This is a little off-topic as I am not going to rent an apartment in Funchal. But given the recent content on social media about renting apartments in Madeira, and in Funchal in particular, I got interested in this topic and have something to say. Let me just note that I will only talk about the prices and give you my personal opinion here – I am not looking at this topic from a landlord’s point of view.
Expensive Apartments in Funchal, Madeira
There are quite a few YouTubers who have moved to Madeira in the past two years. There are also some who are just moving or planning to move. Almost everyone chose Funchal as their new home. And everyone started renting an apartment. There’s this German YouTuber called Unge (I do not include a link, but you can find him on YouTube if you want – the content is in German) who started producing game content and is now focusing on YouTube reaction videos (this may sound a bit strange, but it is what it is: this guy is streaming his reaction to other videos on YouTube). When he moved to Madeira, he and his girlfriend moved into a beautiful apartment in a residential building with a swimming pool and gym in the middle of Funchal. It has two bedrooms, a separate kitchen and a really large living room with a nice terrace. It’s a fairly new building and the location is great as it’s close to the city center. In one of his videos he showed his followers the apartment and even once said that it was cheap compared to the apartment he was renting in Germany, as he only paid around 900 Euro in Funchal. I remember thinking: “900 Euro rent is still quite a lot for Madeira”. However, this guy has wisely invested his money in several buildings, apartments, and plots across the island and is currently not paying rent.
Yesterday I saw a stream from another YouTuber, actually a YouTuber couple who currently live in Lisbon. Their channel is much smaller than Unge’s, nevertheless they plan to move into a T3 apartment in Funchal and pay the staggering amount of 1,700 Euro per month for the rent! I thought you must be crazy to do such a thing! At this point I started looking at prices again, hoping that the couple was dazzled by the prices in Lisbon.
Prices in Funchal
Let us have a look at one of the major real estate platforms in Madeira. When you follow this link you will see the listings in Funchal for T2 or T3 apartments.
The highest rent in Funchal today is 2,500 Euro. That is a lot! But what you get for that amount of money is not an apartment, but a 375m2 4 bedroom villa in São Martinho.
The lowest rent for a T2 that I have found is 500 Euro a month for a 73m2 apartment, garage included. Not so bad I would say.
But why are some people willing to pay 1,700 Euro a month? Maybe it has to do with the area, São Martinho. When we refine our search to only this area of Funchal you will soon see that you will find cheap rentals here as well. In fact, the cheapest apartment that I have found with only 500 a month is located in São Martinho as well. But, in general, this area for sure is a bit more expensive, as there are many new buildings with a beautiful ocean view.
What the locals have to say about the prices
Some background information on this particular topic – and the reason why I think more than 1,500 Euro for a flat is too much – is a discussion with my local friends in Madeira a few years ago. I told them that I was paying 800 Euro rent for my apartment in Vienna (excluding bills) and they said this was too much. They told me that on average, in Madeira people make about this much money, some maybe a little more. So paying more than 1,500 Euro a month just for rent sounds unbelievable. And I know that there are areas in Madeira where people rent a whole house for 400 Euro a month. Not in Funchal though.
Just recently while trying to find out more information about the cost in Funchal I asked a Facebook group (consisting of locals and expats) what they would pay or what they would consider to be a reasonable rent. Their answers were interesting, but considering the rent the majority said below 1000 Euro a month. Someone I trust with this topic said between 1000 and 1500 Euro a month. Of course, like in any other city in the world, the prices depend on many factors like the location, the condition, the building, the view, if it is furnished and so on. But in any case, above 1500 Euro is considered to be anything but normal and probably something really special (so far less than 1.5% of the people I asked voted for > 1500 Euro).
What I think is a realistic price
I think it is much less than 1,700 Euro a month, something between 800 and 1,300 a month. Obviously, if you love the glamorous lifestyle, or whatever, you might pay more. This is totally okay. I just don’t want to give anyone the impression that you have to pay that much for a nice apartment because in my opinion that’s just not true.
Anyway, if you are planning to move to Madeira and rent an apartment in Funchal, keep in mind that there are also cheaper options than what you see on various YouTube videos. Depending on what you are looking for, I am sure you will find something very nice for not sooo much money. If you think I am wrong and prices really are that high then please let me know! Otherwise, peace out – Hana.
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