Rental prices for homes in the Autonomous Region of Madeira saw a 12.3% increase in July compared to the same month last year, according to the Idealista price index.
The median cost to rent a home in the region reached 16.1 euros per square meter in July, a new historic high. In Funchal, rental prices rose by 13.8% during the same period, with the price per square meter settling at 17.3 euros. Santa Cruz recorded a median price of 12.2 euros/m2.
Idealista spokesperson Ruben Marques stated that Madeira continues on a consistent upward trend, with demand exceeding available supply. Nationally, housing rental prices increased by 0.9% over the past twelve months, reaching 17.7 euros/m2.
