Construction work carried out by companies based in Madeira reached 1,073.8 million euros in 2024, an 18.7% increase compared to the previous year, according to data from the Regional Statistics Directorate (DREM). This indicates an expansionary cycle in the sector.
The growth was observed across companies of all sizes, but was most significant in businesses with fewer than 20 employees, which saw a 41.1% increase. Building works accounted for the largest share of the total value at 716.2 million euros, while civil engineering projects amounted to 357.5 million euros.
Concurrently, DREM data suggests a shift in the profile of newly licensed housing. The average number of dwellings per building has increased, and residential buildings with three or more units are now predominant. However, the number of completed and licensed dwellings decreased, as did the number of housing market transactions, although prices continue to rise.
