Geographer Gonçalo Antunes warned in Funchal that rising housing prices are a major contributor to the increased cost of living in Madeira. He advocated for increasing the supply of housing targeted at the middle class and for making currently vacant properties available on the market.
Antunes presented data showing a 165% increase in the median price per square meter in the region between 2016 and 2026, exceeding the national average. In Funchal, prices rose from 1,227 to 3,322 euros per square meter during the same period.
The expert cited factors such as reduced investment in public housing and affordable rentals, the liberalization of the rental market, urban tourism growth, the expansion of local accommodations, and real estate fund investments. However, he rejected placing sole blame on local accommodations, noting that issues arise from their excessive concentration in specific areas.
