In 2024, the average home price in the region of Madeira, Portugal, is $588,000, at a price per square foot of $294. By comparison, the national average cost to buy a house in Portugal is $524,000, or $262 per square foot.
Real estate in Madeira is sought-after by foreign and local buyers alike, and prices have changed by 21% compared to the previous year. Homes located in the most popular towns in Portugal, frequented by tourists, tend to be more valuable, while living in remote or lesser-known locations is typically more affordable.
Here’s how Madeira property prices compare to other regions of Portugal:
Alentejo $312,000
Algarve $664,000
Metropolitan Lisbon $724,000
Center $286,000
North $430,000
Madeira $588,000
Azores $294,000
House prices in the cities and towns of Madeira, in US dollars
The most expensive town to buy a house in Madeira is Funchal, where a 2,000 square foot home costs on average $652,000. That’s a price per square foot of $326.
The most affordable place in Madeira to buy a house, of the locations analyzed, is Santana, where you can purchase a 2,000 square foot home for as little as $296,000, or $148 per square foot, on average.
Real estate prices in Madeira’s main cities and towns:
Calheta $604,000
Câmara de Lobos $458,000
Funchal $652,000
Machico $336,000
Porto Santo $460,000
Santa Cruz $398,000
Santana $296,000
Ready to make Portugal your home? Find out all about how to buy a house in Portugal as a foreigner.
Madeira Portugal property prices, in Euro
An average 200-square-meter house in Madeira sells for around €575,600, or €2,878 per square meter. Property prices in Madeira have changed by 21.% compared to last year.
Of the locations analyzed, the priciest properties in Madeira can be found in Funchal, going for €637,800, on average, or €3,189 per square meter.
On the other hand, the cheapest house prices in Madeira are in Santana, where an average-sized home goes for €290,600. That is based on an average of €1,453 per square meter.
See how much it costs to buy property in other locations in Madeira:
Calheta €592,000
Câmara de Lobos €448,000
Funchal €637,800
Machico €329,200
Porto Santo €450,800
Santa Cruz €388,600
Santana €290,600
Home prices vary depending on the condition of the property, the size of the home, and, of course, the location. For example, apartments and homes located in historic town centers tend to be more expensive than in other areas of the town, partly because of their proximity to amenities and partly because of their higher rental value. Moreover, properties in need of extensive renovation are typically priced much lower than those that are in move-in condition.
Methodology:
- When using or citing this data, please give credit with a link to My Dolce Casa
- Home price data source: Idealista.pt valid as of the date of this report
- Original prices published in euros per square meter
- Euros converted to U.S. dollars at an exchange rate valid as of the date of this report
- Square meters converted to square feet
- The average price of a 2,000 square foot home was calculated by multiplying the price per square foot in USD by 2,000
- The average price of a 200 square meter home was calculated by multiplying the price per square meter in Euro by 200
