Madeira Apartments to Rent: Prices, Areas & Types

Types of Apartments for Rent in Madeira

Renting in Portugal provides a wide selection of short-term and long-term rentals at relatively affordable prices compared to much of Western Europe and the United States.

Madeira apartments to rent range from small, fully-furnished modern apartments in city centers to charming traditional homes near the coast, and luxury penthouses with panoramic views. Below are the various property types in Madeira available for rent.

One-bedroom apartments (T1)

The average rent for a one-bedroom apartment (T1 apartment) in Funchal is €1,100 and €3,500 per month. A lot of apartments are furnished, even if they are available to rent long-term. Many of those apartments in Funchal also have balconies from where you can enjoy views across the city or even the beach and sea.

Basic T1 apartments can be found advertised by any real estate brokerage for below €1,350 without compromising on comfort and convenience. For something a little more upmarket, you will pay around or over €2,000 per month, and you can expect a fully-furnished T1 apartment in the city center of Funchal, with a balcony, allocated parking, and a shared swimming pool.

Average prices for one-bedroom apartments outside the city are between €975 and €1,350 per month, and amenities will vary depending on location and property.

Two-bedroom apartments (T2)

Two-bedroom apartments (T2 apartments) in Madeira are available furnished or unfurnished, with a variety of amenities. Many apartment blocks have lifts for residents’ convenience, and tenants can also expect a balcony with a view.

For example, for an unfurnished apartment with parking in the center of Funchal, you will pay around €1,400–€1,880 per month, but a spacious and fully-furnished T2 apartment outside the city center can cost as little as €1,150 per month for a long-term lease. For a little more luxury, you will pay around €2,700 for a two-bedroom penthouse apartment.

Three-bedroom apartments (T3)

For three-bedroom apartments (T3 apartments) to rent in the Funchal city center, expect to pay between €1,800 and €2,800, but be mindful that luxury apartments will cost more.

For example, a modern, 192-square-meter, fully-furnished, luxury apartment with shared facilities, such as a swimming pool and in-house gym, will cost €2,500 per month.

If you prefer to rent an apartment in Madeira outside the center, you’ll pay between €1,300 and €3,500 for a T3 apartment.

Best Areas to Rent an Apartment in Madeira

Madeira real estate is a golden investment opportunity that enjoys high rental yields. It provides a variety of home listings from vacation apartments to penthouses and luxury retreats. Here are the best areas to visit in Madeira if you plan to stay there.

Funchal

Funchal, the island’s capital city, is one of the best places to rent an apartment in Madeira. By staying in the old town, you put yourself right in the heart of the city.

You get easy access to landmarks such as the Sé Cathedral and Forte São Tiago and can walk across charming cobbled streets filled with local shops, cafés, and bars.

Thanks to its central location, you can enjoy a relaxed atmosphere during the day and a variety of nightlife options in the evening. If you are staying with children, Funchal also has the best access to international schools in Madeira.

Things to do:

• Explore handicrafts workshops
• Swim at Doca do Cavacas
• Take walking tours of Funchal’s old town
• Enjoy a vintage sidecar tour around Funchal
• Visit history and art museums

Porto Moniz

North of the Island of Madeira is Porto Moniz, a municipality famous for its mesmerizing volcanic pools, beautiful parishes, cliffs, ridges, and coves. Porto Moniz relies on fishing and organizes annual celebrations like the “Porto Moniz Sea Week”, which is its biggest recreational, cultural, and sporting event.

Things to do:

• Swim in natural volcanic pools
• Visit the old aquarium, Piscinas do Aquário
• Explore the nearby coastal village Ribeira de Janela
• Take the Achadas da Cruz cable car for thrilling panoramic views

Câmara de Lobos

This beautiful fishing town is only 5 km (3.1 miles) west of Funchal, Madeira. It offers a laid-back atmosphere around the harbor, with stunning cliffs near Cabo Girão. Even Winston Churchill was a frequent visitor to and around Camara de Lobos, which was his favorite area to paint.

Things to do:

• Enjoy the narrow streets and scenic harbor
• Explore the Ilhéu Gardens on top of a cliff overlooking the sea
• Swim at Praia de Vigaro, also known as pebble beach
• Take a cable car for stunning views of the Cabo Girão cliffs

Ponta do Sol

Ponta do Sol is the sunniest village and municipality in Madeira, famous for its dramatic cliffs, lush trails, cobbled alleys, and beautiful pebble beach. You can enjoy many outdoor activities in its crystal-clear waters and surrounding mountains. The stunning natural beauty, paired with the reasonable prices, makes it a great place for apartments for rent in Portugal.

Things to do:

• Explore the historic bridge Ponte do Ponta do Sol
• Swim at the Praia da Ponta do Sol
• Check the Levada do Moinho trail to enjoy the lush valleys, banana plantations, and waterfalls
• Visit the village of Madalena do Mar

Machico

Machico is a historic coastal city and municipality in southeastern Madeira. Popular for its traditional villages, coastal Levada walks, and stunning beaches, it is one of the most sought-after locations for Madeira apartments for sale.

Things to do:

• Relax on the golden sand beach, Praia de Machico
• Take in the viewpoints around the city
• Visit Caniçal and the Whale Museum, Museu da Baleia
• Hike the Ponta de São Lourenço trail for stunning ocean views and dramatic volcanic cliffs

Goldcrest: How We Can Help You 

Goldcrest is a buyer’s agent that is based in Lisbon. We provide expert, impartial advice on real estate investments and how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered throughout the process.

If you are looking to purchase property in Portugal, don’t hesitate to get in touch. Our team of skilled experts is available to solve all your real estate doubts, helping you with the property search and offering insightful expertise and strategic advice.

Why choose Goldcrest?

• Local knowledge: With offices located across Portugal, our presence nationwide allows us to assist you personally across the country.
• Independent service: As an independent buying agent, we do not represent any development or project. Our service is entirely tailored toward each individual client, providing you with everything you need to secure the perfect property at the best possible price. As an impartial advisor on the market, we work solely on behalf of our client and provide a service tailored to your needs and requirements.
• Streamlined process: Our real estate agents speak English and Portuguese, and our service is completely focused on providing you with a hassle-free buying experience, saving you time.
• Experienced team: Our expert real estate team has a vast local knowledge of the Portuguese property market. We have cutting-edge technology and metasearch tools at your disposal to provide full market coverage, ensuring the best investment choices and negotiated prices.
• Network of partners: We have a close network of partners, including lawyers, property management services, builders, architects, designers, and landscape gardeners, again saving you time and hassle by providing you with trusted experts in their field of work.