Santa Cruz · report
Empty homes in Santa Cruz
11.3% of the 20,373 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.
- Empty, 2021 census
- 11.3%
- Empty homes
- 2,299
Against the wider area
Share of homes standing empty in the 2021 census.
| Area | Empty |
|---|---|
| Santa Cruz | 11.3% |
| Madeira island | 13.5% |
| Portugal | 12.1% |
The census counts a home as empty when nobody lives in it usually or seasonally: for sale, to let, awaiting demolition or repair, or for other reasons. Second homes are counted apart and are not included. The next census is in 2031.
Other reports for Santa Cruz
Asking prices have an 80% chance of landing between €2,951/m² and €3,699/m² by September 2027.
- Expected, September 2027
- €3,325/m²
- Chance of a rise
- 81%
At the bank valuation, a 90 m² home costs €243,630. With 10% down and a 30-year mortgage, the payment is €924 a month. Banco de Portugal caps it at 50% of a household's net income.
- Payment, two incomes
- 33%
- Payment, one income
- 67%
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
- €1,031
- Owning per month
- €901
Sellers ask 13.2% more than banks value homes at. A year ago the gap was +31.1%.
- Gap today
- +13.2%
- Change in a year
- −17.9 pp
96.3% more homes were licensed for construction in the last 12 months than in an average year of the past decade.
- Licensed, 12 months
- 186
- Per 1,000 residents
- 4.2
Over the last 12 months, buyers domiciled abroad paid 11.7% more per m² than buyers living in Portugal.
- Abroad against residents
- +11.7%
Bank valuations have fallen by 3% or more 6 times since 2014. The deepest began in July 2014.
- Deepest fall
- −15.2%
- Recovery from the low
- 18 months
In 2025 the population grew by 261 while 130 homes were finished: 2.0 new residents for every new home.
- New residents per new home, 2025
- 2.0
- Population change, 2025
- +261
In 2025, 27% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.
- Work on existing buildings, 2025
- 27%
- Reconstructions per 100 new buildings
- 0.0
Public bodies signed €127K of housing works here in 2024, and €2.4M since 2012.
- Signed in 2024
- €127K
- Per resident, 2024
- €3
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