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Funchal · report

New homes in Funchal

18.1% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
365
Per 1,000 residents
3.2

Homes licensed for construction in Funchal

Dwellings in new buildings licensed over the previous 12 months, at each month.

  • Funchal
  • Ten-year average
Show the numbers
PeriodFunchal
Aug 2026365
Jul 2026350
Jun 2026327
May 2026347
Apr 2026319
Mar 2026255
Feb 2026406
Jan 2026368
Dec 2025349
Nov 2025350
Oct 2025407
Sep 2025418
Aug 2025626
Jul 2025632
Jun 2025661
May 2025637
Apr 2025589
Mar 2025631
Feb 2025479
Jan 2025495
Dec 2024505
Nov 2024503
Oct 2024437
Sep 2024470
Aug 2024270
Jul 2024331
Jun 2024309
May 2024354
Apr 2024471
Mar 2024444
Feb 2024492
Jan 2024514
Dec 2023513
Nov 2023548
Oct 2023550
Sep 2023515
Aug 2023505
Jul 2023455
Jun 2023469
May 2023418
Apr 2023301
Mar 2023294
Feb 2023293
Jan 2023305
Dec 2022356
Nov 2022474
Oct 2022512
Sep 2022513
Aug 2022514
Jul 2022515
Jun 2022486
May 2022463
Apr 2022506
Mar 2022504
Feb 2022473
Jan 2022438
Dec 2021392
Nov 2021241
Oct 2021205
Jul 2021224
Apr 2021192
Jan 2021245
Oct 2020246
Sep 2020248
Aug 2020258
Jul 2020261
Jun 2020264
May 2020257
Apr 2020246
Mar 2020248
Feb 2020251
Jan 2020143
Dec 2019137
Nov 2019137
Oct 2019116
Sep 2019121
Aug 2019111
Jul 2019114
Jun 2019114
May 2019121
Apr 2019121
Mar 2019120
Feb 2019118
Jan 2019165
Dec 2018162
Nov 2018183
Oct 2018188
Sep 2018155
Aug 2018153
Jul 2018149
Jun 2018169
May 2018205
Apr 2018248
Mar 2018246
Feb 2018250
Jan 2018198
Dec 2017201
Nov 2017180
Oct 2017177
Sep 2017160
Aug 2017161
Jul 2017151
Jun 2017125
May 2017108
Apr 201757
Mar 201758
Feb 201783
Jan 201783
Dec 201682
Nov 201682
Oct 201677
Sep 201675
Aug 201673
Jul 201674
Jun 201680
May 201651
Apr 201649
Mar 201651
Feb 201621
Jan 201625
Dec 201524
Nov 201549
Oct 201550
Sep 201548
Aug 201547
Jul 201544
Jun 201558
May 201558
Apr 201559
Mar 201560
Feb 201560
Jan 201558
Dec 201457
Nov 201432
Oct 201432
Sep 201434
Aug 201438
Jul 201439
Jun 201420
May 201421
Apr 201423
Mar 201422
Feb 201424
Jan 201424
Dec 201326
Nov 201325
Oct 201329
Sep 201329
Aug 201341
Jul 201367
Jun 201380
May 201384
Apr 201393
Mar 201392
Feb 201391
Jan 201391
Dec 2012107
Nov 2012107
Oct 2012102
Sep 2012126
Aug 2012117
Jul 2012117
Jun 2012111
May 2012112
Apr 2012127
Mar 2012128
Feb 2012181
Jan 2012180
Dec 2011173
Nov 2011178
Oct 2011183
Sep 2011157
Aug 2011150

Homes finished and licensed each year in Funchal

Homes completed in new buildings (columns) against homes licensed for construction (line), each year since 2011. INE.

  • Homes finished
  • Homes licensed
Show the numbers
YearHomes finishedHomes licensed
2025311349
2024515505
2023155513
2022258356
2021206392
2020152235
2019166137
201862162
201786201
20166882
20152224
20145457
201318826
2012141107
2011248173
Homes finished per 1,000 residents, 2025
2.7

Who built the homes finished in Funchal

Who built the homes completed each year, as a share of that year. INE, since 2011.

  • Cooperatives and others
  • Public bodies
  • Private individuals
  • Companies
Show the numbers
YearCompaniesPrivate individualsPublic bodiesCooperatives and othersTotal
202591.6%8.4%0.0%0.0%311
202487.8%12.2%0.0%0.0%515
202348.4%51.6%0.0%0.0%155
202272.9%27.1%0.0%0.0%258
202165.5%34.5%0.0%0.0%206
202070.4%28.9%0.7%0.0%152
201956.0%39.2%0.6%4.2%166
201825.8%74.2%0.0%0.0%62
201764.0%36.0%0.0%0.0%86
201675.0%25.0%0.0%0.0%68
201513.6%81.8%4.5%0.0%22
201448.1%46.3%5.6%0.0%54
201383.0%17.0%0.0%0.0%188
201244.7%54.6%0.7%0.0%141
201162.1%33.1%0.0%4.8%248

Homes finished in Funchal, by number of bedrooms

Homes completed in new buildings by number of bedrooms, as a share of each year. INE.

  • Four or more
  • Three bedrooms
  • Two bedrooms
  • Studio or one bedroom
Show the numbers
YearStudio or one bedroomTwo bedroomsThree bedroomsFour or moreTotal
202525.7%45.3%27.3%1.6%311
202428.2%45.2%24.9%1.7%515
202321.3%36.8%39.4%2.6%155
202216.7%39.5%40.3%3.5%258
202115.5%34.0%44.7%5.8%206
202016.4%42.8%38.8%2.0%152
201930.1%32.5%30.7%6.6%166
201812.9%40.3%45.2%1.6%62
201711.6%33.7%51.2%3.5%86
20167.4%38.2%41.2%13.2%68
20159.1%31.8%40.9%18.2%22
20145.6%51.9%37.0%5.6%54
201316.5%41.0%36.7%5.9%188
20122.1%42.6%47.5%7.8%141
201121.8%46.8%26.6%4.8%248

A licence is permission to build, not a finished home: most are completed one to three years later, and some never are. INE publishes licensing three months at a time, so four windows make a year.

Other reports for Funchal

Next 12 months

Asking prices have an 80% chance of landing between €3,950/m² and €4,458/m² by September 2027.

Expected, September 2027
€4,204/m²
Chance of a rise
76%

Affordability

At the bank valuation, a 90 m² home costs €273,330. With 10% down and a 30-year mortgage, the payment is €1,037 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
39%
Payment, one income
79%

Buy or rent

Owning a 90 m² home costs less each month than renting it. Owning counts interest, running costs and the return the deposit could earn, at the median sale price. Repaying the loan is saving, so it is left out.

Rent per month
€1,263
Owning per month
€1,117

Asking against valuation

Sellers ask 33.9% more than banks value homes at. A year ago the gap was +48.3%.

Gap today
+33.9%
Change in a year
−14.4 pp

Foreign buyers

Over the last 12 months, buyers domiciled abroad paid 21.2% more per m² than buyers living in Portugal.

Abroad against residents
+21.2%

Past cycles

Bank valuations have fallen by 3% or more 5 times since 2011. The deepest began in April 2011.

Deepest fall
−27.7%
Recovery from the low
41 months

People and new homes

In 2025 the population fell by 173 while 311 homes were finished.

Homes finished, 2025
311
Population change, 2025
−173

Empty homes

13.2% of the 52,234 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
13.2%
Empty homes
6,883

Renovation

In 2025, 36% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
36%
Reconstructions per 100 new buildings
0.0

Public housing works

Public bodies signed €5.4M of housing works here in 2025, and €34.2M since 2012.

Signed in 2025
€5.4M
Per resident, 2025
€48

Data: INE, ECB and others · updated October 27, 2026

Asking prices and bank valuations are not sale prices. This is a description of public data, not financial advice.

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