Back to NewsRental Prices in Madeira Rise by 2.2% in December
Madeira GuideIn December, rental prices for houses in Madeira increased by 2.2% compared to the same month last year, driven by a rise in Funchal.
The cost of renting a house in the Autonomous Region of Madeira experienced a notable increase of 2.2% in December compared to the same period last year. According to the Idealista price index, the median price for renting a house in the region stood at 15.5 euros per square meter at the end of the year, marking a quarterly increase of 4.1%.
Funchal, the capital of Madeira, saw a more significant rise, with rental prices climbing by 6% during the same period. The price per square meter in Funchal reached 16.2 euros, reflecting a quarterly increase of 5.6%. This rise in rental costs is particularly relevant for both residents and tourists, as Funchal is a central hub for tourism and local living.
The increase in rental prices in Madeira is part of a broader national trend, where rental costs have been steadily rising. However, the rise in Funchal is notably higher than the national average, highlighting the growing demand for housing in this popular tourist destination.
Madeira's unique charm, characterized by its stunning landscapes, mild climate, and rich cultural heritage, continues to attract both domestic and international visitors, thereby driving up demand for accommodation. This trend is expected to continue as Madeira enhances its appeal as a desirable place to live and visit.
Understanding these dynamics is crucial for potential renters and investors, as the rising rental costs could influence decisions regarding property investments and relocations to the island.
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Madeira Guide
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