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ERA-Estate Agents Revenue Increases By 49%

ERA Imobiliária has has recorded a 49% increase in its Network’s turnover in the Autonomous Region of Madeira, having sold 24% more properties in the first half of the year, compared to the same period in 2021.

The positive performance recorded by the four agencies present on the island of Madeira, opens the prospect of 2022 becoming “the best year ever for ERA Imobiliária in the Region.”

Present in Madeira since 2017, ERA Imobiliária has registered a “very positive performance in 2022 with regard to the number of purchasing customers, invoicing and transactions.  For the first six months of 2022, the average of buyers per month at ERA branches in Madeira rose by 11% compared to the same period in 2021, while the total number of transactions rose 33% in the 1st half of 2022, compared to the same period in 2021.

In the previous year, ERA had already registered a significant increase of 33% in the total number of transactions, as well as a 34% increase in the Network’s turnover, with the sale of 21% more of properties, compared to the same period in 2020.

The data revealed by ERA Imobiliária “confirm that Madeira, similarly to what has also been seen in the Azores, has proved to be an emerging market in the real estate sector, not only for the national market – consisting mainly of residents of Madeira, which mostly acquire real estate for their own permanent housing -, but also with clients of foreign nationality, namely English, French, German, Polish and Austrian, in an investment perspective. There is also a growing number of foreigners who choose the region to work remotely (digital nomads).”

“Safety, quality of life, favourable climate, reinforcement of air connections, investment by the Regional Government abroad to promote the destination, the Golden Visa and the promotion of new ventures with the Obra Nova ERA project, are factors that explain, in the view of franchisees of ERA Agencies, the attractiveness that the real estate market in Madeira is undergoing.

On average, house prices increased by 2.9% in July.

Samantha Gannon

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