Israeli developer Yard Properties is preparing to invest seven million euros in Funchal through the creation of a second property project. According to Jornal Económico, ‘Ferreiros Residences’ is Yard Properties’ latest bet, with 14 one and two-bedroom apartments, construction areas between 70.90m² and 85.90 m² for T1 and 118.30m² and…
Posts published in “Property”
A house on Rua da Infância collapsed this morning, leaving the 11 Nepalese living in the house homeless. They have since been rehoused. Bruno Pereira, Vice-President of the Funchal City Council, told JM that four other neighbours are currently waiting for engineers to inspect their homes as a precautionary measure. …
The ‘Imovirtual’ portal states that in Madeira, house buyers are looking for properties costing, on average, around 245 thousand euros, while properties are being advertised, for approximately 385 thousand euros. In Porto Santo, people are looking for properties costing around 240 thousand euros while most properties being offered at the…
The investigation into the political management of the August fires continues tomorrow, in the Assembly of the Republic, with the hearing of the Minister of Internal Administration. The hearing of Margarida Blasco will take place at 09:00, within the scope of the Committee on Constitutional Affairs, Rights, Freedoms and Guarantees. …
The prices of houses for rent in the Autonomous Region of Madeira rose by 4.4% in September compared to the same month of the previous year. According to the idealista price index, renting a house in the region had a cost of 13.8 euros per square metre (euros/m2) at the…
Elected PS/Madeira MEP Sérgio Gonçalves recently met with representatives of Airbnb to articulate issues related to the tourism and local accommodation sector, with talks directly relating to the regulation of short-term rentals. This regulation, approved in the previous mandate, aims to strengthen the transparency of short-term rentals by introducing harmonised…
The Funchal City Council has rejected 187 requests for the use of properties as Local Accommodation this year. Local newspaper JM reported that João Rodrigues, councilor for Urbanism, confirmed that the municipality cancelled three existing licenses between January and August. Samantha Gannon info at madeira-weekly.com
Banks that adhere to the public guarantee on housing loans to young people will have a limit on the guaranteed amount they can lend, and may later request a reinforcement, according to the latest version of the ordinance to which Lusa had access. According to the latest version of the…
Landlords can increase the value of rents by up to 2.16% in 2025, according to August inflation figures confirmed today by the National Statistics Institute (INE). According to INE data, which confirms the values advanced in the flash estimate released on the 30th of August. In the last 12 months…
The Public Security Police (PSP) and two teams from the Volunteer Firefighters of Câmara de Lobos (BVCL) were activated on Sunday to search for a man who was reported missing in the Fajã das Galinhas area. According to media outlet, JM, he was one of the few individuals who insisted…
Ireneu Barreto, Representative of the Republic for the Region, says that we cannot ignore the tragedy of the fires that devastated the Region, saying that it is necessary to focus on prevention and that the debate has to be more technical than political. In his speech at the solemn session…
Data from the Idealista portal reveals that, in one year, house prices in Madeira have risen by 19%, and buying a house in the Region, at the moment, exceeds 3 thousand euros per square metre. In August 2023, buying a house in Madeira cost of 3,114 euros per square metre,…
The coordination of firefighting operations that ravaged Madeira for 13 days has intensified the tension between firefighters and the Civil Protection. In performance terms the centralised management deserved criticism on the ground, resurfacing old divergences such as the payment of support to volunteers or the cut in the allowances of…
The residents of Fajã das Galinhas understand the need to be permanently relocated for safety reasons, a decision taken after the fire in Madeira, but while some feel relieved, others regret leaving a life behind. José Paulo Rodrigues is one of the 40 people who are still housed at the…
Real Estate agents, Idealista, list of homes worth more than a million has attracted a lot of attention this summer. Although Lisbon and the Algarve are still the favourite for high priced real estate, one of the residences on the list is located in Funchal. In a statement a spokesperson…