The president of JAD Madeira, Gonçalo Margarido, has highlighted the challenges young Madeirans face in buying or renting housing on the island, exacerbated by the gap between low incomes and high real estate prices.
Margarido pointed out that despite many students wishing to stay on the island after completing their studies, a lack of well-paid job opportunities and prohibitive housing costs force many to seek better living conditions abroad.
With the median bank valuation of housing reaching €2,598 per square meter and an average gross monthly salary of €1,543, purchasing a home becomes a distant goal. Even saving 30% of a net salary would require many years to afford an 80-100 square meter house, costing between €208,000 and €258,000.
Rental market prices are also deemed disproportionate, with a studio apartment (T0) in Funchal costing €900-€1,000 per month and a one-bedroom apartment (T1) ranging from €1,100-€1,300. This situation causes many young people to postpone independence and the establishment of an autonomous life project, remaining with their parents into their thirties.
JAD Madeira calls for more careful management of public resources and greater investment in regional development, questioning the priority given to projects like the new golf course and casino. The organization advocates for creating better job opportunities, higher salaries, and more favorable housing acquisition conditions, deeming the retention of young people essential for the island's economic sustainability and future development.
