Studies indicate that the cost of living in Madeira is lower than the rest of Europe, as many of the goods are cheaper than in other European Union countries. However, it is difficult to calculate the average cost of living in Madeira as it depends on the circumstances and the type of life of each individual. However, many of the foreign nationals in Madeira, from Western Europe, consider that the cost of living to be 50% lower than that of their homeland.
Some examples * of costs:
– Renting a quality apartment located in Funchal: € 20 / m2 / month
– Purchasing a quality apartment located in Funchal: € 1,250 / m2
– A meal in a restaurant, of medium high quality: € 20 / meal
– Purchasing an office in the centre of Funchal: € 1,750 / m2
– An office rental in the centre of Funchal: € 20 / m2 / month