased compared to last month (+2.22%). However, when compared to the same period in April 2023, when buying a house cost, on average, €395,000, there is a sharp increase of 16.46%.