I was discussing these days about places to live next year, madeira was on the list! I haven't done much research into the cost of living yet, so I hope I won't be scared off xD
well... this little shack costs me 700 euro/month, power, water, internet and gas included (has a gas cooktop in the kitchen) IMO it's a bit expensive but there is high demand for property here, it's one of the things that the locals hate about being tethered to portugal, not being able to control that issue as much as they want to, and depending on tourism, which creates this problem