977 dwellings were sold in Madeira in the third quarter of this year, representing a quarterly increase of 16.9% and a year-on-year increase of 11.4%, the highest figure ever.

705 of the total (72.2%) were existing dwellings, and the remaining 272 (27.8%) were new dwellings. Compared to the previous quarter, both housing types increased, with sales of existing dwellings rising by 8.5% and new dwellings by 46.2%. The variations were +25.9% and -14.2% compared to last year’s quarter.

The value of dwellings sold stood at 232.8 million euros (23.2% more than in the previous quarter and 0.8% more than in the same quarter of the prior year).

For new dwellings, sales value reached 79.6 million euros (+56.6% and -18.7% compared to the previous and same quarters, respectively). The value of existing dwellings stood at 153.3 million euros (+11.0% and +34.2% compared to the previous and same quarters, in the same order).

Madeiran families bought 804 dwellings in the same period, 16.5% more than in the previous quarter and 12.6% more than in the same period last year. Transactions of this nature amounted to 198.9 million euros, +25.4% in the prior quarter and +13.2% in the 3rd quarter of 2023.

Looking at the first nine months of the year, there were 2,509 housing transactions worth 582.5 million euros. Compared to the same period in 2023, this translates into variations of -2.4% and -1.8%, in the same order.

In Portugal, 40,900 properties were sold in the third quarter of 2024.

By Lígia Neves, journalist for the Jornal da Madeira newspaper

Translated to English as a community outreach program from the Portuguese Beyond Borders Institute (PBBI) and the Modern and Classical Languages and Literatures Department (MCLL) as part of Bruma Publication and ADMA (Azores-Diaspora Media Alliance) at California State University, Fresno, PBBI thanks Luso Financial for sponsoring NOVIDADES.